Panhandle Oil and Gas Inc. (NYSE: PHX) has appointed Chad L. Stephens III to the company's board of directors. Stephens is currently the senior vice president of corporate development at Range Resources in Ft. Worth, Texas. His appointment increases the board's size to eight members.
Stephens joined Range Resources in 1990 and is currently the company's longest tenured employee. While at Range, he has been responsible for the origination, valuation and acquisition or divestiture of over $4 billion of oil and gas producing properties. He currently serves on Range's internal hedging committee and is responsible for the oversight of all gas, oil and NGL marketing and sales. He received a Bachelor of Arts degree in Finance and Land Management from the University of Texas at Austin.
Stephens was appointed to replace Darryl Smette who is retiring. Smette will continue to serve on the board until Dec. 31, 2017.