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Extraction CEO Departs Company; Owen Takes Helm

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   |    Thursday,March 05,2020

Extraction Oil & Gas, Inc. announced that Mark Erickson, Chief Executive Officer and Chairman of the Board, is departing from the Company.

Matt Owens has been named permanent CEO and will also maintain his roles as President and member of the Board. These changes in leadership roles are effective March 4, 2020.

Additionally, Extraction has appointed Thomas B. Tyree, Jr. as Executive Chairman. 

As Executive Chairman, Mr. Tyree will work with Extraction's Board and management team to formulate strategy and oversee the operations of the Company, working in close coordination with Extraction's President and CEO, Matt Owens.

About Thomas B. Tyree, Jr.

Mr. Tyree currently serves as a director of Antero Resources Corporation and as non-executive Chairman of the Board of Northwoods Energy LLC, a private oil and gas company with assets in Wyoming's Powder River Basin. Mr. Tyree was previously Northwoods' founder, CEO, and Executive Chairman, from January 2018 until April 2019. Mr. Tyree also served as a Director of Bonanza Creek Energy from April 2017 through March 2020. Before that, he served as President, Chief Financial Officer and member of the Board of Managers of Vantage Energy, LLC and as Chief Financial Officer of Bill Barrett Corporation. Prior to Bill Barrett, from 1989 to 2003, Mr. Tyree was an investment banker at Goldman, Sachs & Co., ultimately serving as Managing Director in the Energy Group. Mr. Tyree earned a Bachelor of Arts degree from Colgate University, where he currently serves as a member of its Board of Trustees. He also holds a Master of Business Administration degree from the Wharton School at the University of Pennsylvania.

About Matthew R. Owens

Mr. Owens currently serves as President and has been acting CEO of the Company since April 2019 and is a member of the Board. Prior to founding the Company in 2012 with Mr. Erickson, Mr. Owens served as an Operations Engineer at PDC Energy and Gasco Energy. Mr. Owens holds a Bachelor of Science in Petroleum Engineering from the Colorado School of Mines.