L. Powell, IV, a resident of Fort Worth, Texas, serves
as CEO of CPX Energy. Prior
to CPX Energy and CP Exploration III, Tom negotiated a farm-out and joint
development agreement with ConocoPhillips and within just 2 years established a
minimum of 146 horizontal drilling locations and an asset with a reserve value
exceeding $1 billion. May 15, 2017 CP Exploration II, LLC sold certain assets
to Resolute Energy (REN) for $160 million. Acquired 26,000 net acres (2007) in
the North Dakota Williston Basin. Developed, participated, then sold production
in 147 horizontal wells and leasehold to Linn Energy (LINE), Tracker Energy,
Occidental Petroleum Corporation (OXY) and Black Ridge (OTCQB: ANFC) for an
aggregate $162 million in exit proceeds. Sold 14,000 acres in the Permian Basin
to WPX Energy for an undisclosed confidential price (CA). Established a 33,000
acre position in East Texas, then sold for an undisclosed confidential price.
Owns various assets in Texas targeting the liquids-rich portions of the Eagle
Ford Shale and the Permian Basin consisting of both working interest and
royalty interest with EOG and Marathon.
From 1996 to 2006 he served as
President of Thomas Development - Oil and Gas Acquisitions, with offices in
Fort Worth, Lafayette, Scranton, and Pittsburgh. Member ADAM Energy Fort Worth, Texas Oil and Gas
Association, Independent Petroleum Association of America, and Louisiana Oil and Gas
has been directly involved and has assisted with the drilling of hundreds of
oil and gas wells and deals totaling $9.0 billion. Married since 1987…Tom
enjoys family, flying, architecture, and serving on multiple company boards.