WHO WE ARE

HIGH-CHARACTER, HIGH-MARGIN ENERGY PRODUCER

Started in 2014, Blackbeard has become one of the largest privately held energy producers in the United States. We focus on acquiring, operating, and developing high-quality, mature energy producing properties. Our disciplined approach has created a high-margin business with diversified assets, a strong balance sheet, high-return reinvestment opportunities and a culture of servant leaders that prioritizes environmental stewardship and safety. Our business model is designed to support flexibility and profitability through the cycles.

With continued support from our equity sponsors, NGP Capital Partners, the management team and strategic 3rd party professionals we are committed to delivering positive results and maintaining our culture of excellence. We also strive to foster relationships with like-minded individuals, companies, and vendors in order to add value in all facets of our daily operations. We are continuously looking to establish new business partnerships to accelerate deal flow and diversify the risks associated with finding and developing energy producing properties.

With both highly motivated and innovative technical personnel and a premier asset base, we are delivering an investment to our partners that delivers high-yield results and ensures continued success for years to come.

High Quality, Diverse Asset Base

Our teams experience operating in the major domestic resource plays has allowed us to focus on assets that possess the following characteristics:

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Core, high activity basins

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High margin production with shallow declines

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High project level rates of return, low breakeven costs

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Predictable and repeatable results

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Stacked pay, with unquantified upside optionality

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HBP acreage with minimal capital commitments

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Complementary midstream and infrastructure assets

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High Quality, Diverse Asset Base

Our teams experience operating in the major domestic resource plays has allowed us to focus on assets that possess the following characteristics:

N

Core, high activity basins

N

High margin production with shallow declines

N

High project level rates of return, low breakeven costs

N

Predictable and repeatable results

N

Stacked pay, with unquantified upside optionality

N

HBP acreage with minimal capital commitments

N

Complementary midstream and infrastructure assets

Operational Excellence

Our lean organizational structure enhances our execution, as we’ve removed unnecessary bureaucracy and layers of approval.  Our culture of continuous improvement extends from the top, down.  Team members with deep knowledge of their discipline and asset area are best positioned to identify areas for improvement and they are empowered with management support to lead those initiatives.  Equity ownership extends to nearly all levels of the organization and contributions are recognized and valued.

Built to Weather the Storm

In 2020, in response to the Covid-19 demand shock and general market weakness, Blackbeard held production levels flat year-over-year, reduced operating costs by 15%, executed strategic acquisitions and divestitures, and generated over $120 MM of free cash flow.  We entered 2021 stronger, leaner and better positioned to deliver a unique combination of sustainable free cash flow and meaningful multi-year production growth to the benefit of all our stakeholders.

The Management Team

Blackbeard is led by industry professionals with years of proven exploration and production experience. Our culture of Servant Leadership starts at the top through setting the right vision, sound decision making and effective delegation.

Kaleb Smith

Chief Executive Officer

Kaleb leads Blackbeard and brings along a record of value and growth within the E&P Industry. Since 2014, Kaleb has been the CEO, President, and co-founder of Blackbeard Resources, LLC. Prior to forming Blackbeard, Kaleb worked at XTO Energy where he was responsible for reservoir engineering, development, and field management of the Freestone Field located in East Texas. After the sale of XTO Energy to ExxonMobil, Kaleb moved to an engineering role for a privately held E&P company headquartered in Midland, Texas. There, he managed and developed multiple fields within the Delaware Basin, Central Basin Platform, and Midland Basin before a successful asset sale to Linn Energy. Kaleb also has experience managing a non-operated E&P company with working interest in Kansas, Oklahoma, and Texas. Kaleb received his B.S. in Petroleum Engineering from Texas A&M University.

Kareem Ahmed

Chief Operating Officer

Since 2014, Kareem has been responsible for Blackbeard’s operations including but not limited to: engineering, geology, field operations, and land. Prior to co-founding Blackbeard, Kareem held an operational engineering position at XTO Energy where he was responsible for completions and operations of over 300 wellbores in the Barnett Shale. He also worked as a reservoir engineer at XTO Energy where he managed over $500 million of oil and gas properties and was responsible for sourcing, monitoring, evaluating, and executing on investment opportunities across the portfolio. Kareem received his B.S. in Petroleum Engineering from Texas Tech University.

Jordan Barrett

Chief Financial Officer & VP of Business Development

Jordan co-founded Blackbeard in 2014 as CFO and is responsible for corporate planning and business development. Jordan brings to the team a strong history and background in finance, accounting, and management. Prior to Blackbeard, Jordan held an Executive Vice President position at an oil field services company, and has been the managing partner of two oil field services startups.  Jordan has years of sales experience, and has developed an extensive network of contacts within the oil and gas industry. Jordan received his B.S. in Economics from Texas Tech University, a MBA from Texas Tech University, and holds an Airline Transport Pilot rating.

Jarrod Howell

VP of Reservoir Engineering

Jarrod has led our Reservoir Engineering group responsible for reserves, A&D evaluations, and corporate financial modeling since 2015.  Prior to joining Blackbeard, Jarrod worked as an evaluation engineer at Legacy Reserves, an upstream MLP, where he was responsible for finding and evaluating acquisitions in multiple basins across the United States. Before Legacy, Jarrod worked at XTO Energy as a reservoir engineer responsible for reserve analysis, field development, and field management of various East Texas and North Louisiana operated and non-operated fields. Jarrod received his B.S. in Petroleum Engineering from Texas A&M University, an MBA from Texas Christian University, and is a registered professional engineer in the state of Texas.

Ricky Torlincasi

General Counsel

Ricky joined Blackbeard as General Counsel in October 2019 and has a strong history in Texas-based law firms. Prior to joining Blackbeard, Mr. Torlincasi held positions at both international and large, Texas-based law firms, where he concentrated on mergers and acquisitions, corporate finance and securities, and private equity investments in a variety of upstream and midstream oil and gas transactions. Mr. Torlincasi received his B.A. from Texas Christian University and his J.D. from Texas A&M University School of Law.