Where we invest

We are focused on investing in conventional oil and gas assets with identified technical upside.

Overlooked conventional fields

are often no longer ‘core’ to their owners, receive little technology or capital

Identified conventional upside

through enhancement opportunities, workovers, PUD locations, or EOR

Potential unconventional upside

in the source rock or other bypassed pay zones

Building an Energy Company from First Principles

We are building an independent, agile, oil & gas company that applies a contrarian approach to asset identification and a curious, engineering led approach to asset exploitation and company building. Targeting Technical Potential drives the philosophy and organization structure of our company, and our team reflects the eclectic skill set to pursue it. We combine deep oil field and financial expertise with a history of public and private company managerial experience in several industries. We mean to apply best practices in petroleum engineering, financial engineering, company development, and team building in order to drive sustainable returns.

Our mission is Targeting Technical Potential (TTP), and we believe it fundamentally changes the way a company does business. It requires:

  • Analysis of what is possible, in addition to what has happened.
  • Performance management, not expectation management.
  • Innovation, which requires occasional failure.

Technical potential is the maximum revenue generating capacity of a company’s assets. In oil & gas, that means the maximum production possible from an existing asset, and is best described by Darcy’s Law, pictured below

Achieving higher percentages of technical potential is the largest source of Alpha in oil & gas. Oil prices and geology are Beta factors that can be hedged or learned, respectively, but never directly managed. TTP requires executives, managers, and shareholders to support a corporate culture of transparent failure. Perfection will not be achieved. Targeting perfection, however, will lead to better technical and operational outcomes, and better, more sustainable, returns on investment.

What we Want

Our asset identification process targets current producing assets with identified enhancement upside and potential unconventional upside in the source rock or other bypassed pay zones.  Such a profile gives us the ability to acquire assets with a positive base return, while allowing for multiples of capital allocated through successful enhancement and identification of unconventional drilling locations.  Our approach limits downside while targeting ample equity returns without reliance on market changes in commodity prices or cash flow multiples.  We welcome partnership with those who know the assets best, hands-on, in the field or in the geo-model.

In practice, this means we seek assets producing  up to ~5,000 boepd through multiple well bores penetrating multiple potential pay zones, providing ample and current data. Oil is preferred, but gas will be reviewed opportunistically. We usually require full access to all minerals and Alpha operator-ship, as we would like to apply our engineering and ‘What’s Possible’ approach.  Partnering with local operators can be successful if we feel the property is particularly attractive and our engineering analysis is in line with those operators.

Why we believe there is an opportunity:

  • Technology has vastly improved extraction efficiency, but the technology has not been evenly applied
  • Capital and engineering talent have been heavily concentrated on several core basins
  • Conventional fields have been overlooked or ignored in many cases
  • Conventional fields are no longer ‘core’ to their owners, often financially immaterial, while representing a large capital opportunity to a specialist such as Alpha.

We witness concentrated capital, technology, and management attention, and believe it creates an opportunity for successful contrarian geographic focus and asset identification.

Management team

Tom Reed

Tom Reed

CEO

Prior to founding Alpha, Tom was the CEO of JKX Oil & Gas plc and former CEO and CFO of RusPetro plc, both Main Board companies on the LSE, where he led oil field development and corporate turn-around projects in Russia, Ukraine, and Eastern Europe. Tom is a serial entrepreneur, with 20 years of experience building companies and teams from concept to IPO. Tom earned a B.A. in Philosophy & Finance from the University of Southern California. He is a member of the Society of Petroleum Engineers.

Jason Senior

Jason Senior

Management and M&A

Jason is the former CEO of the SaaS platform memberplanet and the former Deputy CEO and COO of News Outdoor, which became the six-largest out-of-home advertising company in the world. He has deep experience managing operations and M&A activity, having developed and managed the company to 4,000 employees across 14 countries and completing more than 50 acquisitions. He sits on the board of several private companies, and earned an MBA from Columbia Business School and London Business School.

Don Wolcott

Don Wolcott

Engineering and Technology

Don began his career at the ARCO production enhancement technology team, managing conventional fields in Alaska and California. As Head of Schlumberger’s Production Management Division, and then as SVP of Production and Development for YUKOs, Don led the engineering for the turn-around of Yukos oil production from 1999-2004 adding nearly 1mbopd in 5 years from mature fields with limited drilling. He was also the CEO of Petroceltic International, CEO of Ruspetro plc, and advisor to the CEO of Irkutsk Oil Company prior to Alpha. Don holds a Ph.D. in Petroleum Engineering from the Colorado School of Mines, and has authored the textbook Applied Waterflood Field Development. He is a member of the Society of Petroleum Engineers.

Slava Kotov

Slava Kotov

Finance and investments

Slava is the former Head of Corporate Finance of LSE-listed JKX Oil & Gas plc and Ruspetro plc where he executed multiple transactions raising equity on the London Stock Exchange and raising and restructuring debt with a combined value of ~$650m. He has more than 10 years of M&A, capital markets, investment, and corporate finance experience. Slava earned an MBA at the Wharton School, University of Pennsylvania and is a CFA charterholder.

Technical and advisory board

Alpha Energy has a unique team of technical experts and advisors helping us achieve our goals:
Oleg Mikhaylov

Oleg Mikhaylov

Advisor

Oleg is a former manager of large conventional portfolios around the world: Head of Upstream for Bashneft (300,000 bopd), manager of West Siberia Upstream for TNK-BP, (1,000,000 bopd). Managed 75,000 bopd for Chevron in GOM. Oleg earned his PhD in Geosciences from MIT and an MBA from Berkeley

Nick De'Ath

Nick De'Ath

Advisor

Nick has spent the last 40+ years working around the globe and has an excellent investment perspective from large and small Independent E&P companies as well as NOC’s, Government Institutions and the financial investment community. He spent 21 years with BP including Chief Geologist (North Sea) and General Manager, Colombia. After nearly 10 years with Triton Energy, Hunt Oil, IPR and PwC he was then Chief Reservoir Geologist at Yukos and from 2006 - 2011 was Director Subsurface Assurance at TNK-BP. Mr De'Ath's outstanding career has been based on his dynamic leadership style, exemplary technical expertise and focus on business success. His drive has always been to mobilize people toward a vision, developing people to achieve more than they thought possible and leading by ‘hands-on’ example; for Commercial Services to Colombia, he was awarded the MBE (Member of the British Empire) in 1990 by Queen Elizabeth II.

News and updates

Alpha Energy Launches in the US

Alpha Energy is now actively seeking investment opportunities and acquisition targets in the US.  If you think something may be of interest to us, please send us an email or your proposal below.

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