Panhandle Oil and Gas Inc. announced that Mr. Blanchard has stepped down as a member of the Board, and as President and Chief Executive Officer of the Company effective August 26, 2019. The Panhandle Board of Directors has appointed Chad L. Stephens, Panhandle's Lead Independent Director, to serve as Interim Chief Executive Officer. Mr. Stephens has been a member of the Board since 2017 and serves on the Audit Committee and the Compensation Committee.

He will remain a Director, and the role of Lead Independent Director will be assumed by Mark T. Behrman, a member of the Board since 2017.