Gregory M. Robbins joined NGP portfolio company Memorial as treasurer in May 2011; was director, corporate
development before taking current job in January. He also manages A&D and land departments. MEMP (Nasdaq: MEMP) IPO’d with mainly natural gas assets; active hedging provided attractive economics. Today reserves are about 63% natural gas; acquisition of California assets at year-end 2012 brought 100% oil. He began his career in banking with Comerica Bank and Wells Fargo Energy Capital; was vice president at Guggenheim Partners.
Accomplishments: Played leading role in formation of upstream MLP Memorial Production Partners LP, which Memorial took public in 2011, and in subsequent acquisitions. Since 2012, led MEMP’s acquisition and integration of six deals totaling approximately $650 million, more than doubling proved reserves. Holds finance degree from Southwest Texas State and MS in finance from Texas A&M. Volunteer, coach and event director for Special
Olympics–Texas for 15 years.
On first-year challenges: “We were formed in 2011 and six months later went public. We had seven people when we IPO’d, outsourcing everything and working out of NGP’s office in Houston.” Today, MEMP has nearly 200 employees and an interest in 1,600-plus wells.
Goals: Manage competition. “The challenge for MLPs is competition…all have a low cost of capital and will largely look to grow via acquisitions. The key for MEMP is finding deals where we can use our structure and sponsor, Memorial and NGP, to find, acquire and integrate accretive acquisitions.” Long term, sees plenty of running room in
MLP model and thinks MLPs will ultimately dominate oil and gas A&D market.
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