Joining Phillips: Was doing institutional and private-wealth management at Barclays. “I knew the Phillips family from calling on them in Shreveport. Chris [Phillips, the founder] made me an offer in 2012 to work for him as CFO.” Formed in 2007, Phillips holds interest in more than 1.5 million acres in 24 states and all the major resource plays.
On putting the team first: “I want to always make sure the team gets credit before any individual. At Phillips, we want to make sure everyone is accountable and that each employee is working with the team in mind.”
Available mineral acres remaining in U.S.: “A ton. With all the resource plays, I look at the mineral space as an early stage industry. I don’t think the market has really been established. I don’t believe mineral owners in various areas know there is a liquid market to trade their minerals. Once the market is established, I believe you will see a large number of transactions, and frequently.”
Memorable deal: A transaction in La Salle County, Texas. “One of our competitors was on the other side, trying to buy minerals from a family we were offering to as well. The competitor was willing to pay more, but the family accepted our offer because they felt we were respectful, ethical and followed through with what we promised.”
On the industry in 2045: “The U.S. will be energy independent. You will also see more alternative fuels in the mainstream marketplace.”