oil & gas assets
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OFS - CEO repays ProPetro, and earnings delayed amid internal probe - August 2019

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ProPetro Holdings postponed its full Q2 earnings report amid an investigation by its audit committee into inappropriate expense payments, a failure to disclose frac fleet orders and possible conflicts of interest. The fracker reported Q2 net income that was roughly half of Q1’s, attributed to lower customer activity. Because of inadequate documentation of expenses, several ProPetro officers had to return reimbursement payments, according to a Securities and Exchange Commission filing. CEO Dale Redman returned......
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