SOURCE: Pride International

Pride International

August 10, 2009 10:35 ET

Pride International, Inc. Announces Management Changes

HOUSTON, TX--(Marketwire - August 10, 2009) - Pride International, Inc. (NYSE: PDE) announced today that Imran (Ron) Toufeeq, currently Senior Vice President, Asset Management and Engineering, has been appointed to the role of Senior Vice President, Operations, Asset Management and Engineering, reporting to Louis A. Raspino, President and Chief Executive Officer of the company. Mr. Toufeeq joined Pride International in 2004 as Vice President, Engineering. Over the past 30 years, he has held numerous executive positions in international drilling and management, including Senior Vice President, International Deepwater Division for R&B Falcon Corporation, where he was employed from 1981 to 2001. Mr. Toufeeq has extensive experience in the design, procurement, construction and operation of ultra-deepwater drilling rigs. While with R&B Falcon, he managed the construction of nine ultra-deepwater rigs, and his current responsibilities include Pride International's four ultra-deepwater drillships under construction in Korea. Mr. Toufeeq holds both a Master's of Mechanical Engineering and a Master's of Business Administration degree from the University of Houston.

W. Gregory Looser, currently Senior Vice President, Legal, Information Strategy and General Counsel, has been appointed to the new role of Senior Vice President and Chief Administrative Officer. In this role, Mr. Looser will be responsible for executive oversight of the Global Supply Chain, QHSE, Industry and Governmental Affairs, Information Technology and Legal departments. Mr. Looser will continue to report to Mr. Raspino. Mr. Looser joined Pride International in 1999 as Assistant General Counsel. In 2003 he was appointed Vice President, General Counsel and Secretary, and he was named Senior Vice President in 2005. Prior to joining the company, Mr. Looser was with the law firm of Bracewell & Giuliani, L.L.P. He currently serves as Director of the Texas General Counsel Forum Statewide Board and Houston Board. Mr. Looser is a graduate of Baylor University and the Baylor University School of Law.

Brady K. Long, currently Vice President, Deputy General Counsel, Chief Compliance Officer and Secretary, has been appointed to the role of Vice President, General Counsel, Chief Compliance Officer and Secretary, reporting to Mr. Looser. Mr. Long joined Pride International in 2005 as Assistant General Counsel, Compliance, and he was named Vice President, Deputy General Counsel, Chief Compliance Officer and Secretary in 2009. Prior to joining the company, he practiced law with BJ Services Company and with the law firm of Bracewell & Giuliani L.L.P. Mr. Long currently serves as Chairman of the Ethics & Corporate Compliance Committee of the International Association of Drilling Contractors. Mr. Long graduated magna cum laude from Brigham Young University and with honors from the University of Texas School of Law.

Commenting on these executive appointments, Mr. Raspino stated, "We are very pleased to promote Ron Toufeeq, Greg Looser and Brady Long to these positions of strategic importance to Pride. All three of these gentlemen have been very instrumental in the transformation of Pride International to an industry leading, deepwater-focused, international contract drilling company, and we look forward to working with them in their expanded roles."

Rodney W. Eads, who served as Executive Vice President and Chief Operating Officer, is no longer with the company.

Mr. Raspino noted, "We wish to thank Rodney Eads for his service to Pride, and we wish him well in his future endeavors."

Pride International, Inc., headquartered in Houston, Texas, operates a fleet of 44 rigs, including two deepwater drillships, 12 semisubmersible rigs, seven independent leg jackups, the 20 Seahawk Drilling mat-supported jackups and three managed deepwater rigs. The company also has four ultra-deepwater drillships under construction with expected deliveries in 2010 and 2011.

Statements regarding the expected shipyard deliveries, as well as any other statements that are not historical facts in the report are forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in the company's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Contact Information

  • Analyst Contact:
    Jeffrey L. Chastain
    (713) 917-2020

    Media Contact:
    Kate Perez
    (713) 917-2343