Falcon Minerals Corp. appointed Bryan C. Gunderson as president and CEO, succeeding the company’s founder, Daniel C. Herz, who is stepping down to pursue a “new chapter.”
Herz has served as Falcon Minerals’ CEO since its formation in 2018 through the acquisition by its predecessor of Blackstone Energy Partners’ entire portfolio of minerals assets in South Texas. The $800 million cash-and-stock transaction created what Falcon claimed was the first public minerals company with Eagle Ford assets.
In a statement commenting on his decision to leave, Herz said: “Having successfully navigated through the last year and a half, and with Falcon positioned for continued growth and success, now is the right time for me to move on to pursue a new chapter.”
Prior to his appointment as president and CEO, Gunderson was named as Falcon’s CFO in June 2019. He previously served on the executive team at private Williston Basin producer Nine Point Energy LLC.
Gunderson’s appointment and Herz’s departure are both effective immediately, the June 28 release said. Additionally, Gunderson was appointed to the Falcon board of directors to fill the vacancy created by Herz’s resignation.
Falcon’s board also hired Matthew B. Ockwood to serve as CFO, according to the June 28 release. He joins Falcon with experience as an oil and gas investor, most recently serving as a managing director and member of the investment committee for Houston-based Chambers Energy Capital.
Falcon Minerals currently owns mineral, royalty and overriding royalty interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt and Gonzales counties in Texas. The company also owns roughly 80,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio and West Virginia.
In a statement, Gunderson commented: “I am grateful to the board for the opportunity to further serve Falcon and our shareholders. We have the assets, balance sheet, and team to succeed and we are poised to thrive with the improving market backdrop.”
“I am looking forward to working with Matt in his new role,” he continued, “and I want to thank Daniel personally for his mentorship and guidance during my tenure as Chief Financial Officer.”
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