Directly involved in transactions totaling more than $1B during 10-year career; co-founded Vendera Resources at age 29. Instrumental in growing Vendera from transaction and fund-raising standpoint. In 2014 his persistence resulted in company's largest set of acquired properties to date. Is successfully leading current $128MM fund raise while helping to manage growth.
Entrée to energy: Added minor in geology last two years at SMU, and interned his senior year with Five States Energy Capital in Dallas. “It was fascinating, watching them put partnerships together and make acquisitions.
On co-founding Vendera with Kimberly Lacher: They worked at Five States together and after getting MBAs, got to talking about launching their own firm, raising money to buy nonop interests. “We launched in 2012 and just finished raising our third fund with about $128 million of commitments from institutional investors and family offices.”
Strategies for low oil prices: Existing portfolio is 85% natural gas and relatively well-hedged. “With our new fund, we think we’re set up well to acquire oil properties. We’re in a great spot to be focused on what we can pick up at great prices going forward.”
On a silent partner’s mentorship: “In fund-raising, he’s been very helpful in giving us salient feedback on the best way to relay your message to potential investors. He has 38 years in the business. He’s been there and done that.”
A memorable deal: When he was at Energy Spectrum Advisors Inc. in September of ’08, they kept pushing a client with Haynesville acreage to not drag his feet on selling it. “A buyer paid $33,000 an acre for it and, literally, a week later, the deal probably would have been dead. I always think about that deal. Timing is everything.”
Roots in Texas: Great-grandfather founded Brookshire Grocery Co. in Tyler, Texas, in 1928 and was there for the discovery of East Texas Field. “He had a store in Tyler Square with an apartment above it that he rented out. Lo and behold, he rented it out to H.L. Hunt when H.L. was getting going.”
Mottos: In life, “You make your own luck.” In business, “Don’t assume anything.”
Professional goal: In 15 years, to be fundraising Vendera VIII.