Laney Group, Inc. Names Paul Butero as Chief Executive Officer

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Long-time chairman assumes active leadership role in completing Company's strategic transformation

The board of Laney Group, Inc. (“Laney” or the “Company”) is excited to announce the appointment of Paul Butero as Chief Executive Officer (CEO). Mr. Butero has been a board member since October 2015 and will continue to serve as Chairman.

Prior to his involvement in Laney, Mr. Butero was the President / CEO of Nine Energy Service, a SCF Partners OFS portfolio company focused on the completion phase of resource development. Mr. Butero also enjoyed over 32 years with Baker Hughes Incorporated, lastly serving as President of US Land Operations, Baker’s largest and most dynamic geomarket. He also served as President of Hugheshristensen Company (drill bits), President of Baker Atlas (wireline), and President of Baker Hughes Inteq (drilling systems). He also held a Vice President role in operations and sales and marketing, as well as a number of operational management positions both domestically and internationally. Paul has been a director of Forbes Energy Services since 2017.

Regarding Mr. Butero's appointment, the Board issued a statement; “We are very pleased that Paul has decided to step into this new role. Given his experience with the Company, strong leadership skills, and rapport with senior management, he is a natural fit to drive the organization forward. We feel very lucky to have an executive of Paul’s background to lead Laney during its next phase of growth.”

For further information, please contact Rahul Mangire at rmangire@laneygroupinc.com.

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