Ring Energy, Inc. Announces the Appointments of Mr. John A. Crum and Mr. Richard E. Harris to the Board of Directors
October 29 2020 - 5:12PM
Business Wire
Ring Energy, Inc. (NYSE American: REI) (“Company”)(“Ring”)
announced today the appointments of Mr. John A. Crum and Mr.
Richard E. Harris to the Company’s Board of Directors. Mr. Crum and
Mr. Harris will be joining as independent Directors.
Mr. Crum has been involved with worldwide oil and gas
development for more than 40 years. He is the managing partner of
JAC Energy Partners, LLC, which was formed to provide advice to
companies and individual investors in oil and gas exploration and
development. Mr. Crum began his career with Conoco in 1975. He has
held positions of responsibility for several independent
exploration and production companies including vice president of
engineering and operations of Aquila Energy Corporation, district
and regional manager for Pacific Enterprises Oil Company and
district engineer roles for Southland Royalty Company. From 1995 to
2011, Mr. Crum served in a variety of executive roles for Apache
Corporation, including co-chief operating officer and president,
North America, president Apache Canada Ltd., managing director
Apache North Sea (UK), managing director Apache Energy LTD.
(Australia), and executive vice president for Eurasia and worldwide
new ventures. From 2011 to 2014, Mr. Crum served as chairman,
president and chief executive officer of Midstates Petroleum
Company, Inc., where he led the public offering completed in April
2012 and the subsequent expansion of the company with acquisitions
totaling $1.3 billion. He directed a very active development
program, increasing production to over 33,000 barrels of oil
equivalent per day (“Boepd”) in 18 months. Mr. Crum holds a
Bachelor of Science degree in petroleum engineering from the New
Mexico Institute of Mining and Technology.
Mr. Harris holds a Bachelor of Science degree in Mathematics,
magna cum laude (1974), and an MBA (1981), both from John Carroll
University in University Heights, Ohio. He started his career by
entering the Management Development program at The National City
Bank of Cleveland in 1974 and remained there until 1979 in a
variety of roles including managing a profit center. From 1981
until 1995, Mr. Harris worked for BP America, Inc. (BPA)/SOHIO and
held a variety of IT, finance and treasury positions, including a
two year assignment working for BP Oil Europe in Brussels, Belgium.
His last assignment before leaving BPA in 1995 was as Manager,
Business Finance for BP America’s downstream oil business. In 1995
Mr. Harris joined Compaq Computer Corporation (“Compaq”) and until
1999 was responsible for implementing and leading capital markets,
treasury financial planning and merger & acquisition business
support. From 1999 until 2002, Mr. Harris was the Assistant
Treasurer, Global Treasury at Compaq with responsibility for seven
Treasury Departments around the world. In 2003 Mr. Harris joined
Cummins Inc. (“Cummins”), and remained with Cummins until he
retired in 2015. From 2008 until 2015, Mr. Harris was Vice
President, Chief Investment Officer with responsibility for
overseeing the sourcing, evaluation and execution of the company’s
acquisitions, investments, joint ventures and divestments on a
global basis. Mr. Harris served as the Secretary of the Finance
Committee of the Board of Directors his entire 13 year career with
Cummins. Key responsibilities included financial planning, cash
management, pension management, as well as foreign exchange and
debt hedging activities.
Mr. Crum and Mr. Harris will replace Mr. Stanley McCabe,
Co-founder of Ring Energy, Inc., and Mr. David Fowler, President of
Ring Energy, Inc., who have resigned their seats on the Board of
Directors.
Mr. Paul McKinney, Chief Executive Officer and Chairman of the
Board, commented, “I would personally like to thank both Stan
McCabe and David Fowler for their years of service on the Board of
Directors. Their efforts have been vital in the growth and
development of Ring Energy. Also, I would like to say how pleased
we are to welcome both John Crum and Richard Harris to the Board of
Directors of Ring Energy, Inc. Both have had very successful
careers and have extensive management backgrounds which will prove
invaluable as our company continues to grow and develop.”
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development and
production company with current operations in Texas and New Mexico.
www.ringenergy.com
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements involve a wide variety of risks and uncertainties, and
include, without limitations, statements with respect to the
Company’s strategy and prospects. Such statements are subject to
certain risks and uncertainties which are disclosed in the
Company’s reports filed with the SEC, including its Form 10-K for
the fiscal year ended December 31, 2019, its Form 10Q for the
quarter ended June 30, 2020 and its other filings with the SEC.
Readers and investors are cautioned that the Company’s actual
results may differ materially from those described in the
forward-looking statements due to a number of factors, including,
but not limited to, the Company’s ability to acquire productive oil
and/or gas properties or to successfully drill and complete oil
and/or gas wells on such properties, general economic conditions
both domestically and abroad, and the conduct of business by the
Company, and other factors that may be more fully described in
additional documents set forth by the Company.
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