Lone Star Leaders in the Oil and Gas Industry

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The Texas Independent Producers
& Royalty Owners Association
(TIPRO), in partnership with
the publishers of Texas Monthly,
and with the support of the
American Association of
Petroleum Geologists (AAPG)
and the American Association
of Professional Landmen
(AAPL), is honored to again
identify exemplary individuals
of the Texas oil and gas
industry through the annual
Texas Top Producers awards
program. Divided into four
categories of Best CEOs, Best
Engineers, Best Geoscientists,
and Best Landmen, the
Texas Top Producers award
highlights the accomplishments
and careers of the best in
the oil and gas industry.
1 26
in the Oil and Gas Industry
S THE LEADING STATE for production of oil and natural gas,
Texas is home to the best in the energy business. In an
effort to honor the most outstanding members of the Texas
oil and gas industry and bring mainstream recognition
to an industry that is a part of Texas’s heritage and a preeminent
contributor to our state’s economy, the publishers of Texas Monthly and
the Texas Independent Producers & Royalty Owners Association (TIPRO)
have formed a partnership to identify exceptional professionals in the
industry. In the third year of this oil and gas awards program, top
individuals were selected by their peers and recognized as “Texas Top
Producers,” a distinct title representing their outstanding contributions to
this uniquely Texas industry.
PROGRAM METHODOLOGY
Earlier this year, nominations for the award were collected through the TIPRO website.
The nominations were later reviewed by the TIPRO-Texas Top Producers awards
committee, comprised of past award winners and distinguished TIPRO members.
The committee then selected the top 15 finalists and ultimately the winners in each
category. Award recipients were recognized at the 2014 Texas Top Producers awards
banquet, which was held on October 28, 2014, at the Houston Petroleum Club.
SHUTTERSTOCK
Lone Star Leaders
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Extraordinary depth in
mineral title
THE PROOF
IS IN THE
NUMBERS
7,000 mineral title opinions in multiple shale plays in 2013
200 energy attorneys cross-trained to understand
title in 22 states
One of the largest due diligence teams nationwide
More than 100 years of experience in energy law
20 attorney Division Order Title Opinion Team
Leader in unitization permits filed in the Utica Shale
Top-ranked in energy law by Chambers USA, The Best
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Sharon O. Flanery
pl lc
Chair, Energy and Natural
Resources Department
www.steptoe-johnson.com
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Best CEOs
Finalists have proved to be instrumental to the growth and success of
their company, and have helped generate positive results for stockholders, investors, and partners over the
last ten years. They have improved
operational efficiency and corporate
profitability, and hold a solid record
of sound leadership. They also have
significant experience in managing
company operations within Texas.
The Best CEOs have been divided
into three separate categories,
based on their company’s total production of oil and gas in Texas.†
Winners denoted with H
LARGE COMPANY
Produces 1,000 Barrels of Oil
Equivalent Per Day (20:1) or more
in Texas
H Dan Dinges
CABOT OIL & GAS CORPORATION
Steve Farris
APACHE CORPORATION
H Jonny Jones
JONES ENERGY, INC.
Robert Lawler
Frank Burke
BRIGADIER OIL & GAS, LLC
Orville Duane Gaither II
GAITHER PETROLEUM CORPORATION
H Kyle Hammond
FIREWHEEL ENERGY, LLC
H Michael Harvey
STONEGATE PRODUCTION
COMPANY, LLC
Justin Kuethe
HANNATHON PETROLEUM, LLC
Curtiss McClymond
PETROLEUM EXPLORATION
COMPANY, LTD.
H Michael Reddin
SQUARE MILE ENERGY, LLC
Gary Mabie
Briggs Donaldson
TRADITION RESOURCES II, LLC
H Barry Winstead
FORGE ENERGY, LLC
SMALL COMPANY
Produces between 80 and 299 Barrels
of Oil Equivalent Per Day (20:1) in
Texas
Terry Fuller
Robert Reeves
PHOENIX PETROCORP, INC.
H John Hoffman
ARIESONE, LP
Matt Telfer
Kathryn MacAskie
MEDIUM COMPANY
Produces between 300 and 999
Barrels of Oil Equivalent Per Day
(20:1) in Texas
Javaid Anwar
MIDLAND ENERGY, INC. & PETROPLEX
ENERGY, INC.
H Pat Bolin
EAGLE OIL & GAS CO.
RIVERBEND OIL & GAS, LLC
Stephen Roberts
JONES ENERGY, INC.
H John Whitehead
LAREDO PETROLEUM, INC.
PURVIS OPERATING CO., & REATTA
ENERGY, INC.
Troy Gieselman
TEXAS AMERICAN RESOURCES, LLC
H James Holcomb
COLT EXPLORATOIN CO., INC.
Curt Horne
PERCHERON, LLC
H Jim McGowen
MCGOWEN & FOWLER, PLLC & MCGR
OPERATING COMPANY, INC.
Best
Geoscientists
Finalists have an established reputation for their ability to map geologic
strata and formations for the purpose
of identifying deposits or accumulations of hydrocarbons in Texas. They
also have demonstrated advanced
skill in utilizing and developing technology that has led to the development of oil or gas reserves in Texas.
James Barton
BASA RESOURCES, INC.
Connie Noble
SQUARE MILE ENERGY, LLC
H Steve Brachman
WAPITI ENERGY, LLC
H David Nolen
OGR ENERGY CORPORATION &
ALLIANCE LAND SERVICES
John Branca
SWIFT ENERGY COMPANY
Bill Francis
Mark Jaehne
ENDURING RESOURCES, LLC
Scott Rice
H Roger Soape
AURORA RESOURCES CORPORATION
PIONEER NATURAL
RESOURCES COMPANY
Barth Whitham
DIAMONDBACK ENERGY, INC.
H Scott Hines
Reuven Hollo
EOG RESOURCES, INC.
Russell Pantermuehl
John Callanan
VENADO OIL & GAS, LLC
PARSLEY ENERGY, INC.
H William "Bill" Thomas
GOODRICH PETROLEUM
CORPORATION
H Scott Garrick
BLACK ELK ENERGY, LLC
BORDER TO BORDER
EXPLORATION, LLC
Tom Nemec
H William Porter
Bryan Sheffield
H Scott Sheffield
LEGACY RESERVES, LP
HUNT OIL COMPANY
LINN ENERGY, LLC
Louis Stipp
Kyle McGraw
Adam Rice
JONES ENERGY, INC.
MEMORIAL RESOURCE DEVELOPMENT
CORPORATION
ENERGEN CORPORATION
SABINE OIL & GAS, LLC
David Cape
William Scarff
XOG OPERATING, LLC
David Sambrooks
ESCONDIDO RESOURCES II, LLC
Ruth Davis
FAIRWAYS EXPLORATION &
PRODUCTION, LLC
CABOT OIL & GAS CORPORATION
EOG RESOURCES, INC.
John Arnold
CROWNQUEST OPERATING, LLC
Randall L. Capps
DEVON ENERGY CORPORATION
STRAND ENERGY, LLC
HANNATHON PETROLEUM, LLC
Dwayne Stewart
H Steven Lindeman
H Tai Pham
Wes Reeves
James McManus
H John Richels
Scott Airey
Craig Clark
MILAGRO EXPLORATION, LLC
ATHLON ENERGY, INC.
Finalists are well known for their
ability to negotiate contracts while
at the same time demonstrating
fairness, integrity, and honesty in
their dealings with others. They have
significant experience completing
large mineral acquisitions in Texas
and also are active in technical organizations and professional societies.
DAVIS PETROLEUM CORPORATION
CHESAPEAKE ENERGY CORPORATION
Gary Loveless
Best Landmen
LEEXUS OIL, LLC
ZARVONA ENERGY, LLC
Matt McCarroll
FIELDWOOD ENERGY, LLC
Paun Peters
WESTERN PRODUCTION COMPANY
Mark Schlachter
SCHLACHTER OPERATING CORPORATION
H Anthony Schnur
LUCAS ENERGY, INC.
H Tom Schoonover
MCCLURE OIL COMPANY, INC.
ROGER A. SOAPE, INC.
QUICKSILVER RESOURCES, INC.
SILVER OAK ENERGY, LLC
Jeffrey Tyner
TYNER LAND SOLUTIONS, LLC
Best Engineers
Finalists have distinguished themselves as leaders in the industry’s
traditional engineering segments,
such as reservoir, drilling, production, economic analysis, and
surveillance. They also have made
significant contributions in designing, supervising, and completing
major engineering projects in
Texas that have achieved prominent
technical results.
H Michael Bose
H Douglas Hazlett
ANADARKO PETROLEUM
CORPORATION
H Lloyd W. Helms Jr.
EOG RESOURCES, INC.
H Walt Hufford
TALISMAN ENERGY, INC.
Matthew Hyde
CONCHO RESOURCES, INC.
H Bill Keller
ENERVEST, LTD.
Michael Liebelt
MARATHON OIL CORPORATION
APACHE CORPORATION
David McClelland
Jay Callarman
ATHLON ENERGY, INC.
COMSTOCK RESOURCES, INC.
Ted Cottrell
Craig Pollard
CINCO RESOURCES, INC.
TEXAS ROYALTY CORPORATION
PIONEER NATURAL RESOURCES
COMPANY
Tom Spalding
John York
James Deaver
PIONEER NATURAL RESOURCES
COMPANY
REPUBLIC RESOURCES, LLC
Rusty Shepherd
MOMENTUM OIL & GAS, LLC
BLACK ELK ENERGY, LLC
H Greg Leyendecker
SM ENERGY COMPANY
Mike Wall
ANADARKO PETROLEUM
CORPORATION
† (SOURCE, PRODUCTION VALUE DATA: TEXAS RAILROAD COMMISSION)
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FINDING value in the Permian Basin
tynerland.com
Legacy Reserves is a publicly traded Master Limited Partnership based in Midland, TX.
Legacy specializes in buying mature, long-lived, predictable, high percentage PDP oil and gas assets.
Legacy is a seasoned buyer, having closed approximately 134 deals totaling approximately $2.2 Billion since 2006.
We give top value for good assets, are easy to work with and have the ability to close quickly.
Legacy Reserves LP (NASD: LGCY) - 303 West Wall, Suite 1800, Midland, TX 79702
Main: (432) 689-5200 - www.LegacyLP.com
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Texas Oil and Gas
4.4%
of Texas
jobs
were in the oil
BY THE NUMBERS
In 2013,
Jobs
Approximately
40%
and gas industry
of all U.S. oil
and gas jobs
are located
in Texas
Every one of Texas’
36 congressional districts,
150 House districts,
and 31 Senate districts
include counties where
people are employed in
the oil and gas industry
The Texas oil and gas industry employed
411,600 workers
in 2013, an increase of more than 23,000 from
the previous year, for a growth rate of nearly 6%
Reach
Income
The Rainy Day Fund — supported
Currently
there are
2.5
million
almost entirely by the Texas
oil and gas industry—helps
to fund public education,
water and road infrastructure
projects, and disaster recovery, as
well as other programs
of Texas counties have
production of oil and
natural gas
12,250
oil and gas
U.S. Economy
The state of Texas is the
top producer of oil and
natural gas in the nation
95%
Texas had
royalty owners
in Texas
establishments in 2013
Texas’ average rig count as of
August 15, 2014, was 899, about
49%
1 30
More than
OF ALL ACTIVE LAND RIGS
IN THE UNITED STATES
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Texas Oil Boom Helps
Fuel Public Education in
the Lone Star State
schools and
universities
BY MATT SMITH
T
HE OIL AND GAS INDUSTRY POWERS THE LONE STAR STATE’S
fiscal and economic resiliency. Over the past five years,
since the Texas shale boom took off, the state’s exploration
and production sector has created a surplus of high-pay-
ing jobs and generated tremendous revenue for government coffers. There’s no
question that the industry truly is fueling the economy, paying for much-needed
infrastructure, and even playing a vital role in funding public education in Texas.
“The oil and gas industry has been a very
made as a result of oil and natural gas
Texas,” said Chris Bryan, an agency spokesper-
production through the Permanent University
son for the Texas Comptroller of Public
Fund and appropriations to the Texas Education
Accounts. “Over the last 10 years alone, oil and
Agency, via the Economic Stabilization Fund.”
natural gas production taxes have accounted for
1 32
significant contributions to education funding
important source of funding for education in
The state of Texas funds public education
nearly $10 billion for the Foundation School
with a combination of local, state, and federal
Fund (FSF), and through it, for Texas’ schools
revenue. According to the Texas Comptroller’s
and students. This is in addition to the
Financial Allocation Study for Texas, in fiscal
BLANSCAPE / SHUTTERSTOCK
Each year,
the oil and
gas industry
pumps billions
of dollars
into Texas
texasmonthly.com
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Established in Houston, TX in 2007.
First mover in the Eagle Ford Shale oil window.
225+ wells drilled.
12,000+ barrels of oil equivalent produced per day.
100+ million barrels of oil equivalent in reserves.
And the people who make it all happen.
952 Echo Lane, Ste. 400
Houston, TX 77024
www.stone-gate.net
(713) 600-8000
The Stonegate team would like to
congratulate Mike Harvey for winning
the 2014 TIPRO Best CEO award!
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year 2012, Texas appropriated $20.5 billion of
the Foundation School Fund, and the remaining
state funds for K–12 public education, almost
75 percent go to the Rainy Day Fund,” said
all of which was sent to the Texas Education
Bryan. During the last legislative session, the
Agency (TEA) and then distributed to local
Texas Legislature appropriated $175 million
school districts. This appropriation was
from the fund to the TEA. “There are other
financed through several sources, among them
sources for the Rainy Day Fund, but the bulk of
the Foundation School Fund and the Permanent
it comes from oil and gas,” added Bryan.
Education Fund. What many Texans don’t
Texas Legislature on an as-needed basis since
for these two funds actually comes from taxes
the fund began receiving deposits in 1990. All
and royalties paid by the oil and gas industry.
types of state programs have benefited,
Texas allocates most state funding for public
ranging from public schools to children’s health
K–12 schools through the FSF. One-quarter of
insurance to economic development. The fund
oil and natural gas production taxes are added
could be tapped again in the future by
to the fund annually and dedicated to public
legislators to finance transportation infrastruc-
education. In 2013, nearly $748 million from
ture or other needs. The use of the Rainy Day
oil production taxes went into the FSF, an
Fund has largely relieved pressure from the
all-time high. Additionally, approximately $373
state to increase taxes or cut programs during
million in taxes collected from natural gas
hard times.
Oil and gas development also provides
production went into the fund.
Taxes collected from oil and natural gas
funding to the Texas Permanent School Fund
production also help support Texas’ Economic
(PSF). Established in 1854 by the Texas
Stabilization Fund, commonly known as the
Legislature as a perpetual funding source for
Rainy Day Fund. “Twenty-five percent of oil and
education, the PSF is an endowment consisting
natural gas production taxes are deposited into
of state-owned land and mineral rights, royalty
SHUTTERSTOCK
“Over the last 10
years alone, oil
and natural gas
production taxes
have accounted for
nearly $10 billion
of funding for
Texas’ schools
and students.”
The Rainy Day Fund has been spent by the
realize, however, is that the bulk of the revenue
Committed to
Discovering and
Producing Oil
and Gas in
East Texas.
41st Largest
Private Producer
in The U.S.
BBX
Operating,
LLC
Border to Border
Exploration, LLC
Headquartered in Austin, TX
Matthew J. Telfer
Chief Executive OfÀcer
www.bbxllc.com
1 34
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earnings, stocks, and
agencies. At the end of 2013, PSF assets
bonds. The state-
guaranteed $55.2 billion in school district
owned lands are
bonds, thus providing cost savings to 810
managed by the Texas
public school districts in Texas.
Oil and gas leases
on PSF lands
generate more
revenue than
any other source
of income for the
public education
endowment.
The oil and gas industry also pumps
(GLO), and all
extraordinary sums of money into Texas higher
revenues from the
education. In 1876, the Texas Constitution set
land are deposited
aside 1.9 million acres of land (today the total is
into the fund to help pay for public education.
2.1 million acres) in West Texas, mostly in the
Since its inception, the GLO has deposited
Permian Basin, to produce revenue to support
more than $11 billion into the PSF from oil and
the University of Texas and Texas A&M Univer-
gas production on PSF lands. Oil and gas
sity Systems. The land generated very little
leases on PSF lands also generate more
revenue until the 1920s, when the first well, the
revenue than any other source of income for
Santa Rita No. 1, was drilled and hit oil. Through
the public education endowment.
surface and mineral rights, university lands have
According to the TEA, the PSF distributed
more than $2 billion for education during the
been generating revenue ever since.
Currently, 1.6 million acres of the 2.1 million
2012–13 biennium. Since 1960, it has
acres of university lands are under oil and gas
distributed more than $23 billion to help fund
leases. Of the $16.9 billion market value of the
the education of Texas students. The PSF also
PUF endowment as of May 2014, $9.1 billion
provides a guarantee for bonds issued by local
represented oil and gas mineral income. “In
school districts. Because of the PSF guarantee,
recent years, thanks to advances in technology
districts are able to pay lower interest rates
such as horizontal drilling and new completion
when they issue debt since the debt carries the
techniques, our ability to extract oil and gas
AAA rating from the three major rating
from university lands has significantly
SHUTTERSTOCK
General Land Office
CONGRATULATIONS
2014 Texas Top Producer – CEO Finalist
James McManus
Independent producer of domestic oil, natural gas, & natural gas liquids
1 36
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Unmatched opportUnity
Unrivaled commUnity
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increased and revenues have increased
recently approved projects funded by the
accordingly. Specifically, gross production on
Permanent University Fund include the $25
university lands has more than doubled since
million School of Management Phase II project
2008, and the overall royalty has increased
at the University of Texas at Dallas and the
from 13.5 percent to just more than 18
continuation of fire and life-safety projects at
percent,” said Karen Adler, a spokesperson for
the University of Texas at San Antonio. The UT
the University of Texas System.
Board of Regents also has approved PUF/AUF
The Permanent
University Fund
recently approved
$20 million
to recruit and
retain faculty in
engineering
and computer
science.
funding to establish the UT System Neurosci-
university lands can’t be spent, but must flow
ence and Neurotechnology Institute ($20
directly into the Permanent University Fund
million over two years), provide mental health
(PUF), which functions as a permanent endow-
programs to help students in crisis at all UT
ment to support UT and A&M institutions. Each
institutions ($2.5 million), create a UT Energy
year a distribution from the PUF is made to the
Research Engineering and Education Institute
Available University Fund (AUF) to be disbursed
($2 million in start-up funding), and recruit and
to the two Texas university systems. The UT
retain engineering and computer science
System receives two-thirds of the distribution,
faculty ($20 million over two years).
“Because of the Permanent University Fund,
and the Texas A&M System receives one-third.
“Over the last five years, a total of $3.12
the UT System is unique in its ability to hold
billion has been distributed from the PUF to
the line on tuition while at the same time
the AUF. These distributions are first used to
making major investments in expanding
pay debt service due on PUF bonds issued to
student programs, recruiting top faculty, and
build facilities at UT and A&M institutions, with
building new facilities,” said Adler. “I’m not
the remainder used to support operations at
aware of any other state that has an endow-
certain institutions along with funding various
ment like the PUF. It’s a tremendous resource
system-wide services,” said Adler. Examples of
for public higher education in Texas.” n
SHUTTERSTOCK
Revenue generated from oil and gas activity on
The Colt Team would like to congratulate Jim Holcomb on his
nomination as one of Texas Top Landmen named by the Texas
Independent Producers and Royalty Owners Association for
2014.
Colt Exploration Co., Inc. is a Professional organization with over 35 years experience in the oil and gas industry, specializing in all facets of Prospect Development, Land and Acquisition Due Diligence, including courthouse work, lease acquisition,
title curative, surface damage settlement and ROW acquisition, contract preparation and negotiation, and producing
property Due Diligence.
Colt’s performance is based on our team’s vast experience, strong work ethic, and a drive to be the best in the industry. Our
commitment to our client base is unparalleled, making Colt uniquely qualified to provide project management with out-ofthe-box solutions that are successful even in the most challenging of undertakings.
To learn more about our efforts and expertise, please visit us at
www. coltexploration.com
512 Main Street, Ste 600, Fort Worth, Texas 76102
(817) 870-0026
1 38
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LEADING FROM THE FRONT
2014 Texas Top
Producer CEO
Award Winner
The associates, friends and
family of Pat Bolin and Eagle Oil
& Gas wish to congratulate him
on being chosen by his peers
as a winner in the 2014 Texas
Top Producer Best CEO award
program for the medium size
company category.
They also wish to express their
deep appreciation for the
unwavering dedication and
integrity he has displayed
toward his employees, his family,
his faith and his community.
2014 Texas Top Producers Award
As announced by The Texas Independent Producers
and Royalty Owners Association (TIPRO)
and the publishers of Texas Monthly.
e a g l e o g . c o m
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Texas Top Producers Awards Banquet
Left: 2014 Texas Top Producer Honorees in the Best
Landman Category. Above: Banquet Keynote Speaker
Allen Gilmer. Below: TIPRO Leaders David Martineau,
Raymond Welder, and Ed Longanecker
N THE EVENING of Tuesday, October 28, 2014, TIPRO hosted
the third annual Texas Top Producers awards banquet at the
Petroleum Club of Houston. This event served as a special
opportunity for members of the Texas oil and gas industry to
join one another in celebrating the top professionals in the business, including
the best CEOs, engineers, landmen, and geoscientists. During the banquet,
finalists and winners of the 2014 Texas Top Producer awards were recognized
for their outstanding accomplishments in recent years.
1 40
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