Strathcona Resources Ltd. Announces Retirement of President and CEO Rob Morgan and Appointment of New Leaders

About this update from Strathcona Resources Ltd.

Strathcona Resources Ltd. Announces Retirement of President and CEO Rob Morgan and Appointment of New Leaders /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire CALGARY, AB , Oct. 24, 2024 /CNW/ - Strathcona Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR) today announced the retirement of Rob Morgan as President and CEO, effective October 31, 2024 . "On behalf of the board of directors, I would like to sincerely thank Rob for his leadership at Strathcona ," commented Adam Waterous , Strathcona's Executive Chairman, adding, "Over the past seven years, Rob has overseen Strathcona's transformation from a junior oil company with approximately 17,000 barrels per day of production, 130 MMboe of proved plus probable reserves and fewer than 200 employees, into Canada's fifth largest oil producer, growing production approximately 11-fold, reserves 20-fold, and our employee base 4-fold. Rob has been a first-class partner to Waterous Energy Fund from the beginning, and we wish Rob all the best in his future." Rob Morgan added, "It has been an honour to help lead Strathcona through a period of unprecedented growth, and I would like to thank Strathcona's Board of Directors, shareholders and employees for their faith and support the past seven years. I am excited to hand the reigns to Strathcona's next generation of leaders, who I am confident will take the company to new heights." Going forward, Strathcona's leadership structure will transition from a single, functionally organized executive team working across Strathcona's entire asset base, to four focused business units – SCR Cold Lake, SCR Lloydminster Thermal, SCR Lloydminster Conventional, and SCR Montney – each with their own President and accompanying management team. Each President will have significant autonomy over all aspects of day-to-day operations and in turn will be directly accountable for their unit's performance. Higher-level capital allocation decisions, business development, finance, accounting and other limited corporate services will remain at Strathcona's corporate level. As part of this new structure, Strathcona is pleased to announce the...

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