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Memorial Resource Development Repurchases $50MM in Stock

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

John Weinzierl, Chief Executive Officer of MRD, commented: "MRD is committed to delivering shareholder returns, and our management team and Board of Directors believe that at recent trading levels a share repurchase program represents a compelling value proposition that will deliver long-term value to our shareholders. We enacted this program to allow MRD to quickly and efficiently take advantage of any share price volatility in the future. Additionally, our ample liquidity position, low leverage, and high-return asset base provide us with the financial flexibility to execute on this program and our future development plan. If current market conditions persist, we will continue to evaluate our options of enhancing shareholder value, including potentially through additional disciplined share repurchases."

Under the 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.

Announced Date
December 16,2014
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
 Chairman, President & CEO
 Houston ,Texas ,77002
 713.588.8300

Jeffrey Ventura
 Director
 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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