History proves that times of crisis and turmoil inspire ingenious ideas, amazing inventions, and bold leaps of faith despite the odds that would otherwise subvert them. When the Bubonic plague struck England in 1665 forcing the closure of Cambridge University, mathematics professor Isaac Newton returned home where his brain went into overdrive upon witnessing an apple fall from a tree. A heady example to be sure, but we’re living in a brave new world now where a number of upstream and midstream businesses are biting the bullet and taking those leaps even as the industry reconstructs itself.
Wheat Energy Partners
Three guys and a big opportunity have determined now’s the perfect time to launch a terminal and logistics venture to serve big oil and gas and petrochemical customers. Houston-based Tivoli Midstream, a new portfolio company of private equity firm Energy Spectrum Capital, announced its formation July 15. Tivoli (named after a town east of Rome and not the Gulf Coast one; we got that confused, too) looks to acquire, build, redevelop and own strategically located storage facilities and marine terminals near key hubs. The industry veterans behind the business offer up significant experience overseeing marine terminals, production plant logistics, and handling more than 200 different chemical products, refined products, crude oil, renewable products, and dry-bulk commodities.
Jerry Jones and Comstock Resources
You already know him as the proud papa owner of the Dallas Cowboys, but Jerry Jones also views his Texas-based Comstock Resources as a second competitive playing field. Jones places his billion-dollar bucks on the Haynesville shale play where volumes of natural gas find an easy trajectory by pipelines to the Gulf Coast. Comstock a year ago acquired Dallas-based Covey Park, adding more than 700 MMCFD of production and 2.9 TCF of proved reserves to its already sizable East Texas assets. Amid production cuts, well shut-ins, and diminished filings of new drilling permits in Texas, Comstock is now saying, “Next!” by filing four drilling permits in a week.
Wheat Energy Partners
Travis Wheat makes his home in Amarillo as an entrepreneur and multi-company CEO who just happens to be a landman in love with oil and gas. Kickstarting in 2018 his Dallas-based Wheat Resources, Wheat is among the young-buck upstreamers at a moment when many E&Ps his size have said, “We’ll be back after this commercial break.”
As president and CEO of Wheat Resources and Trigo Oil and Gas, and president of Wheat Energy Partners, Wheat has announced it not only will drill its first well in the Permian’s Delaware sub-basin, but four. With a capital commitment from Stronghold Resources Partners, Wheat specializes in oil and gas production, lease acquisition, due diligence for mineral and surface ownership, and lease negotiations and mineral receivership.
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