Overview

Denham Oil & Gas invests alongside upstream E&P and midstream entrepreneurs and business leaders with growth capital and strategic support to sponsor their success across various market and commodity environments.

E&P and midstream oil and gas value creation is challenging and competitive. We believe that business leaders and organizations that focus on operational and technical excellence, entrepreneurial business development and professional integrity are best positioned for success. Denham seeks to empower and resource those teams in helpful partnership so that they can focus on the hard work ahead.

Select Portfolio Companies

Our investment efforts span the oil and gas value chain with emphasis on North American Upstream E&P and Midstream.

Atlantic Resources Company

Atlantic Resources is an exploration and production company headquartered in Midland, Texas focused on pursing upstream oil and gas opportunities in the Permian Basin.

Clear Creek Resource Partners

Clear Creek Resource Partners is an exploration and production company focused on the leasing, acquisition and development of upstream opportunities in the DJ Basin.

Covey Park Energy

Covey Park was an exploration and production company focused on natural gas acquire and exploit opportunities in the Haynesville. In July 2019, Denham sold Covey Park Energy to Comstock Resources (NYSE: CRK) for $2.2 billion and retained an interest in the pro forma company. The combined exploration and production company is headquartered in Frisco, Texas and focused on developing the Haynesville.

Fairway Resources III

Fairway Resources III is repeat upstream oil and gas company focused on the acquisition and exploitation of long-life reserves in the Mid-Continent Region of Texas and Oklahoma.

Greene’s Energy Group

Greene’s Energy Group is an oilfield services company focused on the completions and production markets in South Texas, West Texas and New Mexico and also has certain divisions in Louisiana.  The company provides well testing, flowback and frac support services including wellhead protection.   In Texas, Greene’s is the market leader in wellhead protection services and a top 3 provider of well testing services.

Haymaker Minerals

Haymaker Minerals & Royalties is focused on the acquisition of large-scale packages of oil and natural gas mineral and royalty interests.

Horizon Resources III

Horizon Resources is focused on the acquisition of royalty, mineral and non-operated working interests in the Denver Basin.

Live Oak Resource Partners

Live Oak Resource Partners is focused on the acquisition of oil and natural gas royalty and mineral interests.

Rockies Resources

Rockies Resources is an exploration and production company focused on the leasing, acquisition and development of upstream opportunities in the Powder River Basin.

Spire

Spire HoldCo ( “Spire”) is a midstream development company focused on developing infrastructure to solve complex problems in Western Canada. Spire has a project in Kitimat, British Columbia called Pacific Traverse Energy (“PTE”) that is developing a greenfield propane export terminal.

  • Headquarters

    Vancouver, Canada
  • Website

    www.spireholdco.com
  • Sector

    Oil & Gas
  • Exit Description

    Denham sold PTE in 2020.

Ursa Resources Group II

Ursa Resources Group II is an oil and gas exploration and production company primarily focused on the Piceance Basin in Colorado.

WhiteWater Midstream

WhiteWater Midstream is a midstream company founded in 2016 with multiple pipeline assets servicing the Permian Basin of West Texas.

  • Headquarters

    Austin, TX
  • Website

    http://whitewatermidstream.com/
  • Sector

    Oil & Gas
  • Exit Description

    Denham exited investments in Agua Blanca and Whistler natural gas pipelines in 2019 and made a new investment in BANGL Pipeline in 2020.

Sector Team

Stuart Porter

Founder and CEO

Stuart Porter is a Founder, Managing Partner and serves as the firm’s Chief Executive Officer and Chief Investment Officer. Stu brings over 29 years of senior investment experience to Denham. Stu serves on the Investment Committee and Valuation Committee.

Prior to founding Denham, Stu was a founding partner of Sowood Capital Management LP and, prior thereto, was employed as a Vice President and Portfolio Manager at Harvard Management Company, Inc. where he focused on public and private transactions in the energy and commodities sectors. Stu previously worked for Bacon Investments and at J. Aron, a division of Goldman Sachs. While at J. Aron, he worked on the Goldman Sachs Commodity Index desk. Prior to joining J. Aron, Stu was a self-employed trader at the Chicago Board of Trade and was employed by Cargill Incorporated in Minnetonka, Minnesota in the Financial Markets Division.

Stu received a Bachelor of Arts from the University of Michigan and a Master of Business Administration degree from the University of Chicago Booth School of Business.

Jordan Marye

Managing Partner

Jordan Marye is a Managing Partner of Denham Capital where he leads the firm’s Oil & Gas investment effort. He joined Denham in 2006 and is a member of the Investment Committee and Valuation Committee.

Prior to joining Denham, Jordan worked in the Global Energy Group of UBS Investment Bank and the Energy Practice of Huron Consulting Group. He currently serves on the Board of Directors of multiple Denham portfolio companies/investments including Comstock Resources (NYSE: CRK), Fairway Resources III, Clear Creek Resource Partners, Spire HoldCo, and Rockies Resources.

A native of south Louisiana, Jordan received a Bachelor of Science from Louisiana State University.

Carl Tricoli

Managing Partner

Carl Tricoli is a Founder, Managing Partner and co-heads the firm’s Mining team. He brings 36 years of experience to Denham and is a member of the Investment Committee and the Valuation Committee.

Prior to joining Denham in 2004, he served as President of GeosCapital (a J.M. Huber Corporation), after serving as Vice President for Enron North America, Managing Director of Koch Producer Services, President of Black Hawk Resources and Managing Director of Corporate Finance for NationsBank Capital Markets. Carl serves as a member of the Board of Directors of Tremont Master Holdings, Ltd. and Mining Ventures Brasil Ltda.

Carl received a Bachelor of Arts from the University of Texas at Austin and a Master of Business Administration from Cass Business School in London.

Geer Blalock

Managing Director

Geer Blalock is a Managing Director, responsible for origination, analysis, structuring and execution of investments for the O&G Deal Team. He joined Denham in 2008.

Prior to joining Denham, Geer was an Analyst at Randall & Dewey, a division of Jefferies & Company, where he focused on the oil and gas exploration and production industry. He is currently on the Board of Directors of Atlantic Resources, Live Oak Resource Partners, Ursa Resources Group II, Haymaker Minerals, and Horizon Resources.

Geer received his Bachelor of Business Administration from the University of Texas at Austin.

Jason Craig

Managing Director

Jason Craig is a Managing Director, responsible for origination, analysis, structuring and execution of investments for the O&G Deal Team. He joined Denham Capital in 2012.

Prior to joining Denham, Jason was a Petroleum Engineer with Newfield Exploration. He is currently on the Board of Directors of Fairway Resources III, Horizon Resources III, and Live Oak Resource Partners.

He received a Bachelor of Science in Petroleum Engineering from The University of Texas at Austin and a Master of Business Administration with High Honors from the University of Chicago Booth School of Business.

James Obulaney

Managing Director

James Obulaney is a Managing Director at Denham Capital, responsible for origination, analysis, structuring, execution and monitoring of its O&G investments. He joined Denham in 2014.

Prior to joining Denham, James was an Associate in the Energy Private Equity Group at Avista Capital Partners and an Analyst in the Global Energy Group at Morgan Stanley.

He currently serves on the Board of Directors of Atlantic Resources, Clear Creek, Covey Park, Tall City II, Ursa Resources II and multiple mineral platforms. James earned a Bachelor of Science in Engineering from Texas A&M University.

Steven Smith

Managing Director

Steven Smith is a Managing Director, responsible for origination, analysis, structuring, execution and monitoring of investments for the O&G Deal Team. He joined Denham in 2011.

Prior to joining Denham, Steven was an Analyst in the Energy Investment Banking Group of Evercore Partners and an Analyst at GulfStar Group. He currently serves on the Board of Directors of WhiteWater Midstream, Rockies Resources, Fairway Resources III and Greene’s Energy Group.  Former Board seats include Outrigger Energy, COG Energy and Spire HoldCo.

Steven graduated cum laude with a Bachelor of Business Administration in Finance, Texas A&M University.

Anil Pillai

Director

Anil Pillai is a Director at Denham Capital, responsible for analysis, structuring, execution and monitoring of its O&G investments.

Prior to joining Denham in 2014, Anil was an Analyst in the Energy Investment Banking Group of Jefferies LLC.

He currently serves on the Board of Directors of multiple Denham portfolio companies. Anil earned a Bachelor of Business Administration in Finance and Economics from The University of Texas at Austin.

Erin Van Volkenburgh

Technical Director

Erin Van Volkenburgh is a Technical Director, responsible for technical screening and valuation, risk assessment and portfolio management for the Oil & Gas Team. She joined Denham in 2019.

Prior to joining Denham, Erin was a subsurface asset team lead in the Delaware Basin at Chevron and has 17 years of experience in reservoir management, production operations and drilling across a diverse set of assets at Chevron and ExxonMobil. 

She earned a Bachelor of Science degree in Chemical Engineering from Texas A&M University and a Masters of Business Administration from Wharton’s executive MBA program in San Francisco.

Caroline Petersen

Vice President

Caroline Petersen is a Vice President, responsible for financial modeling, execution and monitoring of investments. She joined Denham Capital in 2017.

Prior to joining Denham, Caroline was an Associate in the Global Natural Resources Group of the Investment Banking Division of Barclays, where she focused on the oil and gas industry.

Caroline earned a Master of Real Estate and Bachelor of Business Administration in Business Honors at Texas A&M University. She graduated summa cum laude.

Zac Query

Vice President

Zac Query is a Vice President, responsible for financial modeling, execution and monitoring of investments.  He joined Denham Capital in 2016.

Prior to joining Denham, Zac was an Analyst in the Energy Investment Banking Group of Evercore Partners and an Analyst in the Energy Investment Banking Group of Raymond James.

Zac earned a Bachelor of Science in Mechanical Engineering with a second major in Economics from Washington University in St. Louis.  He graduated magna cum laude.

Zack Belski

Associate

Zack Belski is an Associate, responsible for financial modeling, execution and monitoring of investments. He joined Denham Capital in 2019.

Prior to joining Denham, Zack was an Analyst in the Global Natural Resources Group of the Investment Banking Division of Barclays, where he focused on the oil and gas industry.

Zack earned a Bachelor of Arts in Economics at Princeton University. He graduated cum laude.

Christine Hill

Associate

Christine Hill is an Associate, responsible for financial modeling, execution and monitoring of investments.  Prior to joining Denham in 2020, Christine was an Associate in the Energy Investment Banking Group of RBC Capital Markets.

Christine earned a Bachelor of Business Administration in Finance with a minor in Economics from Texas A&M University. She graduated summa cum laude.

Cole Parsons

Associate

Cole Parsons is an Associate, responsible for financial modeling, execution and monitoring of investments.  He joined Denham Capital in 2018.

Prior to joining Denham, Cole was an Analyst in the Energy Investment Banking Group of Tudor, Pickering, Holt & Co.

Cole earned a Bachelor of Science in Business Administration in Finance and Honors College Degree from Oklahoma State University and a University Diploma in Management from the Université de Limoges. He graduated summa cum laude.

Artur Shikhaleev

Associate

Artur Shikhaleev is an Associate, responsible for financial modeling, execution and monitoring of investments. He joined Denham Capital in 2018.

Prior to joining Denham, Artur was an Analyst in the Energy Investment Banking Group of Jefferies LLC.

Artur earned a Bachelor of Science in Economics with a second major in Statistics from Duke University. He graduated cum laude.

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Matt LeBlanc

Technical Associate

Matt LeBlanc is a Technical Associate, assisting in engineering analysis, technical due diligence, and data management.

Prior to joining Denham, Matt was a Senior Engineering Analyst at SM Energy and an Engineering Tech at Occidental Petroleum.

Matt earned an Associate of Arts degree in Natural Science from Northwestern State University and a Bachelor of Science in Interdisciplinary Studies from Louisiana State University.

Van Pham

Technical Associate

Van Pham is a Technical Associate, assisting in engineering analysis, technical due diligence, and data management.

Prior to joining Denham, Van was a Senior Engineering Analyst at Macquarie Bank and a Petrophysical Technician at Petrophysical Solutions, Inc

Van earned a Bachelor of Arts in English at the University of Texas at Austin.

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