TULSA, Okla.--(BUSINESS WIRE)--Apco Oil and Gas International Inc. (NASDAQ:APAGF) today named Richard E. (Rick) Muncrief as its new chairman and board member, succeeding James J. Bender who has retired.
Muncrief, 55, is a petroleum engineer who has more than 30 years of upstream and midstream energy experience. He is the chief executive officer of WPX Energy (NYSE:WPX), which owns a 69 percent controlling ownership interest in Apco.
Prior to WPX, Muncrief was the senior vice president of operations and resource development at Continental Resources (NYSE:CLR) where he oversaw corporate engineering, reservoir development, drilling, production operations and supply chain management.
Bender joined Apco as chairman at the beginning of 2014 and also served as interim CEO at WPX this year preceding Muncrief’s appointment to the role in May.
Apco’s existing operations management remains the same, led by Bryan K. Guderian as chief executive officer and Michael Kyle who serves as Apco's president and chief operating officer.
“Orderly transitions at Apco have ensured the continuity of our focus and the successful execution of our drilling and development plans,” said Keith E. Bailey, the independent board chair for Apco’s nominating committee.
“We’re pleased to welcome Rick as our next chairman. He’s action-oriented, is a high-character, high-caliber leader and is someone who understands the fundamentals of our sector,” Bailey added.
About Apco Oil and Gas International Inc. (NASDAQ: APAGF)
Apco Oil and Gas International Inc. is an international oil and gas exploration and production company with interests in nine oil and gas concessions and two exploration permits in Argentina, and three exploration and production contracts in Colombia. More information is available at www.apcooilandgas.com. Go to http://www.b2i.us/irpass.asp?BzID=1671&to=ea&s=0 to join our e-mail list.
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- Financial condition and liquidity;
- Business strategy;
- Estimates of proved gas and oil reserves;
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- Availability of supplies (including the uncertainties inherent in assessing, estimating, acquiring and developing future oil and natural gas reserves), market demand, volatility of prices, and the availability and cost of capital;
- Inflation, interest rates, fluctuation in foreign currency exchange rates, and general economic conditions (including future disruptions and volatility in the global credit markets and the impact of these events on our customers and suppliers);
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- Development of alternative energy sources;
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In addition to causing our actual results to differ, the factors listed above may cause our intentions to change from those statements of intention set forth in this announcement. Such changes in our intentions may also cause our results to differ. We may change our intentions, at any time and without notice, based upon changes in such factors, our assumptions, or otherwise.
Investors are urged to closely consider the disclosures and risk factors in our most recent annual report on Form 10-K filed with the SEC and our quarterly reports on Form 10-Q available from our offices or from our website at www.apcooilandgas.com.