Permian Resources announces changes to senior leadership

(WO) — Permian Resources Corporation announced the pending retirements of two executive officers of the Company, along with their respective succession plans on Dec. 14.

Permian Resources’ Board of Directors expects to appoint Steve Gray as non-executive Chairman of the Board, succeeding Sean Smith, who has notified the Board of his plans to retire from the Board, effective Dec. 31, 2022.

Steve Gray has more than forty years of operational and financial experience within the energy industry. Previously, Mr. Gray was the Founder, Director and Chief Executive Officer of RSP Permian until its merger with Concho Resources.

Additionally, Mr. Gray was on the Board of Concho Resources before its sale to ConocoPhillips and currently serves on the Board of Range Resources Corporation.

George Glyphis, Executive Vice President and Chief Financial Officer, also announced his plans to retire following a nearly 30-year career in the oil and gas industry. Permian Resources announced that Guy Oliphint will join the Company as Executive Vice President of Finance, effective Jan. 3, 2023.

Guy Oliphint will succeed Mr. Glyphis and assume the role of Executive Vice President and Chief Financial Officer, effective March 1, 2023. Mr. Glyphis intends to remain employed as a Senior Advisor to the Company until his retirement in mid-2023 to ensure a smooth succession.

Most recently, Mr. Oliphint was Managing Director and Co-Head of Upstream Americas with Jefferies LLC in the Energy Investment Banking Group. Mr. Oliphint brings nearly two decades of experience advising upstream energy companies on financial and strategic decisions, including multiple engagements with Colgate and Centennial, the predecessor companies of Permian Resources.

“We are pleased to welcome Guy as Permian Resources’ incoming CFO. Guy’s in-depth knowledge of the Company coupled with his strategic advisory and capital markets expertise will be a valuable asset to Permian Resources and our shareholders,” said James Walter, Co-CEO.

“Additionally, Will and I look forward to working closely with Steve to ensure we continue to execute on our operational track record and value-driven investment strategy to maximize value creation for Permian Resources’ shareholders,” Walker said.

“On behalf of the Board and the entire organization, I want to thank Sean and George for their leadership and dedicated service,” said Will Hickey, Co-CEO. “Their impact to legacy Centennial following the global pandemic and contribution to Permian Resources during the merger integration cannot be understated.”