Panhandle Appoints New CEO
Panhandle Oil and Gas Inc. has revealed that Chad L. Stephens has been approved as the new chief executive officer of the company.
Stephens was previously the company’s interim CEO. He has nearly 40 years of experience in the oil and gas industry and used to work as the senior vice president of corporate development at Range Resources from 2002 until his retirement in December 2018.
“We are excited to have Chad leading the company and our senior management team going forward,” Panhandle’s Lead Independent Director Mark T. Behrman said in a company statement.
“Chad is a very capable executive with proven leadership and operations expertise gained from his decades of experience in the oil and gas industry. We are confident that our executives, employees and stockholders will benefit greatly from Chad’s skills and expertise as he successfully executes our business strategy,” he added.
Commenting on his new role, Stephens said, “I am honored to be elected by the board to lead Panhandle’s talented team of executives and employees”.
“My focus will be on furthering Panhandle’s strategic decision to focus on perpetual oil and natural gas mineral ownership and growth through mineral acquisitions and development of Panhandle’s significant inventory of mineral acreage to increase value to our stockholders,” he added.
Stephens was appointed as interim CEO in August last year. The company’s previous CEO stepped down effective August 26, 2019.
Oklahoma City-based Panhandle describes itself as an oil and natural gas mineral company with a strategy to proactively pursue the acquisition of additional minerals in its core areas of focus.
The company owns approximately 258,000 net mineral acres principally located in Oklahoma, North Dakota, Texas, New Mexico and Arkansas, according to its website.
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