Ryan D. Fitzpatrick, vice president of land at Pursuit Oil & Gas LLC, is today’s featured Forty Under 40 honoree.
Formerly with Stonegate Production Co. LLC, Fitzpatrick is one of the handful of people who helped build a stronghold for Pursuit Oil & Gas within the Eagle Ford Shale’s dry-gas window in Webb and La Salle counties, Texas.
“Many peers in the industry probably had thought we lost our minds—while everyone else was looking to hit it big in building oil-weighted businesses, we were focused on natural gas,” he said.
“It was quite early on,” he continued, “but we understood the foundation that gas had as a fuel necessary to power the world—and as more and more people were looking to create cleaner businesses, gas would fill that gap. With LNG now a reality, it would open this cleaner burning fuel to the world.”
With this targeted approach and a strong focus on subsurface, Pursuit hit the ground running in late 2016.
“Over the course of a year I was responsible for the leasing efforts of 25k acres, which became the core of our business,” Fitzpatrick said. “Today we are producing right at 90 million cubic feet of gas, and we’ll drill eight more wells in 2021.”
Fitzpatrick has broad experience in both development and exploration activities across the Lower 48 and also served as team lead for Oxy USA Inc.’s Midcontinent business unit earlier in his career.
2022-06-27 - On June 27, Sitio Royalty said it completed the acquisition of Permian Basin acreage from Foundation Minerals for approximately $323 million and entered an agreement to acquire additional Permian acreage from Momentum Minerals for $224 million.
2022-04-19 - The Haynesville has become a key part of PHX Minerals’ strategy as President and CEO Chad Stephens describes as the “front door of U.S. LNG export terminals” that will prove to be a vital source in alleviating the energy crisis in Europe.
2022-05-05 - The RPR royalty acquisition process includes an in depth reservoir analysis by a third party geological engineering firm with expertise across all the U.S. Basins.
2022-04-26 - The recent acquisition is in addition to PHX Minerals’ $5.1 million acquisition in the Haynesville announced on April 19, and will also be funded with a combination of cash on hand and borrowings under its existing credit facility.
2022-05-03 - Ranger Oil said it signed separate agreements to acquire three “bolt-on” oil producing properties in the Eagle Ford Shale contiguous to Ranger’s existing assets.