LEXINGTON, Ky., April 6, 2010 (GLOBE NEWSWIRE) -- NGAS Resources, Inc. (Nasdaq:NGAS), an independent exploration and production company focused on unconventional natural gas plays in the southern Appalachian Basin, today announced that it has changed the name of its wholly owned operating subsidiary from Daugherty Petroleum, Inc. to NGAS Production Co. The name change completes a process started several years ago to unify the company's operations with its NGAS brand, which has become well-known in the investment community based on its trading symbol.
Commenting on the name change, William S. Daugherty, President and CEO, said, "The purpose of the name change is to project a clearer image of who we are by maintaining a unified corporate identity for our partners, customers and investors." Mr. Daugherty added, "While we are excited about the name change, we are also mindful of our heritage. For over a quarter of a century, Daugherty Petroleum has earned an enviable reputation for developing gas reserves in Appalachia. The organization and the people behind this track record will now be more closely aligned with our company's brand. Although the subsidiary's name has changed, our partners and customers can be assured that NGAS Production Co. will continue to deliver at the high level to which they are accustomed."
About NGAS Resources
NGAS Resources is an independent exploration and production company focused on unconventional natural gas plays in the eastern United States, principally in the southern Appalachian Basin. Core assets include over 400,000 acres with interests in approximately 1,400 wells and an extensive inventory for future horizontal drilling. NGAS operates the gas gathering facilities for its core Appalachian properties, providing deliverability directly from the wellhead to the interstate pipeline. Additional information, including the company's annual report on Form 10-K for 2009, can be accessed on its website at www.ngas.com.