Sanchez Energy Expands Leadership with Appointments of Chief
Operating Officer and New Executive Chairman; Appoints Additional
Independent Director to its Board
HOUSTON, Nov. 28, 2012 /PRNewswire/ -- Sanchez Energy
Corporation (NYSE: SN), a fast growing independent oil and gas
company with a 95,000 net acre position in the liquids-rich Eagle
Ford formation in South Texas,
announced today that it has appointed Joseph R. DeDominic as its new Senior Vice
President and Chief Operating Officer.
In addition, Sanchez Energy announced today that it has
appointed A.R. Sanchez, Jr. as the
new Executive Chairman of its Board of Directors and Alan G. Jackson as a new independent member of
its Board of Directors. Mr. Jackson was appointed to Sanchez
Energy's Compensation and Nominating and Corporate Governance
Committees and was also appointed to serve on the Audit Committee
where, consistent with the NYSE's transition period rules and as
previously contemplated, he will replace Tony Sanchez III on the Audit Committee.
The appointments of Messrs. Sanchez and Jackson bring the total
size of Sanchez Energy's Board of Directors to five, with three
directors serving independently.
Tony Sanchez III, President and
Chief Executive Officer, stated "given their breadth of knowledge,
experience and their significant accomplishments in the oil and gas
business, Sanchez Energy is fortunate to add both Mr. DeDominic and
Mr. Sanchez to key leadership positions in its executive
ranks. We look forward to working closely with both of them
as Sanchez Energy executes on its strategic plans. We are
also pleased to add Mr. Jackson as a new independent director to
our Board of Directors and look forward to his significant
contributions to the strength and integrity of the Board of
Directors and its corporate governance practices."
Mr. DeDominic has served in various positions at Occidental
Petroleum Corporation and its affiliates ("Oxy") from
2000 until November 2012, including
most recently as President and General Manager of the Williston
Business Unit. He has over 24 years of oil and gas industry
experience with roles of increasing responsibility managing
exploration, production, operations and business development, both
in the U.S. and internationally. In his most recent role, he
led the acquisition and growth of Oxy's Bakken and Three Forks
assets in North Dakota, where he
was responsible for all aspects of business operations, including
drilling, completions, production, facilities, land, geological and
geophysical, human resources, health, safety and environment,
regulatory and finance. His previous roles with Oxy include
Director, Business Development/North American Growth, Exploration
Manager, Libya and Chief
Geologist, Colombia. Mr. DeDominic received a Bachelor of
Arts in Geology from the University of
Montana and a Master of Science in Geology from Texas A&M University.
Mr. Sanchez is the co-founder, Chief Executive Officer, and
Chairman of the Board of Directors of Sanchez Oil & Gas
Corporation, a private oil and natural gas company engaged in the
exploration and development of oil and natural gas, primarily in
Texas and the onshore Gulf Coast on behalf of its affiliates. Mr.
Sanchez has close to 40 years of experience in the oil and natural
gas industry. He was instrumental in identifying and
acquiring certain of Sanchez Energy's key Eagle Ford properties and
in the successful completion of its initial public offering.
Mr. Sanchez continues to maintain and develop the deep
relationships with South Texas
landowners that are critical to Sanchez Energy's growth. He
received his Bachelor of Arts and Doctor of Jurisprudence degrees
from St. Mary's University in San Antonio,
Texas.
Mr. Jackson is a Senior Commercial Producer at IBC Insurance
Agency, Ltd. ("IBC") and the former co-owner of
Inscorp, Inc., a leading commercial insurance agent/brokerage in
South Texas, which was acquired by
IBC in 2009. Mr. Jackson has been in the insurance business
since 1969, working with many land and mineral owners and their
representative brokers, bankers and attorneys, and with many oil
and gas operators, non-operators, investors, service companies, and
logistics carriers in the energy industry throughout South Texas, including the Eagle Ford
Shale. Mr. Jackson received his Bachelor of Business
Administration from Texas A&M University
at Kingsville, Texas and is a
graduate of the University of Texas,
McCombs School of Business'
Management Development Program.
About Sanchez Energy Corporation
Sanchez Energy Corporation is a Houston, Texas based growth oriented
independent exploration and production company currently focused on
the prolific Eagle Ford Shale trend of South Texas. The
company has 95,000 net acres in the volatile oil, black oil, and
gas condensate windows of the Eagle Ford. For more
information about Sanchez Energy Corporation, please visit our
website: www.sanchezenergycorp.com
Forward Looking Statements
This press 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. All
statements, other than statements of historical facts, included in
this press release that address activities, events or developments
that Sanchez Energy expects, believes or anticipates will or may
occur in the future are forward-looking statements. These
statements are based on certain assumptions made by the company
based on management's experience, perception of historical trends
and technical analyses, current conditions, anticipated future
developments and other factors believed to be appropriate and
reasonable by management. When used in this press release,
the words "will," "potential," "believe," "estimate," "intend,"
"expect," "may," "should," "anticipate," "could," "plan,"
"predict," "project," "profile," "model," or their negatives, other
similar expressions or the statements that include those words, are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words.
Such statements are subject to a number of assumptions, risks
and uncertainties, many of which are beyond the control of Sanchez
Energy, which may cause actual results to differ materially from
those implied or expressed by the forward-looking statements,
including but not limited to, the continued production of oil and
gas at historical rates, costs of operations, delays, and any other
difficulties related to producing oil or gas, the price of oil or
gas, marketing and sales of produced oil and gas, estimates made in
evaluating reserves, competition, general economic conditions and
the ability to manage and continue growth and other factors
described in Sanchez Energy's Annual Report for the fiscal year
ended December 31, 2011 and any
updates to those risk factors set forth in Sanchez Energy's
Quarterly Reports on Form 10-Q. Further information on such
assumptions, risks and uncertainties is available in Sanchez
Energy's filings with the Securities and Exchange Commission
("SEC"). Sanchez Energy's filings with the SEC
are available on its website at www.sanchezenergycorp.com and on
the SEC's website at www.sec.gov. Any forward-looking
statement speaks only as of the date on which such statement is
made and Sanchez Energy undertakes no obligation to correct or
update any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Company contact:
Michael G. Long
Senior Vice President and Chief Financial Officer
Sanchez Energy Corporation
+1-713-783-8000
SOURCE Sanchez Energy Corporation