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Rosehill Resources President & CEO JA (Alan) Townsend plans to retire from the company.
Mr. Townsend will serve in his capacity as Director, President and Chief Executive Officer while the Company searches for his replacement.
Gary C. Hanna, Chairman of the Board of Directors, said, "We thank Alan for his dedicated service to Rosehill. He led the Company since its formation through the transformational business combination in April 2017. His leadership has been instrumental in Rosehill's successes, which includes doubling reserves to over 31.1 MBOE from year-end 2016 to year-end 2017 and tripling average daily production since inception to over 15,000 BOEPD for March 2018. Having a CEO with over four decades of industry experience has been invaluable for expanding our footprint into a second core area in the Southern Delaware Basin and assembling a very capable management team."
Mr. Hanna continued, "We are very enthusiastic about the Company's 2018 performance to date and are grateful Alan has agreed to stay with the Company while we transition leadership to his successor. We will continue to pursue our goals to grow through the drillbit and through additional acquisition opportunities in the Delaware Basin, as well as to further strengthen our balance sheet."
"I am proud of Rosehill's achievements during the last year and equally proud of the many years of hard work our team put in as Tema Oil and Gas prior to the business combination that made the last year possible," said Mr. Townsend. "We set and achieved ambitious goals in 2017, and 2018 is off to a great start. However, after 45 years in the oil and gas industry, the time is right for me to transition away from my full-time professional responsibilities."
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