Management Team

Board of Directors:

E. Carey Joullian IV – Director, Chairman

Alice Sias Pippin – Director

Marion J. Story – Director

Officers:

E. Carey Joullian IV

Chairman of the Board, President and Chief Executive Officer

E. Carey Joullian IV is Chairman of the Board, President and Chief Executive Officer of Mustang Fuel Corporation and its subsidiaries. He is also a member of the Board of Directors. Mr. Joullian received a Bachelor of Arts degree in Business and History from Trinity University. He joined Mustang Fuel Corporation in 1985, having previously worked at The First National Bank, Oklahoma City, Oklahoma, as a lending associate for 3 years. Mr. Joullian serves as Chairman of Mustang Ventures Company, parent of Mustang Gas Products, LLC.

Rand Phipps

Senior Vice President, Secretary, General Counsel and Chief Operating Officer

Rand Phipps is Senior Vice President, Secretary, General Counsel and Chief Operating Officer for Mustang Fuel Corporation. Mr. Phipps serves as a Director and Secretary of Mustang Ventures Company. He received a Bachelor of Science degree in Business Administration with Distinction, from the University of Nebraska. He also received a Juris Doctor from the University of Nebraska. Mr. Phipps spent two years at Atlantic Richfield; 5 years at CNG Producing Company; and 8 years at the Samson Companies before coming to Mustang. He joined Mustang in 1996 and is responsible for all land and legal functions, exploration and production, corporate governance and risk management. Mr. Phipps’ professional memberships include Chairman of the Mineral Law Section of the Oklahoma Bar Association, Board member of U.S. Oil and Gas Association, and Chairman of the Oklahoma Oil and Gas Association.

M. Scott Chapline

Senior Vice President, Chief Financial Officer and Treasurer

M. Scott Chapline is Senior Vice President, Chief Financial Officer and Treasurer of Mustang Fuel Corporation and its subsidiaries. Mr. Chapline serves as a Director and Treasurer of Mustang Ventures Company. He received a Bachelor of Business Administration degree from the University of Oklahoma. He began his career in the U.S. Army. After discharge from the Army, Mr. Chapline joined Arthur Anderson and Co. where he was appointed audit manager in 1970. In 1976 he joined Kerr-McGee as assistant corporate controller. In 1984, he started work at Mustang Fuel Corporation as Vice President and Controller. Mr. Chapline’s responsibilities include directing all accounting functions, including gas accounting, purchasing operations, aviation operations and financial accounting operations. His professional memberships include the American Institute of Certified Accountants, the Oklahoma Society of Certified Public Accountants and the Oklahoma City Chapter of the Financial Executives Institute.

J. Paul Belflower

Vice President, Gas Marketing and Supply for Mustang Fuel Corporation and its subsidiary

J. Paul Belflower is Vice President, Gas Marketing & Supply for Mustang Fuel Corporation and its subsidiary, Mustang Fuel Marketing Company. Mr. Belflower received his Bachelor of Science degree in Journalism from Oklahoma State University in 1979. Before joining Mustang, Mr. Belflower was a Sr. Gas Marketing Representative for Grace Petroleum Corporation. Mr. Belflower is responsible for wellhead connections and all downstream commercial marketing operations, including managing the day-to-day operations of Mustang Fuel Marketing Company, which provides marketing services for third-party producers and owners of natural gas. He works closely with Mustang’s Risk Committee on all energy commodity risk analysis and execution of hedge transactions. Mr. Belflower is a member and former Board Director of the Natural Gas Associations of Oklahoma (NGEAO). He is a member of the Oklahoma Oil & Gas Association and the Oklahoma Independent Producers Association (OIPA).

Carrie Brower

Vice President and Controller of Mustang Fuel Corporation and its subsidiary

Carrie Brower is Vice President and Controller of Mustang Fuel Corporation and its subsidiary Mustang Ventures Company. Ms. Brower received a Bachelor of Science degree in Business Administration from Oklahoma State University. She joined Mustang Fuel Corporation in 1981 and is responsible for directing accounting functions, and establishing and maintaining accounting principles, practices and procedures for Mustang Fuel Corporation and Mustang Gas Products, LLC.

Bryan E. Hennigan

Vice-President of Exploration and Development

Bryan E. Hennigan, Vice-President of Exploration and Development, joined Mustang Fuel Corporation in May 2015. Bryan has over 30 years of experience in the oil and gas industry working a wide range of provinces within North America for various E&P companies including Phillips Petroleum, Oryx Energy, Samson Resources Company and the last 19 years with EOG Resources, Inc., where he served as the Oklahoma City Division Business Development and Land Manager. Mr. Hennigan earned his Bachelor of Business Administration from the University of Oklahoma and possesses a Juris Doctor from Oklahoma City University School of Law. Professional memberships include the Oklahoma Bar Association, Oklahoma Independent Producers Association, American Association of Professional Landmen, where he has served as Chairman for numerous AAPL committees. As a result of serving as Co-Chair of the Bill Majors Mentoring Program, Mr. Hennigan is currently a member of the University of Oklahoma’s Michael Price Business College Energy Management Advisory Board.

John Hogsett

Vice President of Gas Operations for Mustang Ventures Company and its subsidiary

John Hogsett is Vice President of Gas Operations for Mustang Ventures Company and its subsidiary Mustang Gas Products, LLC. Mr. Hogsett received a Bachelor of Science degree in Mechanical Engineering from Louisiana Tech University and a Master of Business Administration Degree from Queensland University of Technology in Australia. Mr. Hogsett is responsible for all engineering and project management, processing plants, and field gathering and compression activities. Mr. Hogsett has spent his entire career in the energy industry. He worked in various domestic and international locations for Chevron and most recently worked for SandRidge Energy before coming to Mustang Fuel Corporation in 2011. He is on the Board of Directors of the National Gas Processors Association.

Brad Jordan

Vice President and Chief Information Officer of Mustang Fuel Corporation and its subsidiaries.

Brad Jordan is Vice President and Chief Information Officer of Mustang Fuel Corporation and its subsidiaries. Mr. Jordan received a Bachelor of Science degree in Accounting and Computer Information Systems from Colorado State University, and a Master of Science degree in Information Systems from the University of Colorado in Denver. Mr. Jordan is responsible for directing all Information Technology functions for Mustang Fuel Corporation and its subsidiaries. Prior to joining Mustang, Mr. Jordan spent 19 years in the Oil & Gas industry holding various management and technical positions with Kerr-McGee Corporation, Westport Resources Inc., KN Energy Inc., and The Coastal Corporation, as well as consulting with Deloitte & Touche.

Stephanie A. Phipps, SPHR

Vice President of Human Resources for Mustang Fuel Corporation and its subsidiaries.

Stephanie Phipps is Vice President of Human Resources for Mustang Fuel Corporation and its subsidiaries. Ms. Phipps received a Bachelor of Science degree in Organizational Development from Missouri State University, and a Master of Arts degree in Human Resources from the University of Oklahoma. She also received a Masters of Business Administration from Oklahoma Christian University and holds a Senior Professional in Human Resource (SPHR) designation. Ms. Phipps is responsible for aligning all Human Resource activities with the strategic direction of the organization. Prior to joining Mustang, Ms. Phipps spent 15 years in various management positions in industries including, commercial real estate investment and wholesale distribution. She currently serves as Legislative Director and a Board member for the Oklahoma State Human Resource Council and is a member of the YWCA Human Resource Committee as well as a member of the Society of Human Resource Management (SHRM). She is Past Chairman of the National Gas Gathering and Processors Association.

Brian Tibbs

Vice President of Gas Supply for Mustang Ventures and its subsidiary Mustang Gas Products, LLC.

Brian Tibbs is Vice President of Gas Supply for Mustang Ventures and its subsidiary Mustang Gas Products, LLC. Mr. Tibbs received a Bachelor of Business Administration Degree from the University of Texas at Austin. Before joining Mustang, he was Manager of Gas Supply for Magic Circle Energy Corporation and Senior Gas Controller at Delhi Gas Pipeline Corporation. Mr. Tibbs is responsible for the connection of new and existing gas supply to Mustang’s processing plants and contract administration. Other responsibilities include marketing all natural gas liquid production from gas plants and all condensate produced for Mustang’s equity wellhead production and gas plants.