Carbo Ceramics promotes Conkle to CEO following Chapter 11 emergence

By Caroline Salls

Pittsburgh, July 20 – Carbo Ceramics Inc. announced Monday that Don Conkle has been promoted to chief executive officer in connection with the company’s emergence from Chapter 11 bankruptcy.

As previously reported, the company’s Chapter 11 plan, which was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on June 18, took effect on July 2.

According to a Monday news release, Carbo Ceramics has bolstered its balance sheet by significantly reducing its debt and lease liabilities, providing a solid foundation as it moves forward under the ownership of Wilks Brothers, LLC.

“This successful financial restructuring positions the company to navigate the ever-changing business environment from a place of strength while continuing to deliver value for our clients and partners,” Wilks Brothers senior vice president Justin Wilks said in the release.

“We look forward to maximizing Carbo’s potential and unlocking opportunities for strategic growth.”

Conkle joined Carbo Ceramics in 2012 as the vice president of sales and marketing and has 34 years of leadership and industry experience, the release said.

In accordance with the plan, the company said it has completed a debt-for-equity exchange with the Wilks Brothers. In connection with this transaction, Carbo Ceramics has converted its existing $15 million debtor-in-possession facility into a $15 million exit facility.

The company said its operating strategy will continue to be focused on providing products and services to the oil and gas and industrial markets, utilizing its primary strengths in material sciences, manufacturing expertise and technology solutions.

Carbo, based in Houston, is a global technology company that provides products and services to the oil and gas, industrial, agricultural and environmental markets. The company filed bankruptcy on March 29 under Chapter 11 case number 20-31973.

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