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Sanchez Production Partners LP announced that Stephen R. Brunner, SPP’s President and Chief Executive Officer, will leave the partnership effective at the close of business March 11, 2015.
Commenting on his departure, Mr. Brunner stated: “Last week, we announced the successful conversion of SPP from a limited liability company to a limited partnership. Having seen the conversion process to its end, it is now time for me to pursue other interests. To the management team and staff of SPP, I humbly offer my thanks for their support and dedicated effort that has led us to where we are today. SPP is about to embark on a new beginning, and I firmly believe the future is very bright for our partnership.”
Tony Sanchez, III, Co-President of Sanchez Oil & Gas Corp. and a director on the board of directors of SPP’s general partner, SP Holdings, LLC, commented: "On behalf of SPP’s unitholders, our board, and our employees, I would like to thank Steve for his many years of service to and leadership of SPP. Steve and his team have met some significant challenges head-on and have overcome them, successfully positioning SPP for the next phase of its development. The partnership is stronger today because of Steve’s leadership.
"We are not announcing a new CEO for SPP at this time. We will, instead, leverage the operating and management capabilities of the general partner in the day-to-day management of SPP, with an eye towards actively working to further minimize the partnership’s G&A costs over time.”