PostRock Appoints New President
17 Giugno 2011 - 7:01PM
PostRock Energy Corporation (Nasdaq:PSTR)
("PostRock" or the "Company") today announced that its Board has
elected Terry W. Carter as Interim President and Chief Executive
Officer. Mr. Carter has already begun work at the Company and
will assume his titles and a seat on the Board of Directors upon
Mr. Lawler's departure. He and the Board hope to make his
position permanent within 60 days.
Mr. Carter brings over thirty years of industry experience to
his new role. Mr. Carter began his career as a petroleum
engineer for ORYX Energy, formerly Sun Exploration and
Production. In the course of his more than 20 years with
ORYX/Sun, he rose to become Manager of Operations in
Dallas. He was then recruited to become Executive Vice
President of Exploration and Production at Range Resources
Corporation. While at Range, he worked closely with Mr.
Edelman, the then Chairman of Range and currently one of White
Deer's representatives on the PostRock Board. Subsequently,
Mr. Carter was chosen as President and Chief Executive Officer of
Ascent Energy, Inc., a private exploration and production company
later sold to Ram Energy Resources. Since 2007, Mr. Carter has
been a principal of a number of private oil and gas
ventures.
Duke R. Ligon, the Chairman of PostRock's Board, commented, "We
are very pleased to announce Terry's appointment as our new
President and Chief Executive Officer. We believe Terry's extensive
industry experience and impressive track record are an ideal fit
for PostRock at this juncture in its history. With almost all
of the Company's historical issues now resolved, we are finally
ready to aggressively pursue a strategy of consistent growth and
profitability. We look forward to Terry's leadership in that
effort and to having the benefits of his broad base of
experience."
PostRock Energy Corporation is engaged in the acquisition,
exploration, development, production and transportation of oil and
natural gas, primarily in the Cherokee Basin of Kansas and
Oklahoma. The Company owns and operates over 3,000 wells and nearly
2,200 miles of gas gathering lines in the Basin. It also owns a
1,120 mile interstate natural gas pipeline, which transports
natural gas from northern Oklahoma and western Kansas to Wichita
and Kansas City.
The PostRock Energy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7221
CONTACT: Jack Collins
Chief Financial Officer
(405) 702-7460
North Whipple
Manager, Corporate Development & Investor Relations
(405) 702-7423
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