FORT WORTH, Texas, Aug. 25, 2016 /PRNewswire/ — Lonestar Resources US, Inc. (NASDAQ: LONE) is pleased to announce that, effective immediately, John H. Pinkerton, a Director of the Company since March, 2015, has assumed the role of Chairman of the Board.
Mr. Pinkerton became a director of Range Resources Corporation in 1988 and was elected Chairman of the Board of Directors in 2008. He joined Range Resources as President in 1990 and was appointed Chief Executive Officer in 1992. In 2012, Mr. Pinkerton retired as Chief Executive Officer and stepped down as Chairman on January 1, 2015 and as a Director on April 11, 2016. Previously, Mr. Pinkerton served in various capacities at Snyder Oil Corporation for twelve years, including the position of Senior Vice President. Mr. Pinkerton received his Bachelor of Arts degree in Business Administration from Texas Christian University, where he now serves on the board of trustees, and a Master’s degree from the University of Texas at Arlington.
During his 27-year tenure at Range Resources, Mr. Pinkerton was responsible for guiding it from its small cap origins to be the $9 billion dollar enterprise (by market capitalization plus debt) it is today with a strong position in the Marcellus Shale, one of the Unite States’ most attractive unconventional natural gas basins. As its Chief Executive Officer, Mr. Pinkerton transformed Range Resources by establishing the technical expertise to enable a drilling-led strategy complemented by bolt-on acquisitions where synergies would enhance growth. Since 2004, John focused on expanding Range Resource’s acreage and reserves in the Marcellus Shale. Under his leadership, Range experienced a substantial increase in the scale of the business, and seven consecutive years of double-digit growth in both production volume and reserves (adjusted for debt).
Mr. Pinkerton has experience in the management, acquisition and divestiture of oil and gas properties—including related corporate financing activities—hedging, risk analysis and the evaluation of drilling programs. He has represented the industry in policy matters, serving on the executive committee of America’s Natural Gas Alliance. Frank D. Bracken, III, Lonestar’s Chief Executive Officer, commented, “We believe John’s industry experience and leadership will be an enormous benefit as Lonestar continues to execute its growth strategy. We are delighted that John shares our vision of growing Lonestar’s leasehold, reserves and asset value and am confident that having John as our Chairman will be a difference-maker to our Company.” Bernard Lambilliotte, Lonestar’s director and retiring Chairman, added, “John has contributed meaningfully to Lonestar’s ability to emerge stronger from the tough oil markets of the past eighteen months. We believe the Company is now well-positioned to create shareholder value and I look forward to John helping Lonestar to unlock its full potential.”