WHO WE ARE
HIGH-CHARACTER, HIGH-MARGIN ENERGY PRODUCER
Established in 2014, Blackbeard embarked on its journey with a steadfast commitment to excellence. Despite our substantial growth over the years, our core values remain unwavering. Our primary focus revolves around the acquisition, operation, and development of high-quality, mature energy-producing properties. Through a disciplined approach, we have cultivated a high-margin business featuring diversified assets, a robust balance sheet, enticing reinvestment opportunities, and a culture of servant leadership that places a paramount emphasis on environmental stewardship and safety.
Our resilient business model is intricately designed to navigate the dynamic cycles of the industry, ensuring both flexibility and profitability. Supported by our equity sponsors, NGP Capital Partners, as well as our dedicated management team and strategic third-party professionals, we are steadfast in our commitment to delivering positive results while upholding our culture of excellence.
In our pursuit of continuous improvement, we actively seek to forge connections with like-minded individuals, companies, and vendors. This collaborative approach allows us to add value across all facets of our daily operations. We are consistently open to establishing new business partnerships, aiming to accelerate deal flow and diversify risks associated with the exploration and development of energy-producing properties.
Backed by a dynamic team of highly motivated and innovative technical personnel and boasting a premier asset base, we take pride in delivering investment returns that are not only high-yield but also ensure sustained success for years to come. Our dedication to positive outcomes and a collaborative approach underscores our commitment to driving value and innovation in the energy sector.
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:
Core, high activity basins
High margin production with shallow declines
High project level rates of return, low breakeven costs
Predictable and repeatable results
Stacked pay, with unquantified upside optionality
HBP acreage with minimal capital commitments
Complementary midstream and infrastructure assets
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:
Core, high activity basins
High margin production with shallow declines
High project level rates of return, low breakeven costs
Predictable and repeatable results
Stacked pay, with unquantified upside optionality
HBP acreage with minimal capital commitments
Complementary midstream and infrastructure assets
Operational Excellence
Our streamlined organizational structure is a key driver of our operational efficiency, eliminating unnecessary bureaucracy and approval layers. At the heart of our approach is a culture of continuous improvement that cascades from top to bottom. Our team members, equipped with in-depth knowledge in their disciplines and asset areas, are not just encouraged but empowered by robust management support to spearhead improvement initiatives.
Equity ownership is a pervasive aspect of our organizational ethos, reaching nearly all levels. We believe in recognizing and valuing the contributions of every team member, creating an environment where individual efforts are acknowledged and celebrated. This commitment to broad equity ownership underscores our dedication to cultivating a workplace culture characterized by ownership, innovation, and a perpetual drive for advancement.
Built to Weather the Storm
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 substantial free cash flow. We entered the following year 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.