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.
Occidental Petroleum said adjusted loss attributable to common stockholders was $136 million, or 15 cents per share, for the March quarter, compared with a loss of $610 million, or 65 cents per share, in the fourth quarter.
BP, which plans to sharply cut its oil output and boost its renewable energy capacity over the next decade, said in a report that despite “uneven progress,” the API was “heading in the right direction.”
The combined company, to be named Civitas Resources, will be the largest pure-play energy producer in Colorado’s Denver-Julesburg Basin, with an aggregate enterprise value of approximately $2.6 billion.