Late-life asset optimization is our specialty
We acquire late-life oil and gas assets that are underperforming and utilize new technology and experience to optimize production and reduce costs
Acquisition
We acquire conventional, producing assets with long life and proven cash flow
Development
We develop our assets to maximize value, spending capital within cash flow and growing at a reasonable rate
Optimization
We optimize acquired assets through increasing and maintaining production, reducing costs, and eliminating constraints
Asset Retirement
We strive to be good stewards of our environment and retire or divest our assets in a responsible manner
Our President
Richard is the Founder and President of Lucky Lad Energy.
Prior to founding Lucky Lad, Richard was an Operations Engineer for Hilcorp Energy where he managed 6,750 BOED across 5 fields along the Louisiana Gulf Coast, valued at over $240 million. He developed and supervised capital and wellwork programs within a $40 million budget and created over $200 million in asset value in the first two years. In three years, he implemented four waterfloods increasing field production by 1,280 BOED and field value by 22% ($52.8 million) by adding 4.5 million barrels of reserves.
Prior to Hilcorp, Richard was employed by Merit Energy where he managed Merit’s Permian Basin and newly-acquired Oklahoma assets. He created capital and operating budgets and developed wellwork and capital programs to increase and optimize production. In two years, Richard was able to increase field value by 29% and $15 million by driving production up and reducing operating costs.
Richard began his career as an Operations Engineer for BP America. He has experience operating mature assets in the San Juan Basin, Permian Basin, Anadarko Basin, and the Gulf Coast Basin.
Richard earned his BS degree in Petroleum Engineering from the University of Oklahoma and his MBA from Louisiana State University. He is also a Registered Professional Engineer in the State of Texas.
