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Our History

Based in Tulsa, Oklahoma, Panther specializes in grassroots horizontal exploration of unconventional zones, while also developing conventional reserves of both oil and gas. The company’s founders, Chief Executive Officer Berry Mullennix and Chief Operating Officer Roy Grossman met in the mid-1990’s.

 

In 1998 the partners entered the Arkoma Basin with the idea of drilling the thin Hartshorne Coal seams in Hughes County horizontally. They pioneered the use of focused gamma tools to stay in zones that averaged only five feet. The pair drilled dozens of horizontal wells and acquired over 35,000 acres. In September 2001, Mannix Oil Company was sold to Williams Companies of Tulsa.

 

In early 2002, Roy and Berry formed another company that soon became Cannon Energy Company, LLC. They looked for other coal bed methane (CBM) plays to apply their technical skills and began drilling in the Cherokee Basin of northeastern Oklahoma and southeastern Kansas. The company eventually raised equity capital from Kayne Anderson in Houston, Texas, in 2003 and added CBM assets in the Piceance Basin near Grand Junction, Colorado.

 

In 2004, Cannon Energy Company, LLC, partnered with Red Willow Production Company from Ignacio, Colorado, near Durango, and began a project in Lipscomb County, Texas, to explore the Atoka Shale. After shedding its CBM assets, the company began a horizontal drilling program in the Anadarko Basin.

 

In February 2005, Roy and Berry brought in the parent entity of Red Willow Production and the Southern Ute Indian Tribe (SUIT) Growth Fund and bought out the interests of Kayne Anderson to form Panther.

 

Over the next few years, the company expanded its Anadarko play by 150,000 gross acres and drilled over 150 horizontal Cleveland, Marmaton, Cottage Grove, and Atoka wells. The company also expanded again into the Arkoma Basin, California, Montana, and North Dakota, focused upon expanding its crude oil assets.

 

In 2007, Panther sold its Arkoma assets to Canaan Energy. Since 2010, Panther also sold its California assets and exited the Bakken Play in North Dakota and Montana, selling to Brigham Exploration. In June 2011 the company sold a forty percent interest in its Anadarko Basin project to Linn Energy and opened a field yard and an office in Perryton, Texas. The company grew production to approximately 9,000 barrels of oil per day (BOPD) and over 40 million cubic feet of gas per day (MMCFD).  In 2012, Panther sold its Mississippi Oil Play assists to Sandridge and sold its Anadarko Basin Assets to Midstates Petroleum Company in May of 2013.

 

In October 2013, Panther partnered with Kayne Andersen to pursue additional exploration and development opportunities. From that point Panther acquired assets in the Permian Basin of West Texas known as one of the most productive plays in the United States. Since then we’ve increased production to approximately 3700 barrels of oil per day (BPOD) and 15.5 million cubic feed of gas per day (MMCFD) with more wells coming online every month.

 

 

As a company, Panther makes regular charitable contributions to a variety of organizations including the Iron Gate, Philbrook Museum of Art, Red Cross, and the United Way.

 

Panther is led by a group of visionary leaders and employees with healthy records of success in the Oil and Gas industry including: President and CEO Berry Mullennix; Senior Vice President and COO Roy Grossman; Vice President and Chief Financial Officer Jeff Nevins; Vice President – Business Development, A&D and Land Jim Stone; Vice President – Geology Don Burdick; Vice President – Field Operations Howard Blankenship; and Vice President – Reservoir Engineering Bill Martin.