IOG Resources Announces Senior Management Promotions and Promotes Tommy Woolley to Chief Executive Officer

IOG Resources, a Dallas-based energy investment platform, has recently announced three senior management promotions. The company's management subsidiary, IOG Resources Management (IRM), has promoted Tommy Woolley to the position of Chief Executive Officer. Additionally, George Edwards has been promoted to Executive Vice President, Business Development, and Jay Heath has been promoted to Executive Vice President and Chief Financial Officer.

These promotions come in recognition of the significant contributions made by Woolley, Edwards, and Heath to the IOG Resources leadership team. Woolley, who has over 20 years of industry experience, has served in various leadership roles at IRM and its predecessor entities since 2014. Prior to joining IRM, he held engineering positions at Netherland, Sewell & Associates, Inc. and BP.

Edwards brings 15 years of industry experience to his new role, with nine years spent at IRM and its predecessor entities. As the former Managing Director in charge of business development efforts, Edwards has played a crucial role in the company's growth. Heath, on the other hand, has 15 years of industry experience, including seven years at IRM. He joined the company in 2017 as Managing Director and was responsible for finance. Prior to IRM, he worked at Willow Bend Oil and Ernst & Young.

James Bennett, Chairman of the IOGR I and II Boards, expressed his excitement about the promotions, stating, "Tommy, George, and Jay have each played an integral role as part of the IOG Resources leadership team since inception, having accomplished a tremendous amount together that has positioned our business for long-term, continued success." He believes that their new roles will enable them to lead the company effectively as it executes its strategy of acquiring non-operated producing assets and providing development capital to the upstream industry.

IOG Resources' investment platforms have seen considerable success since their establishment in 2017. IOGR II, the latest platform, has completed three transactions since its first close in 2022. These include a gas-weighted acquisition in the Marcellus, a three-stream acquisition in the Utica and Marcellus, and an oil-weighted drilling partnership in the Permian Basin with a large operator. Overall, the IOG Resources platforms have made 15 discrete investments across six core basins in the US, deploying over $650 million in capital since 2017.

About IOG Resources

IOG Resources, LLC and IOG Resources II, LLC are energy investment platforms based in Dallas, Texas. Sponsored by First Reserve, these platforms focus on onshore producing non-operated oil & gas investments and structured drilling capital in North America. For more information, please visit www.iogresources.com.

About First Reserve

First Reserve is a private equity firm specializing in investments across diversified energy, infrastructure, and general industrial end-markets. With over 40 years of industry insight, the firm has raised more than $32 billion in capital since its inception in 1983. First Reserve's global network and experience from over 750 transactions enable them to make strategic investments in various sectors worldwide.