Continental Resources names new executive

Energy industry veteran Tony C. Maranto will join Continental Resources Inc. as chief operating officer by May 1, the company said Wednesday.

Maranto, 57, has been executive vice president and chief operating officer at EnerVest Operating Co. since August 2016. He previously was vice president and general manager at EOG Resources, where he was based in Oklahoma City and responsible for the Houston company’s Mid-Continent business unit.

“We are excited to have Tony join Continental. He joins an already strong team in place,” Continental spokeswoman Kristin Thomas said in a statement Wednesday.

When Maranto joins the Oklahoma City company, Jack Stark’s title will be changed to president. Stark has been president and chief operating officer since September 2014 when he was promoted from senior vice president of exploration.

Stark’s previous position was filled by Glen Brown, who retired from the company last week.

As part of Brown’s resignation agreement, he agreed to non-solicitation and confidentiality obligations and the company agreed to accelerate the vesting of 12,000 shares of restricted common stock, Continental said in a regulatory filing.

Maranto will receive an annual base salary of $525,000 and will be eligible for the company’s bonus plan with a target of 100 percent of base earnings and equity grants with an annual target of $2.8 million under the company’s long-term incentive plan, the company said in a regulatory filing.