Laura Freeman, vice president, business development and engineering at Vencer Energy LLC, is today’s featured Forty Under 40 honoree.
This past April, Vencer Energy, a startup upstream company backed by energy trader Vitol, made its debut with the acquisition of Hunt Oil Co.’s Permian Basin position. The acquisition of the Hunt Permian assets, reportedly worth more than $1 billion, comprised 44,000 acres across five counties in the Midland Basin and current daily production of approximately 40,000 boe/d.
“I’m very proud of myself and the entire Vencer team for how fast we were able to spin up from nothing to a billion-dollar company in a very short time with the 2021 Hunt Permian acquisition,” Freeman said.
“We went from three employees and a handful of contractors, including myself at the time, to about 30 Houston personnel and 30 in Midland basically within 60 days,” she added.
For Freeman, she said doing what needed to be done to successfully bring on the asset was a major contribution, such as leading IT, software, systems integration, accounting and various other components of getting to where Vencer Energy could close and successfully take over operations.
“My extra horsepower and dedication to the goal helped greatly in getting the asset integrated very quickly by industry standards,” she said. “For me, that allows us to go back out and look at additional billion-dollar-plus acquisitions during a very interesting (and possibly short-lived) window that has opened up in the deal market.”
2022-06-28 - Equinor and British renewable power generator and network operator SSE agreed to buy U.K.-based Triton on June 28 from private equity firm Energy Capital Partners for 341 million pounds (US$418.65 million).
2022-05-04 - Oxy Low Carbon Ventures and Wolf Midstream also plan sequestration operations in this roundup of the latest carbon management projects.
2022-05-03 - To keep up with energy demand, OTC panelists agreed that innovators will need to find solutions at a faster pace to catch up to a mounting human population. “Innovation is the way that we adapt to survive,” added Intelie’s Augusto Borella Hougaz.
2022-05-06 - More than 24,000 people from 93 countries attended this year’s OTC, which is more than two times last year’s turnout.
2022-05-11 - The renewables arm of Oil States Industries is working to test a prototype of its new fixed TLP in the North Sea next year.