– USA, CO – Extraction Oil & Gas, Inc. (NASDAQ: XOG) today announced that Mark Erickson, CEO and Chairman of the Board, is departing from the Company. and that the Company has appointed Thomas B. Tyree, Jr. as Executive Chairman, effective on March 4, 2020.
In addition, Matt Owens has been named permanent CEO and will also maintain his roles as President and member of the Board effective on March 4, 2020.
As Executive Chairman, Mr. Tyree will work with the Board and management team to formulate strategy and oversee the operations of the Company, working in close coordination with Extraction’s President and CEO, Matt Owens.
“On behalf of myself, Extraction’s Board of Directors and all our employees, I would like to thank Mark Erickson for his invaluable contributions to the Company’s growth and maturation since he and I founded Extraction together back in 2012. We all wish him and his family the very best,” said President and CEO, Matt Owens.
“While we are saddened by Mark’s departure, we are excited to welcome Tom Tyree to our Board of Directors as Executive Chairman. With decades of energy and finance industry experience, Tom brings a wealth of financial knowledge and a strategic understanding of our business that we expect will greatly benefit all of Extraction’s stakeholders,” Owens said.
About Thomas B. Tyree, Jr.
Mr. Tyree currently serves as a director of Antero Resources Corporation and as non-executive Chairman of the Board of Northwoods Energy LLC, a private oil and gas company with assets in Wyoming’s Powder River Basin. Mr. Tyree was previously Northwoods’ founder, CEO, and Executive Chairman, from January 2018 until April 2019. Mr. Tyree also served as a Director of Bonanza Creek Energy from April 2017 through March 2020. Before that, he served as President, Chief Financial Officer and member of the Board of Managers of Vantage Energy, LLC and as Chief Financial Officer of Bill Barrett Corporation. Prior to Bill Barrett, from 1989 to 2003, Mr. Tyree was an investment banker at Goldman, Sachs & Co., ultimately serving as Managing Director in the Energy Group. Mr. Tyree earned a Bachelor of Arts degree from Colgate University, where he currently serves as a member of its Board of Trustees. He also holds a Master of Business Administration degree from the Wharton School at the University of Pennsylvania.
About Matthew R. Owens
Mr. Owens currently serves as President and has been acting CEO of the Company since April 2019 and is a member of the Board. Prior to founding the Company in 2012 with Mr. Erickson, Mr. Owens served as an Operations Engineer at PDC Energy and Gasco Energy. Mr. Owens holds a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines.
About Extraction Oil & Gas, Inc.
Denver-based Extraction Oil & Gas, Inc. is an independent energy exploration and development company focused on exploring, developing and producing crude oil, natural gas and NGLs primarily in the Wattenberg Field in the Denver-Julesburg Basin of Colorado. For further information, please visit www.extractionog.com. The Company’s common stock is listed for trading on the NASDAQ under the symbol: “XOG.”
For more information: https://extractionog.com
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