MIDLAND, Texas--(BUSINESS WIRE)--Midland-based EnCore Permian (EnCore) announced today that Ted Williams has joined the company as Partner and Chief Operating Officer (COO). Williams is responsible for building out and leading EnCore’s growing operations department, as the company makes a material transformation from a historically transactional leasehold and mineral acquisition firm, to an oil and natural gas exploration and production company. As part of this transition, EnCore will deploy its first rig in north Reeves and Culberson counties at the end of this year.
“We are at a pivotal point in our journey and excited about our future as we continue to capitalize on opportunities to successfully transition into a leading E&P operator,” said J.D. Smith, EnCore Permian Chief Executive Officer. “Ted has an extensive background in A&D, minerals, upstream exploration, and working within leadership teams to transact and grow in a fast-paced, entrepreneurial environment. We are confident that Ted’s new role as Partner and COO of EnCore will be a key component as we build on our successful track record and execute on powerful strategic initiatives in one of the leading oil and gas development regions in the U.S., the Permian Basin.”
“I am thrilled to have partnered with EnCore and joined their leadership team,” said Williams. “I look forward to continuing to expand upon EnCore’s proven track record of success, assembling a best-in-class operations team to position us as a premier E&P partner in the Delaware and Midland basins, and beyond.”
Founded in 2017 by J.D. Smith and Josh Lorenz as a successor to PetroLima, LLC, EnCore began as a leasehold and mineral acquisition firm investing more than $200 million in the purchase of over 33,000 acres across 100 deals. The company has quickly grown and transitioned those strategies into an upstream exploration and production company. EnCore currently has approximately 10,000 acres of horizontal drill-ready assets in the Midland and Delaware Basins. To support this anticipated drilling activity, Williams has begun building out the company’s operations team, most recently adding Davis Walker as Vice President of Exploration and Tyler Thomason as Vice President of Operations.
"We are especially pleased to have Davis Walker and Tyler Thomason round out our operations team with Ted. We see these additions as analogous to the 1990 Dallas Cowboys trifecta of Aikman, Irvin and Smith; we are on track to win some championships," said Smith.
About Ted Williams
Williams has a long and demonstrated history in the energy industry. While a significant portion of his background is in energy finance, Williams most recently served in executive officer roles in partnership with Luxe Energy and Luxe Minerals. As President of Luxe Minerals, Williams grew the company to a core 15,000 net royalty acres in the Permian Basin. Upon his departure, Luxe Minerals had material cash flow and a healthy balance sheet. Williams also served as Vice President of Business Development for Luxe Energy, where he was integral in establishing the company’s operated position, creating drilling capital financing, negotiating commercial contracts, managing relationships with potential buyers, and managing banking relationships. Ultimately, Williams helped Luxe Energy become a 35,000 net acre Delaware basin company producing 25,000 net barrels of oil equivalent per day from 33 horizontal wells with another strong balance sheet. More information about Williams’ professional background can be found here.
About EnCore Permian:
Founded in 2017, EnCore Permian is an oil and gas exploration and production company primarily focused in the Permian Basin region of West Texas and southern New Mexico. Currently, EnCore Permian has operated assets, non-operated assets, and mineral interests in both the Midland and Delaware Basins. EnCore is headquartered in Midland, Texas, with the Operations department located in Austin.