Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the “Company” or “Magnum Hunter”) announced today that the Board of Directors has appointed Keith Yankowsky as Executive Vice President and Chief Operating Officer effective September 1, 2015. Mr. Yankowsky, age 50, will report directly to Gary C. Evans, Chairman and Chief Executive Officer of Magnum Hunter.
Mr. Yankowsky brings more than 28 years of engineering experience, including operations, drilling and completions, within large independent oil and natural gas companies focused on both conventional and unconventional resource plays. Prior to his appointment at Magnum Hunter, Mr. Yankowsky served as Vice President of Appalachia South Business Unit at Chesapeake Energy Corporation (“Chesapeake”) since 2013. During his nine year tenure at Chesapeake, he also held the title of Vice President of Engineering Technology and Special Projects and was involved in overseeing a variety of engineering and operational functions specifically related to horizontal drilling and fracture stimulation techniques within the Marcellus and Utica Shale plays. Mr. Yankowsky played a vital role in the discovery and development of many of the most prolific onshore U.S. unconventional resource plays for Chesapeake. In addition, he was responsible for the successful development and growth of certain Appalachian assets for Chesapeake and has overseen the successful disposition of some of these assets to other industry competitors. Prior to joining Chesapeake, Mr. Yankowsky served in various operational and engineering roles at Burlington Resources and Conoco Inc. Mr. Yankowsky earned a Bachelor of Science in Petroleum Engineering degree from Marietta College, Marietta Ohio.
Mr. Yankowsky commented, “I am honored to join an exceptionally talented Magnum Hunter operations team. I look forward to utilizing my extensive Appalachian Basin experience to further drive improved production performance and cash cost efficiencies on the Company’s attractive acreage position.”
Management Comments
Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter, commented, “One of our primary goals as we rebuild our Company has been to attract high quality and experienced personnel. In order for us to efficiently drill and develop our vast Appalachian leasehold acreage position during this low commodity price environment in a manner that expands EUR’s and at the same time reduces finding costs, we must have this type of talent in-house. We believe Keith Yankowsky brings all the knowledge and experience we have been seeking. As a native of the area, a graduate of the college located in the same town as our primary operating office, and having managed and overseen the drilling and completion of over 1,100 wells in this region, we are confident that necessary improvements to our operational performance will occur in the future.”
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation and subsidiaries are an Irving, Texas based independent exploration and production company engaged in the acquisition, development and production of natural gas, natural gas liquids and crude oil, primarily in the States of West Virginia and Ohio. The Company is presently active in two of the most prolific unconventional shale resource plays in North America, the Marcellus Shale and Utica Shale located in Northwest West Virginia and Southeast Ohio.
