Gary Petroleum Partners and Old Ironsides to pursue upstream investments

Colorado-based Gary Petroleum Partners LP has formed a partnership with Old Ironsides Energy LLC, an independent oil and gas investment manager, to pursue the acquisition and development of upstream assets in the Permian Basin under the name Gary Permian LLC. 

The Gary Permian management team has upstream and midstream experience, ranging from conventional exploration in the Mid-Continent and deep onshore Louisiana to unconventional resource play development in the Piceance, Denver-Julesburg, Bakken, Eagle Ford, and Permian basins. The team's initial focus will be on the acquisition and development of core Permian Basin assets, which it expects to begin assembling later this year.

Gary Permian's management team is led by CEO Darrin Henke who has more than 25 years of operational experience at Encana Corp., Tom Brown Inc., and Meridian Oil/Burlington Resources. In his most recent position with Encana, Henke was general manager of the Southern Operating Area, where he integrated the acquisition of Athlon's Permian assets into Encana while growing the production by 65% in the first year.

Samuel Gary Jr. and Craig Ambler, who have spent the past 28 years as partners in Samuel Gary Jr. & Associates Inc., will serve as non-executive chairman and non-executive vice chairman, respectively, of Gary Petroleum.

As CFO, Lonnie Brock brings over 30 years of strong financial market experience to Gary Permian. He has served as the CFO for four Denver, Colorado-based public oil and gas companies, and has also led numerous entities through the public IPO process. 

Julia Gwaltney is serving as the vice president of strategic planning and development of Gary Permian. She brings over 20 years of operational experience at Samson Resources, Encana Corp., and Burlington Resources. Her experience has included acquisition assessment, risk analysis, and evaluation of exploration and exploitation projects since the beginning of her engineering career.



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