Memorial Resource Announces $50 Mln Buyback - Quick Facts

(RTTNews) - Memorial Resource Development Corp. (MRD) said its Board of Directors has authorized the repurchase of up to $50 million of the company's common stock. The authorization is effective immediately.

Under the program's terms, shares may be repurchased from time to time at the firm's discretion on the open market, through block trades or otherwise.

John Weinzierl, CEO, said, "MRD is committed to delivering shareholder returns, and our management team and Board of Directors believe that at recent trading levels a share repurchase program represents a compelling value proposition that will deliver long-term value to our shareholders...If current market conditions persist, we will continue to evaluate our options of enhancing shareholder value, including potentially through additional disciplined share repurchases."