Lilis Energy Inc. said that Ron Ormand, currently chairman of the board of directors and CEO, has notified the board of his planned retirement from the company effective June 6.
The board has elected David M. Wood to serve as chairman of the board and Joe Daches, currently president and CFO, to serve as interim CEO while a search for a new CEO is conducted.
“On behalf of the entire Board, we wish to express our gratitude to Ron for the vision he brought to the creation of Lilis Energy, and for his dedication in getting the company to where it is today. We all wish Ron the very best in his retirement and look forward to his continuing contributions as a member of our Board,” Wood said.
Recommended Reading
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Talos Ups Buybacks, Pays Down Debt Post $1.29B QuarterNorth Deal
2024-07-22 - Talos Energy said it repaid $325 million in debt since closing its $1.29 billion cash-and-stock acquisition of E&P QuarterNorth in March.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
2024-07-23 - Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
The ABCs of ABS: Financing Technique Shows Flexibility and Promise
2024-07-29 - As the number of ABS deals has grown, so have investors’ confidence with the asset and the types of deals they are willing to underwrite.
Halliburton Sees NAM Activity Rebound in ‘25 After M&A Dust Settles
2024-07-19 - Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.