A West Texas native, Lance graduated from Texas Tech University in 1999 with a BS in Petroleum Engineering. He has spent his entire career in the oil and gas industry, building a wide skill set with experience in Mid-Continent, Central Texas, Rockies, Gulf Coast, North Louisiana, and West Texas. Lance’s diverse engineering background was groomed at prestigious companies such as Anadarko Petroleum, Merit Energy, Pioneer Natural Resources, Denbury Resources, and Eagle Oil & Gas Co. His vast experience in completions, workovers, stimulations, secondary & tertiary recovery methods, artificial lift, and facility project management is well-suited for startup organizations. Lance’s completion expertise helped Eagle to sell their Wolfbone assets to Comstock Resources for $330 million in December 2011.
As a recognized leader in the Delaware Basin, Lance was uniquely qualified to lead Steward Energy. After securing $44 million in equity commitments, Steward Energy assembled 10,000 acres in the highly competitive Reeves County of the Southern Delaware Basin. Lance focused the team on testing the entire 3,500’ hydrocarbon column as a means of extracting the maximum value from the position. After identifying as many as ten separate horizontal targets, Steward made the strategic decision to sell the position in late 2014 prior to the collapse in oil prices. The coveted acreage position and thorough reservoir evaluation work performed by the Steward team returned an exceptional acreage value with a gross return on investment of nearly three times the original equity deployed.
Following the successful monetization of Steward Energy, Lance spent months studying market trends and scouting for prospects. Convinced that oil prices would stay lower for longer, he embarked to position Steward Energy II to thrive in a forty dollar per barrel oil price environment. Focusing on the often ignored conventional oil fields of the Permian Basin, Steward II is using modern drilling and completion techniques on the prolific San Andres formation and producing oil beneath and beyond the boundaries of the Permian Basin’s most legendary fields. While most headlines focus on shale development, Steward is achieving top-tier economic results while leading the revival of conventional pay in the Permian Basin.
Lance, his wife Dawn, and their two daughters have lived in Frisco, Texas since 2003. Lance and Dawn are active members of their church, children’s activities, and are avid supporters of several community outreach initiatives