Falcon Minerals Corp. hired a new CFO on June 18, which Falcon’s CEO said marks the next phase of development for the South Texas-focused company.

The new CFO, Bryan C. Gunderson, is a former executive with private Williston Basin producer Nine Point Energy LLC. He also has previously worked at Triangle Petroleum Corp., General Electric Co. and Chevron Corp.

Gunderson’s appointment at Falcon resulted in the company’s current chief finance exec, Jeffrey F. Brotman, stepping down. Falcon said Brotman, who also serves as chief legal officer and secretary, will retain his other roles at the company.

Daniel C. Herz, president and CEO of Falcon, said Brotman’s contributions as CFO aided in the initial stages of the company’s creation last year.

Falcon Minerals Eagle Ford Shale Acreage Map (Source: Falcon Minerals Inc. June 2019 Investor Presentation)
(Source: Falcon Minerals Inc. June 2019 Investor Presentation)

Falcon formed in 2018 through the acquisition by the company’s predecessor, blank-check company Osprey Energy Acquisition Corp., of Blackstone Energy Partners’ entire portfolio of minerals assets in South Texas. The $800 million cash-and-stock transaction closed in August 2018, creating what Falcon claimed was the first public minerals company with Eagle Ford assets.

“Jeff’s work has positioned Falcon to grow meaningfully from a strong financial and operational foundation, and I look forward to continuing to work together,” Herz said in a statement on June 18.

Herz also welcomed Gunderson to Falcon, who he said has experience in forming energy companies.

Most recently, Gunderson served as executive vice president of finance of Nine Point Energy. Prior to that, he served as vice president of the office of CEO of Triangle Petroleum. He also previously served as an associate in the energy financial services division of General Electric and as a financial analyst in the global upstream division Chevron.

“We welcome Bryan to Falcon, as this marks the next phase of our development as a dynamic company,” Herz said. “Bryan’s expertise and experience in both finance and helping to build energy companies perfectly complement our great team at Falcon Minerals and will help us to continue our focus on expanding our enterprise.”

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Falcon’s primary asset position is anchored in the oil-rich portion of the Eagle Ford Shale in South Texas. The company also owns additional assets in the Marcellus Shale.

According to the company press release, Falcon currently owns mineral, royalty, and overriding royalty interests covering roughly 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk plays in Karnes, DeWitt and Gonzales counties, Texas. Operators of the company’s Eagle Ford assets include ConocoPhillips Co., BP Plc and EOG Resources Inc.

Falcon reported net production during the first quarter was roughly 5,782 barrels of oil equivalent per day. The company said in May that 10 rigs were currently operating on its Eagle Ford position, an increase from five rigs earlier in the year.

Emily Patsy can be reached at epatsy@hartenergy.com.

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