DENVER, April 28, 2014 /PRNewswire/ -- Resolute Energy Corporation ("Resolute" or the "Company") (REN) announced that its Board of Directors has approved the appointment of William K. White to the Board.
Nicholas J. Sutton, Chairman of the Board of Directors and Chief Executive Officer of Resolute, commented: "I am pleased to announce the appointment of Bill White to the Resolute Board of Directors. Bill has had a long and distinguished career in the oil and gas industry and his extensive background in the finance area will be extremely valuable to our Board over the coming years."
Mr. White, a retired oil and gas executive, has been an Independent Director of the General Partner of Eagle Rock Partners, L.P. since October 2006, and currently serves as Chairman of the Audit Committee, serving as the Audit Committee financial expert, and as a member of the Compensation Committee. Since December 2012, Mr. White has also served as an Independent Director on the Board of NGP Capital Resources Company, and serves on the Audit, Compensation and Governance committees. From May 2005 to September 2007, he served as an Independent Director and member of the Audit and Compensation committees of the Board of Directors of Teton Energy Corporation. Mr. White served as an Independent Director, Audit Committee Chairman and member of the Compensation Committee of CRC-Evans International, Inc., an affiliate of a portfolio company of Natural Gas Partners, from July 2008 until December 2008. CRC-Evans was subsequently sold. From September 1996 to November 2002, Mr. White was Vice President, Finance and Administration and Chief Financial Officer for Pure Resources, Inc., a successor to Titan Exploration, Inc. During his career, Mr. White served as Vice President, Finance for Mitchell Energy & Development Corp., as Senior Vice President, Finance and Administration for Ensource Inc. and as Senior Vice President, Finance and a Director for Eastex Energy, Inc. He completed a commercial banking career in 1978 as Senior Vice President and head of the U.S. Corporate Banking Division of Bank of the Southwest, Houston, Texas. He attended the United States Air Force Academy in Colorado Springs, Colorado, the University of Missouri in Columbia, Missouri, and, in 1966, received a BS in Business Administration from The Defiance College in Defiance, Ohio.
Resolute also announced that Richard L. Covington will leave the Board of Directors when his current term ends on May 27, 2014, the date of the Company's 2014 Annual Meeting. Mr. Covington has served on the Board of the Company and its predecessor entities since its founding in 2004. He informed the Board that he would not stand for re-election when his term expired so that he may more effectively meet the growing requirements and portfolio duties for the various investments and business commitments of Natural Gas Partners.
Mr. Sutton commented: "Dick has been a valued member of our Board for more than ten years. With his business acumen and insight, and the breadth and depth of his industry knowledge, Dick has been a major contributor to the Company's success. The entire Resolute Board of Directors and management team extends to Dick our most sincere thanks and all the best wishes for his continued success."
About Resolute Energy Corporation
Resolute is an independent oil and gas company focused on the acquisition, exploration, exploitation and development of oil and gas properties, with a particular emphasis on liquids-focused, long-lived onshore U.S. opportunities. Resolute's producing properties are located in the Paradox Basin in Utah, the Permian Basin in Texas and New Mexico and the Powder River Basin in Wyoming. The Company also owns exploration properties in the Permian Basin of Texas and the Big Horn and Powder River Basins of Wyoming.
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