Scott Van Sickle, CEO of Revolution Resources, is today’s featured Forty Under 40 honoree.
Backed by Mountain Capital Partners LP, Revolution Resources is an E&P company aiming to take a revolutionary approach to efficient and effective production management. Van Sickle formed the company in 2018 when it made its first acquisition of Midcontinent assets from Gastar Exploration.
Revolution followed up with the $201.5 million acquisition of Jones Energy in early 2020, which Van Sickle described as by far his most memorable undertaking.
“At the time this occurred, Revolution only had eight total office employees,” he noted.
However, Van Sickle considers starting Revolution, in general, as his greatest career milestone.
“What helped me reach this sooner than expected ultimately boils down to taking risks,” he said. “I personally took on material risk by doing what I did. Revolution’s equity sponsor also shared in this risk as well by supporting me—which happens with any PE investment involving a new management team.”
U.S. oil rigs fell by one to 491 this week, while gas rigs rose four to 113, their highest since January 2020, according to the closely followed Baker Hughes report.
"This award reiterates GATE's position as the global leader in the energy transition,” Karthik Annadorai, executive vice president of GATE Energy, said.
The investment bank said key oil products markets are showing "steep backwardation and inventories that have fallen to low levels."