White Marlin E&P Opens Houston Offices
White Marlin E&P has launched business operations and has opened its offices in Houston, Texas. Founded by four principal investors with extensive oil and gas experience, the new company is led by Terrell J. (Terry) Clark, President and CEO, and Jack C. Faubion, Chief Financial Officer. The management team is actively communicating with domestic and international investment groups, as well as E&P companies and the major A&D firms in Houston to secure oil & gas properties that fit White Marlin’s investment profile.
"There are excellent opportunities offshore in the Gulf of Mexico and onshore in the continental U.S to exploit proven, but underdeveloped reserves that larger operators have designated as non-strategic to their companies," said Terry Clark. "Many of these properties have existing underutilized infrastructure that we can use to leverage development opportunities. The State waters of Texas and Louisiana are great examples of areas that have fallen out of favor. We are working to build a balanced, tiered portfolio of offshore and onshore production and leasehold positions valued between $100 million and $200 million, which we expect to have in place this year. Our Principals possess a successful track record in all areas of oil and gas operations and have developed fields worldwide. We will leverage our collective experience and knowledge to carefully identify and develop hydrocarbon assets with a blend of high/low R/P ratios that can provide our investment partners a very solid return. Risk will be carefully managed by developing only well-maintained properties subject to profitable exploitation. In addition to conventional hydrocarbons, significant opportunities also exist in the production of non-conventional gases, which we intend to diligently pursue with our Mid-Continent strategy."
White Marlin E&P will focus on optimizing production efficiency while emphasizing safe, environmentally sound operations, an operating strategy that the company's management believes will provide investment stability at lower risk. The new company also plans regional operating centers to be strategically located near producing assets to minimize cost and simplify logistics, avoiding remote operations that might inflate operating expenses.
Mr. Clark began his professional engineering career with Amoco Production Company in the summer of 1980 working the oilfields of central and southern Wyoming. Over the next 17 years he developed expertise in oil and gas field exploitation and development while managing reservoir and production engineering programs domestically and internationally. In 1997 Terry joined Reading & Bates Development Company as the Director of Reservoir Engineering, and jointly built a start-up oil and gas subsidiary into a $315 million business in just four years. Leveraging his knowledge of the Gulf of Mexico shelf and deepwater exploration, drilling, and reservoir production, Mr. Clark oversaw the formation of two start-up consulting companies that specialized in Gulf of Mexico and international exploration and development. By 2007, he had profitably sold his interests in both companies and helped launch Black Elk Energy, LLC, an independent oil and gas producer, where he held the position of Chief Technology Officer and Executive Vice President until 2009. Mr. Clark holds a Bachelor of Science in Mechanical Engineering from the University of Colorado, is a registered professional engineer in Colorado, and a 28 year member of the Society of Petroleum Engineers.
Jack Faubion began his professional career in the Houston office of Arthur Andersen & Co. where he specialized in the annual audits of publicly held energy companies, including those with extensive offshore oil and gas operations. This experience was followed by 30 years as the Chief Financial Officer of a privately held energy company in Houston, trading natural gas liquids and producing oil and gas. Mr. Faubion has managed accounting, financial reporting, risk management, internal controls, back office functions, employee benefits and financing arrangements with both money center and regional banks. Obtaining his CPA certificate in 1973, Mr. Faubion is also a member of the American Society of CPAs, and is active in a variety of community organizations. Mr. Faubion is a 1972 graduate of Rice University, Houston, Texas (BS Accounting).