Dane Karras, senior vice president of operations and corporate development at Noble Royalties Inc., is today’s featured Forty Under 40 honoree.
Today, Karras plays “an integral part of building and managing the joint venture between two industry stalwarts,” Noble Royalties and Apollo Global Management Inc. However, he said his first big win or “the one that truly moves the needle for your company that you always remember” came about eight years into his career while he was working in the business development group for Pioneer Natural Resources Co. when Devon Energy Corp. was divesting their Midland Basin assets.
“My boss and mentor had just left the company, which left me as the only engineer in the group and the technical lead on the project,” he said. “The biggest deal of my career had just landed in my lap, and my safety net was gone. Employing the evaluation put together by my team, Pioneer closed on the assets for $435 million and immediately moved rigs onto the acreage.”
Currently, Karras focuses on deploying the remaining capital for the Noble-Apollo joint venture and exiting at an attractive metric for its investors.
Looking ahead, he is prepared for “a consolidation of the minerals and royalties space into several sizable multibillion-dollar aggregators.”
“My goal is to make sure that Noble Royalties is one of those behemoths,” he said.
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