ROANOKE, Va., Feb. 02, 2016 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ:RGCO) announces election of Directors at its shareholders meeting held on February 1, 2016. Shareholders approved the election of Abney S. Boxley, III, President and CEO, Boxley Materials Company, S. Frank Smith, Consultant, Alpha Coal Sales Company, LLC, and John B. Williamson, III, Chairman of the Board, RGC Resources, Inc. for three-year terms. Shareholders also ratified the appointment of Brown Edwards and Company L.L.P. as auditors for fiscal 2016.
At a meeting of the Board of Directors, following the annual shareholders meeting, John B. Williamson, III was elected Chairman of the Board and John S. D’Orazio was elected President and CEO of RGC Resources, Inc. The Board of Directors also elected the following RGC Resources, Inc. senior officers: Paul W. Nester, Vice President, Secretary, Treasurer and CFO and Robert L. Wells, II, Vice President, Information Technology.
RGC Resources, Inc. provides energy and related products and services to approximately 60,000 customers in Virginia through its operating subsidiaries including Roanoke Gas Company, RGC Midstream, LLC, and RGC Ventures of Virginia, Inc.
From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements.
RGC Resources, Inc. stock is traded on the Nasdaq National Market with the trading symbol RGCO.
Contact: John S. D’Orazio
President and CEO
Telephone: (540) 777-3815
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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