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Memorial Resource Development Plans Stock Buyback

Memorial Resource Development Corp. reported that its Board of Directors has authorized the repurchase of up to $50 million of MRD's common stock.

In addition, MRD's bank group has re-affirmed the borrowing base under MRD's senior secured revolving credit facility at $725.0 million, based upon oil and gas reserves as of December 31, 2014. The next regular semi-annual redetermination of the borrowing base is scheduled for October 1, 2015.

Under the share repurchase program's terms, shares may be repurchased from time to time at MRD's discretion on the open market, through block trades or otherwise and are subject to market conditions, as well as corporate, regulatory and other considerations. The authorization is effective immediately.

In December 2014, MRD's Board of Directors authorized the repurchase of up to $50.0 million of MRD's outstanding common stock, which was completed in March 2015 with the repurchase of an aggregate of 2,888,684 shares of common stock. MRD retired all of the shares of common stock repurchased, and the shares of common stock are no longer issued or outstanding.

Announced Date
April 14,2015
Value  ( $MM )
50
Type
Buy Back
Use of Fund
General Purpose
Company
Memorial Resource Development Corp.
Regions
United States
Country
United States

Contacts
Memorial Resource Development Corp.
Alan Farquharson
 Sr. Vice President - Reservoir Engineering & Economics
 Houston ,Texas ,77002
 713.588.8300

Allen Finkelson
 Director
 Houston ,Texas ,77002
 713.588.8300

Anthony Dub
 Director
 Houston ,Texas ,77002
 713.588.8300

Brenda Cline
 Director
 Houston ,Texas ,77002
 713.588.8300

Chad Stephens
 Sr. Vice President - Corporate Development
 Houston ,Texas ,77002
 713.588.8300

Christopher Helms
 Director
 Houston ,Texas ,77002
 713.588.8300

David Poole
 Sr. Vice President - General Counsel & Corporate Secretary
 Houston ,Texas ,77002
 713.588.8300

Dori Ginn
 Sr. Vice President - Controller & Principal Accounting Officer
 Houston ,Texas ,77002
 713.588.8300

Gregory Maxwell
 Director
 Houston ,Texas ,77002
 713.588.8300

James Funk
 Director
 Houston ,Texas ,77002
 713.588.8300

Jeffrey Ventura
 Director
 Houston ,Texas ,77002
 713.588.8300

Jeffrey Ventura
 Chairman, President & CEO
 Houston ,Texas ,77002
 713.588.8300

John Applegath
 Sr. Vice President - Northern Louisiana
 Houston ,Texas ,77002
 713.588.8300

Kevin McCarthy
 Director
 Houston ,Texas ,77002
 713.588.8300

Mary Ralph Lowe
 Director
 Houston ,Texas ,77002
 713.588.8300

Ray Walker, Jr.
 Executive Vice President - Chief Operating Officer
 Houston ,Texas ,77002
 713.588.8300

Robert Innamorati
 Director
 Houston ,Texas ,77002
 713.588.8300

Roger Manny
 Executive Vice President Chief Financial Officer
 Houston ,Texas ,77002
 713.588.8300

Steffen Palko
 Director
 Houston ,Texas ,77002
 713.588.8300


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Announced Date Title Company Value($MM) Financing Type
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2019-10-01 Superior Energy Services Plans $15MM Stock Buyback Superior Energy Services, Inc. 15 Buy Back
2019-05-22 FTS International to Buyback $100 Million in Stock FTS International Inc. 100 Buy Back