Texas Standard Oil LLC is a Midland based oil company that is actively acquiring oil & gas leasehold and is focused on drilling in the horizontal Wolfcamp play of the Permian Basin.
Permian Basin
Management has been drilling in the Permian Basin since 1984 and operated its first well in the Permian Basin in 1987. Texas Standard Oil LLC has acquired a large lease block in the horizontal Wolfcamp play in the Permian Basin and has acquired numerous cores from the Wolfcamp shale in its target area.
Texas Standard Oil Company
In 2001, Mr. Roberson and Mr. Sharman co-founded Texas Standard Oil Company to acquire an overriding royalty from the publicly traded Freeport-McMoRan Oi & Gas Royalty Trust and combine it with the working interest (contemporaneously acquired from IMC Global) in offshore blocks and platforms in the federal waters of the Gulf of Mexico, averaging approximately 10,000 BOEPD gross production (70% oil) when acquired. A condition of the sale of the ORRI from the Trust required Texas Standard Oil Company to offer to exchange 30% of its capital stock for all of the units of the Trust. Texas Standard Oil Company registered itself as a publicly traded company in all fifty states in order to make the exchange offer. In the event that less than 50% of the units should elect to accept the exchange offer then Texas Standard Oil Company would remain private. Less than the requisite 50% of the units elected to accept the exchange offer and Texas Standard Oil Company remained a private company. Most of the properties were sold and the remaining assets were eventually liquidated in 2010.
Texas Standard Oil & Gas, L.P.
Mr. Roberson founded Texas Standard Oil & Gas, LP (“TXS”) in 2004. TXS began its success by participating in a 14,100’ Planulina Sand discovery in the Backridge Field in Cameron Parish, Louisiana. The well produced at sustained rates of over 1,000 bopd. TXS organized, structured and promoted the shooting of a 100+ square mile 3D seismic block in Wharton County, Texas. The shoot led to multiple discoveries including a 10 bcf, 50 mbo, single well completion.
Management
- Mr. Roberson has 39 years of experience in all phases of the oil and gas exploration and production business with focal areas on company start-ups, management of exploratory prospect origination, and in drilling, completion and production operations management. Mr. Roberson is President, co-founder and co-owner of recently formed Texas Standard Oil LLC. Mr. Roberson through several start-up companies has been an operator and/or producer since 1987 in the Permian Basin, the East Texas Basin, the Texas Gulf Coast, South Louisiana and in the Federal OCS waters of the Gulf of Mexico.
- Mr. Sharman is a practicing oil and gas lawyer and the founder and owner of TXS 498 Corp., a small independent oil and gas investment company participating in various oil and gas seismic/prospect generation programs with Tim Roberson, through his wholly owned companies (Roberson LP-1 and Texas Standard Oil & Gas, LP).
- Craig Young has 35 years of experience working all facets of petroleum engineering. He has spent most of his career in the Permian Basin and served as Permian Basin Division Drilling Manager for EOG Resources in Midland. He was responsible for all drilling operations in the Midland Division from July 2005 to September 2007. He earned the reputation as one of EOG’s top Shale Drilling & Completions “Trouble-Shooter” and “Well Performance Optimization” Engineer.
- Mr. Gibbon has over 40 years of experience in reserve estimating, economic analyses, and reservoir engineering. Before joining Texas Standard Oil, Mr. Gibbon was Vice President of Tall City Exploration, a highly successful Permian Basin oil company backed by Denham Capital. Tall City made a major, successful extension of the Wolfcamp horizontal play in the Midland Basin with a 68 mile step out into northern Howard County, Texas.
- Lynn Charuk has over 36 years of petroleum geological experience in the Permian Basin with extensive experience in the unconventional Wolfcamp and Bone Spring plays of the Delaware and Midland Basins. During his career, he has generated many significant discoveries in both the Midland and the Delaware Basins, producing over 500 million dollars in revenue. He also has experience in acquisitions and divestitures of properties, while serving in senior management positions for several operating companies.
- David Blackketter is an accomplished Permian Basin petroleum engineer with strong experience in reservoir engineering evaluation work on both conventional and unconventional New Mexico, Permian Basin oil and gas reservoirs. He began his oil & gas career with Berry Petroleum Company (later acquired by Linn Energy) where he developed high-graded production type curves and Capital Forecasting tools.
- Mr. Millican is a Top-Level geologist/seismic interpreter, skilled in the integration of seismic interpretation, subsurface geology, and reservoir rock properties with thirty-five years of experience in Texas, Louisiana, and the Gulf of Mexico with specialized experience in salt dome and sub-salt exploration/exploitation and interpretation. Mr. Millican has interpreted 3-D and 2-D seismic on SMT, Petrel, GeoQuest, Landmark, and Geographix workstations since the late 1980’s with special emphasis placed on working within a multi-discipline team.
- Ms. Johnson joined Texas Standard Oil Company in 2001. She has since been responsible for all aspects of General Ledger and Operations accounting for several Texas Standard Oil Company affiliated entities. In addition to her accounting duties she has handled all office administration tasks.
- Doug Scott has over 45 years of E&P experience primarily in the Permian Basin, but also in the Rocky Mountains, South America, Europe and Asia. Mr. Scott spent over 40 years with Halliburton where he served across multiple positions and geographies. After retiring from Halliburton, Mr. Scott consulted for Tall City Exploration, Halliburton, and several other Permian Basin operators.
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