Palmer’s career at the Atlanta-based oilfield services firm began in 1996, spanning two decades as Chief Financial Officer and Treasurer before he assumed the top executive role in 2022. During his time at the helm, he emphasized maintaining a low-leverage balance sheet while shifting the company’s portfolio toward higher-margin service lines and expanding its footprint in the Permian Basin. Richard A. Hubbell, Executive Chairman of the Board, credited Palmer with strengthening the company’s financial foundation and positioning it to compete within the volatile oilfield services sector.

To ensure continuity, Palmer will remain in his current capacity until the end of the year or until a successor is appointed, after which he will transition into an advisory role. The board has engaged an independent firm to identify candidates who possess both operational expertise and a history of driving growth without compromising the company’s signature financial stability. Lead Independent Director Patrick J. Gunning described the move as the result of a deliberate, long-term succession planning process.