Legacy Reserves LP (NASDAQ: LGCY) announced Feb. 25 the appointment of Kyle M. Hammond as executive vice president and COO, effective March 1.
Hammond is replacing Paul T. Horne, who will become president and CEO of the Midland, Texas-based company as Cary D. Brown steps down.
"As previously released, this is my last week as CEO," Brown said in a statement. "I look forward to serving the company as I transition my role to chairman. While we and our industry face an uphill battle given current commodity prices, I am extremely comforted by the team we have put in place to navigate these difficult waters. With our long-lived, low-decline assets, solid hedges, and ample liquidity under our revolver, we are well positioned for the future."
Prior to joining Legacy, Hammond founded and served as president and CEO of FireWheel Energy LLC since August 2011. Before that, he served as vice president of operations for the Permian division of XTO Energy Inc./ExxonMobil Corp. (NYSE: XOM) from 2003-2011. While there, he managed the growth of the Permian assets as well as their Alaskan operations. He earned a bachelor of science in Petroleum Engineering from Texas A&M University. He currently serves on the board of directors of Abilene Christian University and Midland Christian School.
Horne added, "I am thrilled to have Kyle Hammond join the team. I've known Kyle since our time together at Texas A&M and respect the person, oilman, and Aggie engineer that he is. The operational, management and growth experience he gained at XTO will help us immensely at Legacy."
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