Brent Kelsall, director of finance and planning at FourPoint Energy LLC, is today’s featured Forty Under 40 honoree.
As one of the initial employees at FourPoint Energy, Kelsall helped set the company’s financial course. He’s part of a team that capitalized FourPoint and LongPoint Minerals over the past five years, despite industry challenges.
He had joined FourPoint after working in the strategic planning and corporate development group for Newmont Mining, the world’s leading gold mining company.
Coming from the gold mining sector, Kelsall was no stranger to volatile commodity prices, but he still struggled when the energy downturn hit in 2015.
“Raising capital from investors in this environment was incredibly challenging,” Kelsall said. Nevertheless, FourPoint persevered, and the company closed a transaction in early 2016 to acquire Western Anadarko Basin assets from Chesapeake Energy Corp.
Mexican state oil company Pemex said on Dec. 6 it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude, calling it the largest such finding in more than 30 years.
The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position that is expected to produce 12,000 barrels of oil equivalent per day (boe/d) in 2020.
Saudi with OPEC peers and allies led by Russia backed a plan that could see cuts of as much as 2.1 million barrels per day (MMbbl/d), Saudi Energy Minister Prince Abdulaziz bin Salman said.