Rex announced the appointment of Thomas C. Stabley as its Chief Executive Officer (CEO) and Patrick M. McKinney as its President.
In his new role as CEO, Mr. Stabley will work to maintain and develop overall corporate strategy, business development and governance. He will also continue to serve as Chief Financial Officer while the company conducts a search for his replacement. Mr. Stabley has been elected to serve on the company's Board of Directors in connection with his promotion.
Mr. McKinney will continue to serve as Chief Operating Officer (COO) and, in his expanded role as President, will take a more active role in the company's growth strategy and risk management. Combined, Mr. Stabley and Mr. McKinney represent over 43 years of experience within the oil and gas industry.
Lance T. Shaner, Chairman of the Board and Interim President and CEO of Rex Energy, commented, "We are extremely pleased to welcome both Tom and Pat into their new roles within Rex Energy. As a team, Pat and Tom have proven to be key contributors in strategy and performance which has led Rex Energy to the success we have experienced over the last year."
About Thomas Stabley
Thomas Stabley was a co-founder of Rex Energy in 2004 as CFO and made significant contributions to its initial public offering in 2007. Since the company went public, Mr. Stabley has played key roles in subsequent offerings, acquisitions, divestitures, joint venture agreements and has contributed greatly to the company's day to day operations. Prior to his career at Rex Energy, Mr. Stabley was Vice President of Accounting for Shaner Hotels where he worked with Rex Energy's Chairman, Mr. Lance T. Shaner. Mr. Stabley brings over 15 years of expertise in capital markets, financial reporting, corporate finance and strategic planning to the position of CEO. Mr. Stabley holds a Bachelor of Science degree in Accounting from the University of Pittsburgh.
About Patrick McKinney
Patrick McKinney has been serving as Rex Energy's Executive Vice President and COO since May 2010. Prior to joining Rex Energy, Mr. McKinney served as Senior Vice President of Engineering for Cano Petroleum beginning in 2006. Before 2006, Mr. McKinney was at Pioneer Natural Resources where he was Strategic Worldwide Portfolio Manager responsible for capital spending and resource recovery determinations related to exploration and development in Canada, Argentina, Tunisia, Alaska, West Africa and Pioneer's domestic projects. Mr. McKinney has a deep understanding of the development of oil and gas reserves, particularly oil and gas reserves from unconventional and secondary and tertiary sources, with focus on managing finding and development costs. Additionally, Mr. McKinney has extensive experience in the evaluation and reporting of oil and gas reserves and the evaluation of acquisition and divestiture opportunities. Mr. McKinney holds a Bachelor of Science degree in Petroleum Engineering from the University of Wyoming and a M.B.A from Pepperdine University.
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