R360 Environmental Solutions Names Frank W. Schageman as Chief Financial Officer

HOUSTON, Feb. 1, 2011 /PRNewswire/ -- R360 Environmental Solutions today formally announced the appointment of energy industry veteran Frank W. Schageman as the company's new Executive Vice President & Chief Financial Officer. Schageman will serve as the company's most senior financial leader, managing all matters of financial strategy, governance, planning, reporting, record keeping and risk management.  

Mr. Schageman joins the company from OFS Holdings, LLC, where he also held the CFO position - responsible for all financial aspects, including the creation/acquisition, development and management of a multi-line oilfield service business. He also served a 16-year tenure with Wells Fargo in Houston—first as Vice President and Manager of the Oilfield Services and Manufacturing Team and Energy Group, and then as Senior Vice President and Regional Manager of the company's Commercial Banking Group. A high-profile financial leader in the energy industry, Schageman is a regular speaker at industry conferences and has served as a guest lecturer at the McCombs School at the University of Texas and the Mays School at Texas A&M University. He holds an MBA from The University of Texas at Austin.

"Mr. Schageman brings the kind of industry-specific financial leadership we need as we move into this next phase of aggressive growth in 2011," notes R360 CEO Troy Thacker. "We're changing the way that oilfield services approach waste management. And that kind of shift takes financial decision-making that not only understands the disciplines of capital and risk management—but also the fundamentals and nuances that make the upstream well services market tick. It is a privilege to have him on board."

About R360 Environmental Solutions

Based in Houston, R360 Environmental Solutions, Inc. is the nation's leading oilfield environmental solutions company.  Providing E&P waste and water recycling, treatment and disposal solutions to some of the world's leading oil and gas producers, R360 helps oil and gas operators ensure environmental performance and compliance in major oil and gas plays nationwide.  The company has added Claco Services, LLC to its recently acquired oilfield environmental service companies, including US Liquids of LA., L.P. (USLL), the Controlled Recovery, Inc. group of companies (CRI) and the Calpet / R&G group of companies.

SOURCE R360 Environmental Solutions, Inc.