Ryan Stash has been appointed the new CFO at Evolution Petroleum. He replaces David Joe who has been at the company since 2005 and has been CFO since January 2016.
Evolution is an small E&P company with its head office in west Houston. It has an interest in the Delhi field in Northeast Louisiana, and an interest in the Hamilton Dome field in Wyoming. The company has a market capitalization of $72 million. It has no debt and $20 million of cash on hand.
Mr Stash joins from Harvest Oil & Gas where he had been CFO since October 2018. Prior to that, he spent eleven years in the Energy Investment Banking Group of Wells Fargo Securities. He will receive a base salary of $265,000.
According to the SEC filing, Mr Joe and the Board ‘agreed to the terms of his retirement as the Chief Financial Officer, effective December 31, 2020’. However, those terms were not disclosed in the filing. The annual proxy statement, filed last week, states that there are no employment agreements for executive officers.