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Core Laboratories Inc. (CLB) is a global provider of specialized services and products aimed at enhancing reservoir performance and maximizing oil and gas recovery. The company operates in over 50 countries, offering advanced analytical services, proprietary studies, and innovative technologies to the energy sector. Its offerings include laboratory-based analyses, diagnostic services, and manufactured products that support both traditional oil and gas operations and energy transition projects like carbon capture and geothermal energy.
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Reservoir Description - Focuses on characterizing petroleum reservoir rock and fluids to optimize crude oil and natural gas recovery. Offers laboratory-based analytical services, proprietary studies, and laboratory equipment manufacturing, while also supporting energy transition initiatives such as carbon capture, geothermal projects, and lithium mining.
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Production Enhancement - Provides services and products for reservoir well completions, perforations, stimulation, production, and well abandonment. Includes diagnostic services to evaluate and improve well completions and enhanced oil recovery projects.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Lawrence V. Bruno ExecutiveBoard | President and Chief Executive Officer (CEO) | None available | CEO since May 2020, with an employment agreement entitling him to a base salary of $886,912 and up to 200% bonus. No external roles mentioned. | |
Christopher S. Hill Executive | Senior Vice President and Chief Financial Officer (CFO) | None available | CFO since at least March 2019, earning a base salary of $465,088 with up to 150% bonus. Oversees financial reporting and compliance. | |
Gwendolyn Y. Gresham Executive | Senior Vice President, Corporate Development and Investor Relations | None available | SVP since at least March 2019, earning a base salary of $407,888 with up to 130% bonus. Focuses on corporate development and investor relations. | |
Mark D. Tattoli Executive | Senior Vice President, Secretary, and General Counsel | None available | General Counsel since October 2021, earning a base salary of $407,888 with up to 130% bonus. Oversees legal matters and compliance. | |
Sow Hang Teo Executive | Vice President, Chief Accounting Officer (CAO), and Treasurer | None available | CAO since March 2024, joined CLB in 2006. Previously held roles such as Corporate Controller of Financial Reporting and Asia Pacific Shared Service Center Controller. | |
Curtis Anastasio Board | Director | Par Pacific Holdings (Director, Chair of Audit Committee), The Chemours Company (Director, Chair of Audit Committee) | Former CEO of NuStar Energy. Extensive leadership experience in energy and public companies. Serves on multiple boards and committees. | |
Harvey Klingensmith Board | Director | None available | Over 44 years of experience in upstream oil and gas. Co-founded multiple companies, including Ajax Resources, which was sold for $1.24 billion. Expertise in operational growth and distressed company management. | |
Katherine A. Murray Board | Director | The Coalition for the Homeless (CFO), Foundation for the Women’s Energy Network (Former Chair) | Financial expert with senior roles in energy companies. Extensive experience in mergers and acquisitions, including El Paso Corporation's $3 billion sale to Kinder Morgan. | |
Kwaku Temeng Board | Director | Stanford University Earth Sciences Advisory Board (Member), Society of Petroleum Engineers (Member) | Retired from Aramco Services Company in 2021. Extensive experience in upstream oil and gas technology and business programs. Licensed petroleum engineer in California. | |
Martha Z. Carnes Board | Director | SunCoke Energy (Director, Chair of Audit Committee), Matrix Service Company (Director, Chair of Audit Committee), Texas Children’s Hospital (Trustee), Barbara Bush Houston Literacy Foundation (Board Member) | Retired PwC Assurance Partner with 34 years of experience. Serves on multiple boards and committees, bringing financial expertise to CLB. | |
Michael Straughen Board | Director | None available | Former Executive Director at John Wood Group PLC. Extensive leadership experience in engineering and project management in the oil and gas sector. Chairman of CLB's Compensation Committee. |
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With the ongoing geopolitical conflicts and expanded sanctions impacting your Reservoir Description segment, leading to immediate effects on both revenue and profitability , what specific strategies are you implementing to mitigate these headwinds and sustain margins, particularly given the recent decline in crude assay laboratory services?
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In the competitive and crowded U.S. market for Production Enhancement, where you've noted stable but not high pricing and challenges in getting rewarded for your technology , how do you plan to enhance your pricing power and profitability? Are there initiatives to further differentiate your offerings or shift focus to markets willing to pay for technology?
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Given the projected increase in capital expenditures to rebuild the Aberdeen facility after the 2024 fire, with estimates between $10 million and $12 million , and additional CapEx excluding Aberdeen expected to be $15 million to $17 million , how do you anticipate these investments will impact your free cash flow and return on invested capital in 2025?
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While you've highlighted growth opportunities in international markets like the Middle East and Asia Pacific , some regions such as West Africa have reported dry holes affecting future work , and geopolitical risks remain high. How confident are you in achieving the projected mid-single-digit international growth , and what contingency plans are in place if these markets underperform?
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With your effective tax rate projected to increase to approximately 25% in 2025 , up from 20% previously , and considering the pressure on margins due to market and geopolitical factors, how will this higher tax expense impact your net income and plans for shareholder returns, including dividends and share repurchases?