Stephanie Reed, vice president of land and marketing at Parsley Energy Inc., is today’s featured Forty Under 40 honoree.
Reed oversaw the execution of more than two dozen trades across the core of the Midland Basin, following the integration of a $2.8 billion acquisition in 2017 over an 18-month period. The efforts added more than 5 million net lateral feet to the company’s horizontal inventory at zero capital outlay.
In early 2018, Reed was trusted with the responsibility of handling marketing efforts for the Austin, Texas-based company, an aspect of the business with which she had limited prior experience. This transition coincided with a unique time in the Permian Basin due to limited downstream takeaway for crude, residue and NGL.
“It was an intense few months with a steep learning curve, but with the help of our incredible team and Jody Jordan, we were able to identify our risks and work to find solutions to guarantee flow assurance at a competitive price,” she said.
Under her leadership, Reed has seen the company grow from less than a dozen to 500 employees. “As we’ve grown … I have recognized the need to encourage and empower additional leaders along the way to effectively engage and empower employees at all levels,” she said.
Laredo Petroleum remains “focused on executing similar, reasonably-priced bolt-on acquisitions around our core position in Howard County,” CEO Jason Pigott says.
Cracks have begun to show in the traditional performance metrics for executive compensation in the oil and gas industry, and there’s a growing push to reconsider them in the new environment.
Martin Midstream’s founder, Ruben Martin, will retire as president and CEO on Dec. 31, but remain as board chairman and will continue to be actively involved in its business development.