TPH’s CEO Luncheon Series continued with Synergy’s Chairman, President & CEO Lynn Peterson. TPH hosted a pioneer of the shale revolution on April 7th. Lynn Peterson, who co-founded and led Bakken Shale early mover Kodiak Oil & Gas for 15 years until its highly successful sale to Whiting Petroleum in 2014, joined DJ Basin-focused Synergy’s leadership team in 2015. Mr. Peterson described the opportunities and challenges inherent in entrepreneurial pursuits in the business, particularly those found at cycle peaks and troughs. At the peak, what may look easy (e.g., selling Kodiak to Whiting in July 2014) is actually quite difficult. Chief among opportunities found at cyclical troughs is the chance to partner and work with a select team of committed oil and gas professionals who simply make the day-to-day stimulating and fun. With respect to Synergy and its current lean balance sheet and organizational advantages, Lynn alluded to the opportunity to attract a circle of executives to aid in his mission to take Synergy to the next level and hurdles with respect to the availability of quality, contiguous acreage – i.e., those who have it aren’t inclined to sell at the bottom. On the subject of the Colorado regulatory and political environment, he discussed a couple of initiatives which, if passed in the upcoming fall elections, could severely impair the viability of the oil & gas industry in the DJ Basin. We got the sense that, similar to his conviction that a cyclical recovery would eventually unfold, Mr. Peterson believes positive and rational outcomes will be the case for Colorado’s oil and gas industry regulatory debate.
Mark Meyer, Lynn Peterson, Dan Pickering
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