Sarita Schank, chief accounting officer at Momentum Minerals, is today’s featured Forty Under 40 honoree.
Momentum Minerals is a mineral and royalty acquisition company headquartered in Houston. Backed by funds affiliated with Apollo Global Management, Momentum acquires royalties, minerals, and overriding royalties across the country, including Texas, Oklahoma, North Dakota, New Mexico, Wyoming, Louisiana and Colorado.
Fueled by ambition, Schank was one of the team members to help found Momentum Minerals in 2017. She previously oversaw the oil and gas royalty revenue for Apollo, one of the largest alternative investment managers serving many of the world’s most prominent institutional investors.
“After Momentum spun off from Apollo Management,” Schank said, “I got this opportunity to showcase what I had learned and accomplished in my previous experiences.”
“I welcome opportunities where I may be uncomfortable and embrace change, but I also know when to ask others for help,” she said. “Collaboration with others is so important in solving problems, and it really helped me ascend to this position before I thought I could.”
Prior to Apollo, Schank also worked in the accounting department at Rosetta Resources, which was later acquired by Noble Energy.
A native of North Dakota, Schank graduated from the University of North Dakota with a BA in Accounting. She is also a member of The National Association of Royalty Owners.
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.