Magnum Hunter Resources Corp. announced Wednesday the appointment of Presidents for each of the Company's three primary areas of geographic operations: (i) the Williston Basin, (ii) the Appalachian Basin, and (iii) the Eagle Ford Shale of Central and South Texas.
The appointment of these three new Divisional Presidents follows the tremendous growth Magnum Hunter has experienced with the recent closings of both the NGAS Resources acquisition on April 13, 2011 and the NuLoch Resources acquisition on May 3, 2011 which total in excess of $425 Million.
R. Glenn Dawson, President, Williston Hunter, Inc.
R. Glenn Dawson has been appointed President of the Company's Williston Basin Division and will work out of Magnum Hunter's new Denver, Colorado office as well as Calgary, Alberta. He joins the Company from NuLoch Resources where he previously served as President and CEO.
Dawson graduated in 1980 from Weber State University of Utah with a bachelor's degree in geology and attended the University of Calgary from 1980 to 1982 in the Masters Program for Geology.
In the early stages of his career, Dawson was employed as an exploration geologist by Sundance Oil and Gas, Inc., a public company located in Denver, Colorado, concentrating on their Canadian operations. From December 1985 to September 1998, Dawson held a variety of managerial and technical positions with Summit, including Vice President of Exploration, Exploration Manager and Chief Geologist.
Dawson held the position of Vice President of Exploration with PanAtlas from 1999 until its acquisition by Velvet. Mr. Dawson was a co-founder of TriLoch in 2001, which ultimately became NuLoch Resources, Inc. He has over 20 years of experience in oil and gas exploration in North America. His principal responsibilities have involved the generation and evaluation of drilling prospects and production acquisition opportunities.
James W. Denny III, President, Triad Hunter, LLC
Jim Denny has been reappointed President of Magnum Hunter's Appalachian Basin Division through its wholly owned subsidiary, Triad Hunter, LLC. Denny has served as President of Triad Hunter, LLC since the acquisition of the assets of privately-held Triad Energy Corporation out of bankruptcy in February 2010. With the April 13, 2011 acquisition of NGAS Resources, Denny became responsible for managing and integrating the operations of NGAS into Triad Hunter.
Denny has more than 40 years of industry experience having served as President and CEO of Gulf Energy Management, a wholly owned subsidiary of Harken Energy Corporation. He is a registered Professional Engineer (Louisiana) and is a Certified Earth Scientist.
Denny is also a member of various industry associations, including the American Petroleum Institute, National Society of Professional Engineers, Society of Petroleum Engineers, and the Society of Petroleum Evaluation Engineers. He is a graduate of the University of Louisiana-Lafayette with a bachelor's degree in petroleum engineering.
H.C. "Kip" Ferguson III, President, Eagle Ford Hunter, Inc.
H.C. "Kip" Ferguson III has been appointed President of the Company's Eagle Ford Shale Division, now called Eagle Ford Hunter, Inc. (formerly Sharon Hunter, Inc.). He will be responsible for all of Magnum Hunter's operational activities in the oil window of the Eagle Ford Shale play located in Central and South Texas where the Company is extremely active.
Ferguson was formerly President of Sharon Resources, Inc. and joined the Company as Executive Vice President of Exploration on September 30, 2009 with the acquisition of Sharon Resources by Magnum Hunter. Ferguson brings more than 20 years of exploration and development experience in several major U.S. basins, and is a third generation geologist and holds a bachelor's degree in geology from the University of Texas at Austin.
Gary C. Evans, Chairman and Chief Executive Officer of the Company, commented:
"These three gentlemen, Glenn Dawson, Jim Denny, and Kip Ferguson, are very experienced professionals with long histories and successful careers in the oil and gas industry. Their individual appointments today by our Board of Directors as divisional Presidents are to not only recognize their respective successes, but are also to give them the necessary freedom to manage and operate their divisions in a manner that maximizes the value to our shareholders. With the consummation of substantial mineral acreage positions which Magnum Hunter currently owns and controls today in three of the highest rate of return unconventional resources plays coupled with development drilling programs currently underway, each of these gentlemen have the unique opportunity to create a large enterprise in their own right. We are fortunate to have them leading our team and we have provided them with all of the necessary ingredients that will allow for the achievement of outstanding success: (i) capital, (ii) quality leasehold acreage positions, (iii) proven reserves in unconventional resource plays, and (iv) qualified technical talent."
Magnum Hunter Resources Corp. is an independent oil and gas company engaged in the acquisition, development and production of oil and natural gas, primarily in the states of West Virginia, North Dakota, and Texas. The Company is presently active in three of the most prolific shale resource plays in the United States, namely the Marcellus Shale, Eagle Ford Shale and Williston Basin/Bakken Shale.
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