Jay Graham was appointed CEO of MRD in January 2016, replacing former CEO John Weinzierl who has since transitioned to focus entirely on Memorial Production Partners LP. Mr. Graham is a 23-year veteran of the oil & gas industry and co-founded WildHorse Resources, LLC in 2007, which acquired interests in the Terryville Field in 2010 and operated as a subsidiary of MRD prior to the company’s IPO in mid-2014. Under Mr. Graham’s leadership, WildHorse drilled the initial 55 horizontal wells in the prolific Terryville Field which serves as MRD’s foundational asset base. During 2016, MRD is focused on generating moderate production growth while spending roughly within cash flow as well as delineating its newly acquired acreage position. With significant “skin in the game” from a share ownership perspective, Mr. Graham’s goal is to protect the company’s strong financial strength and liquidity while preserving flexibility to quickly ramp drilling activity once natural gas supply/demand fundamentals improve.