Michael Woodward, vice president of business development of Meritage Midstream II LLC, is today’s featured Forty Under 40 honoree.
Woodward, who joined Meritage in 2013 through the acquisition of Thunder Creek Gas Services, has led his team in directing significant investment dollars into the Powder River Basin. Since 2013, the company has grown its rich gas gathering and processing market share from 1% to over 50% and is now the largest midstream company in the basin.
Previously, he held positions with Thunder Creek, Bill Barrett Corp. and Petro-Canada.
If there’s one thing that drives Woodward’s passion for the oil and gas industry, it’s the people. Early in his career, Woodward switched from accounting to business development because he wanted the ability to meet new people and gain insights from the network.
“People are what make our industry special, and I get the opportunity to connect with people in a wide range of disciplines. These interactions have definitely helped me be more successful,” he said.
In the aftermath of 2020’s large-scale mergers and corporate transactions, the deal pantry will likely find itself overflowing with asset buyers hungry for suitable acreage.
The move by Baker Hughes comes as oil and gas companies keep their focus on shareholder returns over spending to expand production, even as crude prices climb to their highest levels since 2018.
The acquired project, located south of Dallas, adds solar generation capacity to Buckeye’s existing renewable energy portfolio and positions the company to “meaningfully participate in the energy transition,” Buckeye Partners says.