Evan Turner, managing partner of Drillcore Energy Partners LLC, is today’s Forty Under 40 featured honoree.
Evan leads Drillcore, a New York-based private-equity firm he founded to focus exclusively on investments in the oil and gas sector.
According to Evan, his versatile career has been instrumental to his success.
Before founding Drillcore, Evan was a sector head and a director at StormHarbour Partners LP, a New York-based alternative asset manager and merchant bank.
Evan also previously served as a vice president at CohnReznick Capital where he co-launched its oil and gas group. Additionally, he worked as an associate at Canaccord Genuity, at GlobalData as a senior analyst and for an oilfield services company now part of Patterson-UTI.
“My career growth as a whole—from geologist to equity research, investment banking and then private equity, all focused on energy and infrastructure investments—has provided me access to a comprehensive understanding of how capital markets play an important role in the oil and gas industry,” he said.
In a two-hitter, Mid-Con Energy agreed to sell substantially all of its Texas properties while also picking up producing Oklahoma properties.
The move underscores how Saudi Arabia is likely to remain dependent on its oil and gas prowess for raising revenues as it struggles to diversify into new sectors.
Sustained lower oil prices may lead to Permian consolidation, the return of tough times to other shale plays and U.S. E&Ps helping rebalance global inventories.