ASCENT RESOURCES ANNOUNCES RETIREMENT OF CEO JEFFREY A. FISHER; BROOKS M. SHUGHART TO SUCCEED FISHER

OKLAHOMA CITY, Jan. 5, 2026 /PRNewswire/ -- Ascent Resources, LLC ("Ascent" or the "Company") today announced that Jeffrey A. Fisher, Chairman and Chief Executive Officer, will retire from his executive roles effective January 31, 2026 ("Retirement Date"). The board of Ascent has appointed Brooks M. Shughart, currently President & CFO, to succeed Fisher as CEO effective as of the Retirement Date. This transition is the result of a comprehensive succession planning process overseen by the Board of Managers and the Compensation Committee. Mr. Shughart will continue as CFO while our search for a successor CFO is finalized.

Mr. Fisher will continue to serve as Chairman and CEO through the Retirement Date, ensuring a seamless transition of leadership. Following his retirement, Mr. Fisher will serve as Special Advisor to executive management and the Board through December 31, 2026, supporting the Company and its leadership team as an independent advisor.

"It has been an honor to lead Ascent over the last 11 years. I believe the company has some of the best assets and the best people in the industry and I am confident our experienced leadership team and talented employees will take the company to greater achievements in the future," said Fisher. "I look forward to seeing Ascent's future take shape as I spend more time focusing on family and personal interests. Brooks has been an integral part of our leadership team, embodying the values, strategic vision, and passion that define Ascent."

"Ascent Resources has benefited greatly from Jeff's vision and leadership over the past 11 years," said Alex T. Krueger, Chairman of the Compensation Committee. "We are grateful for his commitment to a thoughtful transition and we are fully confident that Brooks and the rest of the executive team will continue to successfully drive value creation and growth at Ascent."

Mr. Shughart will step into the CEO position after his ten plus years of service on Ascent's Board of Managers and a successful tenure as CFO, and most recently as President. He has already taken on operations and midstream responsibilities and will now have the remaining functions of the organization reporting to him.

Mr. Shughart commented, "I am honored and excited to take on the role of Chief Executive Officer of Ascent Resources. Working side-by-side with Jeff for many years has allowed me to gain many valuable insights. He has been an exceptional leader for Ascent. I look forward to leading the fantastic Ascent team."

"Ascent's owners appreciate the work that Jeff and Brooks have done to position Ascent for success both operationally and financially," said John T. Raymond, Vice Chairman of the Board of Managers. "The Board and key equity owners have the utmost confidence in Brooks' ability to lead the Company and to continue moving Ascent forward successfully."

About Ascent Resources:
Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, and operating natural gas and oil properties located in the Utica Shale in southern Ohio. With a continued focus on good corporate citizenship, Ascent is committed to delivering cleaner burning, affordable energy to our country and the world, while reducing environmental impacts.

Contact:
Chris Benton
Vice President – Finance and Investor Relations
Phone: 405-252-7850
Email: [email protected]

SOURCE ASCENT RESOURCES, LLC