Chief Among Them

Chief Among Them

In a 2019 article for D Magazine, Texas Wildcatter Trevor Rees-Jones self-described as “one of the hardest-headed people in the world,” crediting his stubborn streak for seeing him through the worst of oil and gas times. He launched Chief Oil & Gas in the late 90s, arriving early in the Barnett Shale which soon became the center of one of largest oil booms in U.S. history. Within eight years, Chief became the second-largest operator and fracker in the Barnett, and in 2006 Rees-Jones sold his assets there for $2.63 billion. Then, the mighty Marcellus called his name. Reese Energy Consulting today is following the latest news surrounding Chief Oil & Gas—one of the nation’s largest privately-owned gas producers—now said to be exploring a sale of its Marcellus position for more than $3 billion. Assets include 600,000 acres in northeastern Pa., and 1+ BCFD—more than 1% of all U.S. gas supply. Right timing seems to follow this former bankruptcy attorney who traded a court docket for a drilling rig, and we can’t wait to see where he lands next.

What do you think? Learn more about Reese Energy Consulting and our natural gas expertise and services at www.ReeseEnergyConsulting.com.

Chief Oil & Gas

Chief Oil & Gas is a company founded in Dallas, Texas in 1994 by Trevor Rees-Jones. Its primary holdings of natural gas were developed in the core areas of the Barnett Shale in Tarrant County, Denton County and Parker County.

www.chiefog.com

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A New Deal for Mach

A New Deal for Mach

A year after snapping up the Mid-Continent assets of now defunct Alta Mesa, Okla. City-based Mach Resources is back in the acquisition game with a shiny new prize. Reese Energy Consulting today is following the latest news from BCE-Mach III, which has signed a purchase and sale agreement with Denver-based Cimarex Energy for producing properties in Western and Southern Okla., and the Texas Panhandle. The deal also includes two gas gathering and processing systems in Southern Okla. Financial details weren’t immediately disclosed. Led by private equity firm Bayou City Energy and Mach CEO Tom Ward, BCE-Mach III in 2020 bid an initial $320 million for Alta Mesa’s producing and midstream assets in the Mid-Continent, ultimately paying a million less after crude oil prices nosedived. The company’s portfolio includes a sprawl of oil, natural gas, and water assets across 46 counties in Okla., Texas, and Kans. Ward was the cofounder of Chesapeake Energy along with the late Aubrey McClendon.

Mach Resources

Mach is an independent oil and natural gas producer focused on acquiring, exploring and developing high-return, low-cost products. Founded in January 2017, the company pursues assets with production history and development opportunity. Mach is located in Oklahoma City.

machresources.com

What do you think? Learn more about Reese Energy Consulting and our range of natural gas services at www.ReeseEnergyConsulting.com.

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