John Weinzerl, CEO of Memorial Resource Development, bought 110,000 shares of Memorial Resource Development (Stock Symbol: MRD) at $19 per share for a total amount of $2.090 million on June 13, 2014.
Memorial Resource Development is based in Houston, Texas.
On June 23, 2014, Memorial Resource Development announced that, subject to market conditions, it intends to offer $300 million in aggregate principal amount of senior unsecured notes due 2022 in a private placement to eligible purchasers. The Company intends to use the net proceeds from the proposed offering to repay a portion of the borrowings outstanding under its revolving credit facility.
According to Capital IQ, Memorial Resource Development has a market cap of $4.83 billion, an enterprise value of $6.37 billion, and trailing 12 month revenues of $643.67 million.
Memorial Resource Development Corp. operates as an independent natural gas and oil company in North America. It focuses on the acquisition, exploitation, and development of natural gas, NGL, and oil properties primarily in the Cotton Valley formation in North Louisiana and East Texas, as well as the Rocky Mountains. The company owns and operates a total acreage of 205,818 net acres. As of December 31, 2013, it had 1,126 billion cubic feet of natural gas equivalent (Bcfe), 800 Bcfe, and 1,034 Bcfe of estimated proved, probable, and possible reserves. Memorial Resource Development Corp. operates as a subsidiary of Memorial Resource Development LLC.
John Weinzerl’s most recent annual compensation from Memorial Resource Development is a salary of $3,320,000. Mr. Weinzerl is 46 years old.
According to his biography, Mr. John A. Weinzierl is Chief Executive Officer, Director of Memorial Resource Development Corp. Mr. Weinzierl has served as our Chief Executive Officer since our formation, and the Chief Executive Officer of MRD LLC and the Chief Executive Officer and Chairman of MEMP GP since January 2014. Previously, Mr. Weinzierl served as President and Chief Executive Officer of MRD LLC and President, Chief Executive Officer and Chairman of MEMP GP since April 2011. Prior to the completion of the Partnership’s initial public offering in December 2011, Mr. Weinzierl was a managing director and operating partner of NGP from December 2010. From July 1999 to December 2010, Mr. Weinzierl worked in various positions at NGP, where he became a managing director in December 2004. Mr. Weinzierl was appointed a venture partner of NGP from February 2012 to February 2013. From October 2006 until November 2011, Mr. Weinzierl was a director of Eagle Rock Energy G&P, LLC, the indirect general partner of Eagle Rock Energy Partners, L.P., a (i) natural gas gathering, processing and transportation company and (ii) developer of oil and natural gas properties, where he also served on the compensation committee. Mr. Weinzierl is a registered professional engineer in Texas.
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