Domo signs strategic collaboration agreement with AWS for AI solutions
TXO Partners, L.P., a crude petroleum and natural gas company with a market capitalization of $789 million and annual revenue of $283 million, has announced the appointment of Lawrence S. Massaro to its Board of Directors, as per an 8-K filing with the SEC. Massaro, with over 40 years of experience in the energy sector, will join the board of the Fort Worth, Texas-based company effective today.
Massaro’s notable career includes leadership positions such as CEO of Silverado Oil & Gas and EVP and CFO at Newfield Exploration Company (NYSE:NFX). He also served in J.P. Morgan’s investment banking group. Currently, Massaro is on the board of Advantage Energy Ltd. He holds an engineering degree from Texas A&M and an MBA from Southern Methodist University. As an independent director, he will participate in the company’s non-employee director compensation program, receiving an award of 3,900 phantom units vesting in April 2026.
In the same filing, TXO Partners reported the compensation committee’s award to newly named Co-CEOs Brent W. Clum and Gary D. Simpson. Both executives were granted 200,000 phantom units collectively under the 2023 Long-Term Incentive Plan, with half vesting immediately and the remainder in April 2026, along with distribution equivalent rights.
The company’s decision to enhance its leadership team and reward key executives comes as part of its strategic efforts to strengthen governance and business operations. The information in this article is based on a press release statement from TXO Partners.
In other recent news, TXO Partners announced a significant change in its executive leadership. Bob R. Simpson will retire as Chief Executive Officer of the company’s general partner effective April 1, 2025, while continuing his role as Chairman of the Board of Directors. The company has appointed Gary D. Simpson and Brent W. Clum as Co-Chief Executive Officers. Gary D. Simpson, currently President of Production and Development, will also join the Board of Directors. Brent W. Clum will maintain his roles as President of Business Operations, Chief Financial Officer, and Director of the General Partner, alongside his new position. Bob R. Simpson expressed confidence in the new leadership, highlighting their experience and vision for the company’s future. Both Gary D. Simpson and Brent W. Clum acknowledged the impact of Bob R. Simpson’s leadership and expressed their commitment to the company’s mission. They emphasized their readiness to lead TXO Partners forward, ensuring continued success for investors and employees.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.