Ranger Energy Services Announces Appointment of Two New Independent Directors to the Board of Directors

Rhea-AI Summary

Ranger Energy Services announces the appointment of Carla Mashinski and Sean Woolverton to its Board of Directors, effective January 1, 2024. William Austin and Richard Agee will retire from the Board, and Michael Kearney will succeed Mr. Austin as Chairman. The new members bring decades of experience in the oil and gas industry.

Carla Mashinski and Sean Woolverton Bring Decades of Leadership Experience in the Oil and Natural Gas Industry

HOUSTON--(BUSINESS WIRE)-- Ranger Energy Services (NYSE: RNGR) (“Ranger” or the “Company”) announced today the appointment of Carla Mashinski and Sean Woolverton to its Board of Directors (the “Board”), effective January 1, 2024. In conjunction with the appointment of Ms. Mashinski and Mr. Woolverton, William Austin, Ranger’s Chairman of the Board, and Richard Agee will retire from the Ranger Board of Directors, effective December 31, 2023. The Board has unanimously elected Michael Kearney to succeed Mr. Austin as Chairman upon his retirement.

“We are excited to welcome Carla and Sean to the Board,” commented Michael Kearney, Chairman-elect of Ranger’s Board. “Carla and Sean are accomplished executives with decades of experience in the oil and gas industry. They were selected as part of the Board’s ongoing process to periodically enrich the Board with additional expertise and perspectives. Ranger’s Board performed a comprehensive search that was conducted with the assistance of a nationally recognized executive search firm. As the Board engaged with Carla and Sean over the last several months, it was evident that their expertise will serve Ranger, its Board and its shareholders well, and we look forward to working with them as we continue to position the Company for sustainable growth.”

Mr. Kearney added, “On behalf of the Company, I would also like to thank Bill Austin and Dick Agee for their years of service and dedication to Ranger. The Board has benefitted greatly from their significant industry expertise and their many insights and contributions to our strategy. Both Bill and Dick have been instrumental in Ranger’s growth and success, and we are deeply appreciative of the steady leadership and guidance they have provided during their tenures. We wish them all the best following their retirement from the Board.”

Mr. Austin commented, “As Chairman of the Board of Ranger for the past several years, it has been my honor to work with my colleagues on the Board and leadership team to help guide the Company, and I am proud of our many accomplishments together.”

“I am confident that the changes we announced today will position the Company well for the future,” Mr. Austin continued. “Carla and Sean are seasoned executives with strong leadership skills, operational and financial and management expertise and track records of successfully growing and improving companies. Mike Kearney has been a strong contributor on the Ranger Board and I am confident that he will be an effective Chairman. I am excited about the Company’s future, and I look forward to watching the continued success of Ranger unfold."

Ranger concurrently announced Q3 2023 earnings today, which are outlined in a separate press release.

About Carla Mashinski

Ms. Mashinski is a recognized business leader with extensive experience in the oil and gas industry, with more than 35 years of experience working for a number of diverse energy companies, including Shell Oil Company, Duke Energy, GulfMark Offshore, SASOL and Cameron LNG. Carla was formerly Chief Financial and Administrative Officer of Cameron LNG and currently sits on the boards of Primoris Services Company and BKV Corporation. She is a Certified Public Accountant and holds a Bachelor’s degree in Accounting from the University of Tennessee at Knoxville and an Executive MBA from the University of Texas at Dallas. She was recognized by WomenInc. as one of the 2019 Most Influential Corporate Board Directors; received the 2020 Breakthrough Award from Greater Houston Women’s Chamber of Commerce and 2020 Top 50 Most Powerful Women in Oil and Gas. She also authored the book Five Attributes to a Successful Career.

About Sean Woolverton

Mr. Woolverton is an accomplished industry veteran and public company CEO. He is the current Chief Executive Officer of SilverBow Resources, Inc. and was previously the Chief Operating Officer of Samson Resources Company, where he joined in November 2013. From 2007 to 2013, Mr. Woolverton held a series of positions of increasing responsibility at Chesapeake Energy Corporation, including Vice President of its Southern Appalachia business unit. Prior to joining Chesapeake Energy Corporation, Mr. Woolverton worked for Encana Corporation, a North American oil and natural gas producer, where he oversaw its Fort Worth Basin development and shale exploration teams in North Texas. Earlier in his career, Mr. Woolverton worked for Burlington Resources in multiple engineering and management roles. Mr. Woolverton received his Bachelor of Science degree in Petroleum Engineering from Montana Tech.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231031163174/en/

Ranger Energy Services, Inc.

Melissa Cougle

Chief Financial Officer

(713) 935-8900

InvestorRelations@rangerenergy.com

Source: Ranger Energy Services

FAQ

Who are the new members appointed to Ranger Energy Services' Board of Directors?

The new members appointed to Ranger Energy Services' Board of Directors are Carla Mashinski and Sean Woolverton.

When will the new appointments be effective?

The new appointments will be effective from January 1, 2024.

Who will retire from the Ranger Board of Directors?

William Austin and Richard Agee will retire from the Ranger Board of Directors.

Who will succeed William Austin as Chairman of the Board?

Michael Kearney will succeed William Austin as Chairman of the Board.

What is the reason behind the appointment of new members to the Board?

The new members were selected as part of the Board's ongoing process to periodically enrich the Board with additional expertise and perspectives.