Tim Magliaro, vice president of business development at Lucid Energy Group, is today’s featured Forty Under 40 honoree.
Lucid Energy Group is the largest privately held natural gas processor in the Permian Basin supported by growth capital commitments from Riverstone Holdings LLC and The Goldman Sachs Group Inc.
After developing a significant midstream footprint in the Midland Basin, the Lucid team expanded westward in the Permian beginning with the acquisition of Agave Energy in 2016 adding natural gas gathering and processing assets in the Delaware Basin of southeastern New Mexico.
“When Lucid acquired Agave in 2016, there was approximately 100 MMcf/d of gas on the system. In less than five years, we have increased the system throughput to more than 1.25 Bcf/d and have become the largest private gas gathering and processing business in the Permian Basin,” said Magliaro, who focuses on origination, commercial development and land at Lucid.
Magliaro brings over 15 years of energy industry experience to Lucid, including various land roles in both the midstream and upstream sectors. Prior to joining Lucid in 2016, he was responsible for the commercial development of gas gathering, oil gathering and gas processing at Williams Cos. Inc. for the deepwater Gulf of Mexico, South Texas and Mexico.
“Looking back, [negotiating my first mineral lease] appears to be a fairly minor achievement,” said Magliaro, referencing an accomplishment early in his career, “but successfully completing the full process from running title to drafting and executing the lease with very little experience really fueled my excitement for the business side of the industry.”
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