HOUSTON, TX -- (Marketwired) -- 07/11/13 -- Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) ("Magnum Hunter" or the "Company") announced today that the Company has appointed Joseph C. Daches as Senior Vice President and Chief Financial Officer (CFO) effective July 22, 2013. Ronald Ormand, the Company's current Chief Financial Officer, will continue with the Company as Executive Vice President-Finance and assume an additional role as Head of Capital Markets.
Mr. Daches brings more than 20 years of regulatory compliance, financial reporting, technical accounting, management and oil and gas accounting experience, primarily within the energy industry. Prior to joining Magnum Hunter, Mr. Daches served as Executive Vice President and Chief Accounting Officer of Energy & Exploration Partners, Inc. since September 2012 and became a Director of that company in April 2013. He previously served as Partner and Managing Director of the Willis Consulting Group, LLC, from January 2012 to September 2012 and from October 2003 to December 2011, Mr. Daches served as the Director of E&P Advisory Services at Sirius Solutions, LLC, where he was primarily responsible for financial reporting, technical, and oil and gas accounting and the overall management of the E&P advisory services practice. Mr. Daches earned a Bachelor of Science in Accounting from Wilkes University in Pennsylvania, and he is a CPA in good standing with the Texas State Board of Public Accountancy.
In Mr. Ormand's expanded role as Head of Capital Markets, he will focus exclusively on the Company's financial, banking and capital markets activities.
Magnum Hunter Management Comments
Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter Resources, commented, "Joe Daches will take over the role of overseeing our Company's entire accounting department as well as our future financial reporting and regulatory compliance requirements. Our accounting group has gone through a difficult period having endured two audits over the past six months. Now that we are current on all our annual and quarterly SEC reporting requirements, the Company can increase its focus on implementing the processes, systems and controls to ensure seamless financial statement reporting in the future. We believe Joe Daches, in conjunction with our existing accounting team, has the experience, background and knowledge to implement these necessary changes. Ron Ormand can now better assist me and the Company by being able to focus exclusively on financial and capital markets issues."
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation and subsidiaries are a Houston, Texas based independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia, Ohio, Kentucky and North Dakota. The Company is presently active in three of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale and Williston Basin/Bakken Shale.
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