Magnolia Oil & Gas Corporation has appointed R. Lewis Ropp as an independent director of the board, effective immediately. Mr. Ropp will serve as a member of the audit committee. His extensive background in finance, capital markets, investment management, and oil and gas operations makes him a valuable addition to Magnolia's board.
Ropp's career includes roles as a lead equity portfolio manager at Barrow Hanley Global Investors, a research analyst covering exploration and production companies at Howard, Weil, Labouisse, Friedrichs, Inc., and Frost Securities, Inc., as well as management positions in the oil service industry and a major integrated oil company. He also has expertise in safety and environmental compliance in the energy industry.
Additionally, Ropp has served on the advisory board of Gasology LLC, a private equity-backed energy technology company, and on the boards of trustees of SAMS, USA, Leukemia Texas, and Texas Water Mission.
Magnolia Oil & Gas Corporation, a publicly traded oil and gas exploration and production company, primarily operates in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. The company focuses on delivering steady, moderate annual production growth and generating high pre-tax margins and consistent free cash flow. In the last period, the company reported steady, moderate annual production growth and strong cash returns to shareholders. Today the company's shares have moved -0.3% to a price of $23.79. If you want to know more, read the company's complete 8-K report here.
