IDM Group Names Steven Krablin as Chief Financial Officer

IDM Group, designers and manufacturers of world class drilling systems for the international energy industry, today announces that it has named Steve Krablin as Executive Vice President and Chief Financial Officer. Mr. Krablin has over 25 years of experience as a financial executive in the international energy service industry, most recently as Senior Vice President and Chief Financial Officer of National Oilwell Varco. IDM Group provides complete land rig packages and rig equipment to the energy industry from its primary facilities in Houston and Stryi, Ukraine.

Byron Dunn, CEO of IDM Group, said, "Steve is an excellent addition to the IDM team. I have worked with Steve for many years, and I cannot imagine a financial executive with better skills and experience to serve as CFO of a capital equipment provider as we implement a global strategy to achieve rapid growth through top-tier customer service, increased sales, and acquisitions."

Tom Bates, Director of IDM Group and Managing Director of Lime Rock Partners, added, "Steve brings a strong background in the industry and a wealth of experience in finance, accounting and mergers and acquisitions. Steve's experience integrating acquisitions and accessing debt and equity markets will prove invaluable to IDM."

Mr. Krablin became the CFO of National Oilwell in 1996 when it was a private company. He remained in that position through early 2005, leading the company through 45 acquisitions, its initial public offering, and the merger of National Oilwell and Varco to become the world's largest provider of drilling equipment to the oil and gas industry. Prior to joining National Oilwell, Mr. Krablin has 16 years of financial executive experience in the energy service industry. He is currently on the boards of directors of Penn Virginia Corporation, Hornbeck Offshore Services, and Chart Industries. He is a graduated of the University of Arkansas and a certified public accountant.

IDM Group, headquartered in Cyprus, is a global supplier of capital equipment to the oil and gas industry. It currently supplies drilling rigs and integrated drilling systems from its IDM Equipment manufacturing facility in Houston and its IDM International manufacturing facility in Stryi, Ukraine.

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IDM Group Names Steven Krablin as Chief Financial Officer