Legacy Reserves Inc. will rebrand as Revenir Energy Inc. after the company’s transition to a private company led by a new executive team, the company said March 2.
The decision to rebrand brings internal and external stakeholders together under a new banner, reflecting the strategic evolution of the company and its renewed focus as a top-tier operator in two of the premier U.S. basins. The company operates and develops oil and gas assets in the Permian Basin of West Texas and Shelby County region of East Texas.
The Denver-based company is led by its senior executive team, including CEO Richard Betz, President and CFO Michael Stefanoudakis, Senior Technical Officer Michael Rumon and Douglas Dietrich, senior vice president of operations.
Revenir’s leadership team are all former senior leaders of Resolute Energy Corp., an NYSE-listed Permian Basin operator sold to Cimarex Energy (now Coterra Energy) in 2019 in a $1.6 billion deal.
Revenir said it combines a strong production base, a deep inventory of unconventional horizontal development opportunities, and significant capital resources to position itself as one of the preeminent small-cap companies in the industry.
“Our rebranding under Revenir is a significant milestone in our company's journey," Betz said. "We believe that our new name reflects our continued commitment to industry-leading operations and development in the Permian Basin and East Texas. We are confident that our new brand will help us to continue delivering value to our stakeholders and support our long-term growth."
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