Midland, TX-based Legacy Reserves LP (NASDAQ:LGCY) has appointed Paul T. Horne, president, CEO, and director, as the chairman of the board. Additionally, Kyle D. Vann, director, has been named as lead independent director of the board. Cary D. Brown, the former chairman of the board, continues to serve as a director.
Horne is a founding member of Legacy's executive management team and was added to the board in December 2014. He has managed operations at Legacy and certain of its predecessor companies since 2000 until being named the president and CEO on March 1, 2015. Previously, he worked for Mobil E&P US Inc.
Vann was appointed to the board on March 15, 2006 where he serves as the chairman of the board’s compensation committee and as a member of the board’s nominating, governance and conflicts committee.
Brown has served as a member of the board, and had served as the chairman of the board, since Legacy’s formation. Brown had also previously served as CEO from Legacy’s formation until March 1, 2015.
Legacy Reserves LP is a master limited partnership focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States.