Brian Hansen, principal of Vortus Investments, is today’s Forty Under 40 featured honoree.
Vortus Investments is a private-equity firm focused on lower- to middle-market deals across the U.S. The firm, based in Fort Worth, Texas, earmarks $50 million to $75 million per deal, Brian said, and sets itself apart from competitors by having an “asset in hand” rule.
Brian counts Scott Sheffield, former CEO of Pioneer Natural Resources Co. (NYSE: PXD)—where he worked for 14 years before joining Vortus in 2014—as a role model.
“[Sheffield] has been a big influence on my career. … He always advised against using leverage to drive returns and followed that advice through the renaissance of the Permian, focusing on the reservoir’s economic return instead of its debt capacity,” Brian said.
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
A start-up in early 2016, Percussion Petroleum has found success with horizontal pay from New Mexico’s Yeso in the Permian Basin.
The country was among several that are showcasing acreage available for oil and gas exploration, development and production.