IRVING, Texas, Feb. 14, 2018 /PRNewswire/ -- Energy Hunter Resources, Inc., an exploration and production company headquartered in Irving, Texas (www.energyhunter.energy), today announced that it has promoted H. C. Kip Ferguson III to President & Chief Operating Officer.
Gary C. Evans, Chairman and Chief Executive Officer of Energy Hunter Resources said, "Kip Ferguson and I have worked closely together for more than eight years. While a geologist by training, Kip has a well-rounded knowledge of all aspects of our business. We have drilled many successful horizontal wells together. At Magnum Hunter Resources, he was President of our Eagle Ford Shale division. He was in charge of the project development and oversaw the execution of our day-to-day drilling, completion and production activities in this South Texas region. The drilling of approximately 60 horizontal wells and the ultimate sale of the assets for $401 million in cash provided an excellent return for our shareholders."
Evans continued, "At Energy Hunter Kip has played an instrumental role in assisting me in building our lease acreage positions in both the San Andres and Eagle Ford oil plays. We are continuing our acquisition efforts, predominantly in the Permian Basin, and have begun development of our horizontal drilling initiatives. Our first new high impact horizontal well went on production January 1st in the Eagle Ford shale. It is my pleasure to announce Kip's promotion to the position of President and Chief Operating Officer of Energy Hunter Resources, which is so well deserved."
Prior to joining Energy Hunter Kip Ferguson served as Executive Vice President of Exploration at Magnum Hunter Resources. At Magnum Hunter Resources, Ferguson was President of the company's Eagle Ford Shale division where his actions successfully contributed to the sale of the division to Penn Virginia for $401 million; generating an approximately 80 percent Internal Rate of Return for our shareholders. Prior to Magnum Hunter Resources, Kip Ferguson was President and Director of Sharon Resources, Inc. and Sharon Energy Ltd., which was subsequently acquired by Magnum Hunter in 2009. Ferguson, a third generation geologist, earned a Bachelor's degree in Geology from the University of Texas at Austin. He is a member of the American Association of Petroleum Geologists, Society of Petroleum Engineers, Independent Petroleum Association of America and the Houston Geological Society.
About Energy Hunter Resources, Inc.
Energy Hunter Resources, Inc. is an independent oil company headquartered in Irving, Texas with a mission to own and operate properties within some of the most prolific resource plays in the United States. Focusing on the Eagle Ford Shale and Permian Basin regions, our aim is to create substantial shareholder value through a balanced program of acquisitions and low-risk development and exploitation opportunities utilizing horizontal drilling and fracture stimulation technology.
Forward-Looking Statements
Energy Hunter Resources, Inc. can give no assurance that such expectations will prove to be correct. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Factors that could cause the company's actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: The success of the company's exploration and development efforts; the price of oil, gas and other produced gasses and liquids; the worldwide economic situation; changes in interest rates or inflation; the ability of the company to transport gas, oil and other products; the ability of the company to raise additional capital, as it may be affected by current conditions in the stock market and competition in the oil and gas industry for risk capital; the company's capital costs, which may be affected by delays or cost overruns; cost of production; environmental and other regulations, as the same presently exist or may later be amended; the company's ability to identify, finance and integrate any future acquisitions; and the volatility of the company's stock price. You are urged to carefully review and consider the cautionary statements and other disclosures. Forward-looking statements speak only as of the date of the document in which they are contained, and Energy Hunter does not undertake any duty to update any forward-looking statements except as may be required by law.
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SOURCE Energy Hunter Resources, Inc.
