Hunter Wallace, COO of Atlas Sand Co. LLC, is today’s featured Forty Under 40 honoree.
When most people at Brigham relaxed after the successful $2.55 billion asset sale to Diamondback Energy Inc., Wallace did not idle. He helped “found, raise capital for and start up a company from scratch in Atlas Sand.”
He has led the Atlas team in the design, construction and capitalization of two Permian frack sand plants, each capable of producing 4 million tons per year. Atlas has broken records by being one of very few companies to start up within the published timeline and by having some of the fastest ramp-up times from startup to full capacity for both plants.
Wallace traces his tenacity back to his father, who also made a dramatic career move—from ranching to petroleum engineering.
“Growing up working with and being raised by a hard-working West Texas rancher who thinks like an engineer … [it] has given me the ability to dive in and understand most any mechanical or physical process I have ever come across in my career,” he said.
Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.
Cenovus Energy's quarterly loss widened, but the oil sands producer said the impact of output cuts will be more than offset by an improvement in Canadian crude prices this year.
Production from Occidental Petroleum's Permian Basin unit rose 57% to 250,000 boe/d in the fourth quarter, boosted by its investments in the basin.