Ring Energy Announces Addition to Management Team
Ring Energy (NYSE American: REI) announced the appointment of James J. Parr as Executive Vice President, Exploration and Geosciences. Parr brings over 30 years of energy leadership experience in upstream petroleum operations. The addition aims to enhance Ring's capability for value creation through organic and inorganic growth opportunities. CEO Paul D. McKinney highlighted Parr's track record in successful capital allocation and portfolio management, noting his expertise in achieving low-cost reserve additions and positive financial impacts.
Ring Energy (NYSE American: REI) ha annunciato la nomina di James J. Parr come Vicepresidente Esecutivo, Esplorazione e Scienze Geologiche. Parr porta con sé oltre 30 anni di esperienza nella leadership energetica nel settore delle operazioni petrolifere upstream. Questa aggiunta mira a potenziare la capacità di Ring nella creazione di valore attraverso opportunità di crescita organica e inorganica. Il CEO Paul D. McKinney ha evidenziato il comprovato curriculum di Parr nella gestione efficace del capitale e del portafoglio, sottolineando la sua competenza nell'ottenere aggiunte a riserve a basso costo e impatti finanziari positivi.
Ring Energy (NYSE American: REI) anunció el nombramiento de James J. Parr como Vicepresidente Ejecutivo de Exploración y Geociencias. Parr aporta más de 30 años de experiencia en liderazgo energético en operaciones petroleras upstream. La incorporación busca mejorar la capacidad de Ring para crear valor a través de oportunidades de crecimiento orgánico e inorgánico. El CEO Paul D. McKinney destacó el historial de Parr en la asignación exitosa de capital y la gestión de carteras, señalando su experiencia en lograr adiciones de reservas de bajo costo y efectos financieros positivos.
링 에너지 (NYSE American: REI)는 제임스 J. 파르를 부사장, 탐사 및 지구과학으로 임명했다고 발표했습니다. 파르는 상류 석유 운영에서 30년 이상의 에너지 리더십 경험을 가지고 있습니다. 이 추가는 유기적 및 비유기적 성장 기회를 통해 링의 가치 창출 능력을 강화하는 것을 목표로 하고 있습니다. CEO 폴 D. 매킨니는 파르의 효과적인 자본 배분 및 포트폴리오 관리에서의 실적을 강조하며, 저비용으로 저축을 추가하고 긍정적인 재무적 영향을 달성하는 그의 전문성을 언급했습니다.
Ring Energy (NYSE American: REI) a annoncé la nomination de James J. Parr en tant que Vice-président Exécutif, Exploration et Géosciences. Parr apporte plus de 30 ans d'expérience en leadership dans le secteur de l'énergie, notamment dans les opérations pétrolières en amont. Cette nomination vise à renforcer la capacité de Ring à créer de la valeur à travers des opportunités de croissance organique et inorganique. Le PDG Paul D. McKinney a souligné les antécédents de Parr en matière d'allocation de capital réussie et de gestion de portefeuille, notant son expertise dans l'ajout de réserves à faible coût et les impacts financiers positifs.
Ring Energy (NYSE American: REI) gab die Ernennung von James J. Parr zum Exekutiv-Vizepräsidenten für Exploration und Geowissenschaften bekannt. Parr bringt über 30 Jahre Führungserfahrung in der Energiebranche im Bereich der Upstream-Öloperationen mit. Die Ergänzung soll die Fähigkeit von Ring zur Wertschöpfung durch organische und anorganische Wachstumschancen stärken. CEO Paul D. McKinney hob Parrs Erfolgsbilanz in der erfolgreichen Kapitalallokation und Portfoliomanagement hervor und nannte seine Expertise bei der Erzielung von kostengünstigen Reserven und positiven finanziellen Auswirkungen.
- Strategic hire of experienced executive with 30+ years in upstream petroleum operations
- Addition aims to enhance capabilities for organic and inorganic growth opportunities
- New EVP brings expertise in successful capital allocation and low-cost reserve additions
- None.
Insights
The appointment of James Parr as EVP of Exploration and Geosciences, while bringing significant industry experience, represents a routine management change that falls below the threshold of market-moving news. Despite his impressive 30-year background and potential future contributions, executive appointments below the CEO level typically don't have immediate material impact on company valuation or stock performance. The announcement lacks specific strategic initiatives, financial targets, or immediate operational changes that would warrant heightened investor attention.
THE WOODLANDS, Texas, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced the addition of a new senior technical executive.
Mr. James J. Parr joins Ring as Executive Vice President, Exploration and Geosciences. Mr. Parr is an experienced petroleum geologist with over 30 years of energy leadership in all aspects of the upstream petroleum business in multiple global organizations. As a key member of the executive team, Ring Energy is enhancing its ability for further value creation through identification, capture, and execution of both organic and inorganic growth opportunities.
Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “I have had the pleasure of working closely with James in the past, who is a respected oil finder with an established history of successful capital allocation and portfolio management resulting in impactful, low-cost reserve additions, and related positive contributions to the bottom line. We look forward to leveraging James’ extensive technical background and industry experience to help grow our opportunity set of highly attractive drilling prospects targeted to further maximize the Company’s cash flow, improve the balance sheet, and drive increased value for our stockholders.”
About Mr. Parr
Prior to joining Ring, from June 2022, Mr. Parr served as Vice President, Global New Ventures for Woodside Energy, where he was responsible for core exploration and business development activities worldwide while also supporting upstream M&A. Preceding BHP’s merger with Woodside in 2022, Mr. Parr served as Head of Growth, Petroleum for BHP Petroleum from 2021. Mr. Parr served as Director of International Exploration for Anadarko Petroleum Corporation from 2018 until acquisition by OXY at the end of 2019. From 2011 to 2018, Mr. Parr was Vice President, International New Ventures and Gulf of Mexico for APA (formerly Apache) Corporation. Before joining Apache, from 2004 to 2011, Mr. Parr served as Director, Exploration and Business Development for Cabot Oil & Gas Corporation after serving in several roles of increasing responsibility with Anadarko, ARCO and BP.
Mr. Parr earned a B.S. degree in Geological Sciences (Honors) from the University of Aston (Birmingham, England) followed by doctoral studies in Earth Sciences at the University of Cambridge (Cambridge, England). Additionally, Mr. Parr has participated in executive management programs at Thunderbird School of Executive Management (Arizona State University), Wharton Business School (University of Pennsylvania), and Cox School of Business (Southern Methodist University in Dallas, Texas). Mr. Parr is a Texas Certified Professional Geologist (#5600).
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects, and the expected impact and timing of any new personnel or expected personnel transitions. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission, including its Form 10-K for the fiscal year ended December 31, 2023, and its other filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.
Contact Information
Al Petrie Advisors
Al Petrie, Senior Partner
Phone: 281-975-2146
Email: apetrie@ringenergy.com
FAQ
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