Formentera Partners Announces Jay R. Pryor Joins as Operating Partner

Appointment underscores Formentera’s expanding opportunities to deploy U.S. shale technology in international basins

AUSTIN, Texas--(BUSINESS WIRE)--Formentera Partners, an Austin-based private oil and natural gas investment, development, and operations firm, today announced that Jay R. Pryor has joined the company as Operating Partner. In his new position, Pryor will play a key role in leading Formentera's international business development.

Pryor will help Formentera identify, manage and execute international business opportunities where the firm can efficiently deploy its U.S. shale technology advantages to scale and commercialize new unconventional basins. The appointment further strengthens Formentera’s growing international footprint that includes its joint-venture partnership with INPEX, one of the world’s largest and most experienced LNG providers, to develop natural gas resources in Australia’s Beetaloo Basin.

“Jay brings 40 years of global upstream and downstream experience, along with strategic global relationships that are difficult to replicate,” said Bryan Sheffield, Managing Partner of Formentera Partners. “As we extend our highly successful operating model into new shale basins around the world, his judgment, network, and strong reputation will be invaluable in turning international opportunities into value-creating assets.”

“Formentera is proving that disciplined operators and modern U.S. shale technology can unlock exceptional returns anywhere in the world,” said Pryor. “I'm excited to help bring that playbook to unconventional basins internationally and work alongside service providers, governments and partners to develop new shale resources profitably and responsibly.”

Prior to joining Formentera, Pryor served as Vice President of Business Development at Chevron, where he was responsible for finding and developing new, large-scale upstream and downstream opportunities. He brings deep relationships with top-tier service providers, local governments and strategic partners, which are critical to rapidly developing and scaling international shale production.

Pryor sits on the Foundation Board for Mississippi State University and serves on the Energy Advisory Board at the University of Houston.

About Formentera

Formentera Partners is a private oil and gas investment, development, and operations platform focused on acquiring, operating, and developing oil and natural gas assets globally. Formentera produces approximately 75,000 barrels of oil equivalent on approximately 3 million acres globally with balanced commodity exposure. Based in Austin, Texas, the firm directly employs more than 300 people and manages more than $2.9 billion in total investor commitments. Formentera prioritizes responsible operations, free cash flow generation, reliable distributions, strategic development, and long-term value creation by levering its deep expertise and relationships in shale development, engineering, operations, and finance.

For more information, visit www.formenterapartners.com.