Sanchez Energy Expands Leadership with Appointments of Chief Operating Officer and New Executive Chairman; Appoints Additional Independent Director to its Board
HOUSTON, Nov. 28, 2012 /PRNewswire/ -- Sanchez Energy Corporation (NYSE: SN), a fast growing independent oil and gas company with a 95,000 net acre position in the liquids-rich Eagle Ford formation in South Texas, announced today that it has appointed Joseph R. DeDominic as its new Senior Vice President and Chief Operating Officer.
In addition, Sanchez Energy announced today that it has appointed A.R. Sanchez, Jr. as the new Executive Chairman of its Board of Directors and Alan G. Jackson as a new independent member of its Board of Directors. Mr. Jackson was appointed to Sanchez Energy's Compensation and Nominating and Corporate Governance Committees and was also appointed to serve on the Audit Committee where, consistent with the NYSE's transition period rules and as previously contemplated, he will replace Tony Sanchez III on the Audit Committee. The appointments of Messrs. Sanchez and Jackson bring the total size of Sanchez Energy's Board of Directors to five, with three directors serving independently.
Tony Sanchez III, President and Chief Executive Officer, stated "given their breadth of knowledge, experience and their significant accomplishments in the oil and gas business, Sanchez Energy is fortunate to add both Mr. DeDominic and Mr. Sanchez to key leadership positions in its executive ranks. We look forward to working closely with both of them as Sanchez Energy executes on its strategic plans. We are also pleased to add Mr. Jackson as a new independent director to our Board of Directors and look forward to his significant contributions to the strength and integrity of the Board of Directors and its corporate governance practices."
Mr. DeDominic has served in various positions at Occidental Petroleum Corporation and its affiliates ("Oxy") from 2000 until November 2012, including most recently as President and General Manager of the Williston Business Unit. He has over 24 years of oil and gas industry experience with roles of increasing responsibility managing exploration, production, operations and business development, both in the U.S. and internationally. In his most recent role, he led the acquisition and growth of Oxy's Bakken and Three Forks assets in North Dakota, where he was responsible for all aspects of business operations, including drilling, completions, production, facilities, land, geological and geophysical, human resources, health, safety and environment, regulatory and finance. His previous roles with Oxy include Director, Business Development/North American Growth, Exploration Manager, Libya and Chief Geologist, Colombia. Mr. DeDominic received a Bachelor of Arts in Geology from the University of Montana and a Master of Science in Geology from Texas A&M University.
Mr. Sanchez is the co-founder, Chief Executive Officer, and Chairman of the Board of Directors of Sanchez Oil & Gas Corporation, a private oil and natural gas company engaged in the exploration and development of oil and natural gas, primarily in Texas and the onshore Gulf Coast on behalf of its affiliates. Mr. Sanchez has close to 40 years of experience in the oil and natural gas industry. He was instrumental in identifying and acquiring certain of Sanchez Energy's key Eagle Ford properties and in the successful completion of its initial public offering. Mr. Sanchez continues to maintain and develop the deep relationships with South Texas landowners that are critical to Sanchez Energy's growth. He received his Bachelor of Arts and Doctor of Jurisprudence degrees from St. Mary's University in San Antonio, Texas.
Mr. Jackson is a Senior Commercial Producer at IBC Insurance Agency, Ltd. ("IBC") and the former co-owner of Inscorp, Inc., a leading commercial insurance agent/brokerage in South Texas, which was acquired by IBC in 2009. Mr. Jackson has been in the insurance business since 1969, working with many land and mineral owners and their representative brokers, bankers and attorneys, and with many oil and gas operators, non-operators, investors, service companies, and logistics carriers in the energy industry throughout South Texas, including the Eagle Ford Shale. Mr. Jackson received his Bachelor of Business Administration from Texas A&M University at Kingsville, Texas and is a graduate of the University of Texas, McCombs School of Business' Management Development Program.
About Sanchez Energy Corporation
Sanchez Energy Corporation is a Houston, Texas based growth oriented independent exploration and production company currently focused on the prolific Eagle Ford Shale trend of South Texas. The company has 95,000 net acres in the volatile oil, black oil, and gas condensate windows of the Eagle Ford. For more information about Sanchez Energy Corporation, please visit our website: www.sanchezenergycorp.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Sanchez Energy expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the company based on management's experience, perception of historical trends and technical analyses, current conditions, anticipated future developments and other factors believed to be appropriate and reasonable by management. When used in this press release, the words "will," "potential," "believe," "estimate," "intend," "expect," "may," "should," "anticipate," "could," "plan," "predict," "project," "profile," "model," or their negatives, other similar expressions or the statements that include those words, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Sanchez Energy, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, including but not limited to, the continued production of oil and gas at historical rates, costs of operations, delays, and any other difficulties related to producing oil or gas, the price of oil or gas, marketing and sales of produced oil and gas, estimates made in evaluating reserves, competition, general economic conditions and the ability to manage and continue growth and other factors described in Sanchez Energy's Annual Report for the fiscal year ended December 31, 2011 and any updates to those risk factors set forth in Sanchez Energy's Quarterly Reports on Form 10-Q. Further information on such assumptions, risks and uncertainties is available in Sanchez Energy's filings with the Securities and Exchange Commission ("SEC"). Sanchez Energy's filings with the SEC are available on its website at www.sanchezenergycorp.com and on the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which such statement is made and Sanchez Energy undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Michael G. Long
Senior Vice President and Chief Financial Officer
Sanchez Energy Corporation
SOURCE Sanchez Energy Corporation