Four high school friends in Albany, Texas, with four personalities and four disciplines, banded together in 1986 to form a … <\/p>\n
Four high school friends in Albany, Texas, with four personalities and four disciplines, banded together in 1986 to form a new oil and gas producing company, Momentum Operating Company, Inc. Each of the owners brought to the table a strong educational background and experiences.<\/p>\n
Mike Parsons, president, is a graduate of McMurry University and Southern Methodist University with a degree in finance and accounting. Vice president Don Tidwell attended the petroleum engineering school at Texas A&M University. Momentum\u2019s treasurer, Lynn Tidwell Neff, is a business graduate of Southwest\u00a0Texas State University (now Texas State University), and company secretary Bob Tidwell has a business degree from the same university. Their combined work backgrounds include banking, oil and gas production, oil field services, and teaching.<\/p>\n
\u201cBut all of those diplomas don\u2019t replace field experience,\u201d Parsons said. \u201cAs owners, we have a \u2018nuts and bolts,\u2019 hands-on mentality. All of us have learned the business from top to bottom. We have graduate degrees in roustabouting, pumping and well-servicing, and we believe that is the key to our\u00a0success.<\/p>\n
\u201cWe elected to name our company Momentum due to the fact that we reflected on where we had been and where we wanted to be in the future and believed that with the good Lord\u2019s help we had the \u2018momentum\u2019 to accomplish some of these things,\u201d Parsons said.<\/p>\n
Momentum is based in its hometown of Albany, Texas, population 2,500 people. \u201cWe run a lean ship with 15 tremendous, dedicated employees,\u201d Parsons said. The company, which is 100 percent owned by its four founders, began purchasing and developing waterflood projects in West Central Texas in 1986 and moved into drilling and production. Future plans include deeper horizontal drilling activity in the area.<\/p>\n
In 1990 Momentum completed its first acquisition in the Panhandle West field from Texaco. Today the company has approximately 200 wells in the Panhandle West field and 250-to-300 in West Central Texas.<\/p>\n
\u201cSince we don\u2019t rely on investors to acquire our leases, we believe it helps our company to move more rapidly and productively,\u201d Parsons added.<\/p>\n
Momentum has had a great deal of success with its acquisitions in the Texas Panhandle. \u201cWe really like operating in the Texas Panhandle,\u201d he explained. \u201cWe believe there is an opportunity for producers who are low-cost operators, work hard and take care of their business.\u201d<\/p>\n
GPM Gas Corp. gathers and processes most of Momentum\u2019s gas in the Texas Panhandle. \u201cOver the last 10 years Momentum has both sold and marketed gas to 25-to-30 different companies,\u201d Parsons said. \u201cGPM is superior both in pricing and services in the field. GPM far exceeds all other companies in honesty, dependability and integrity. Almost 99 percent of our gas goes to GPM in the Texas Panhandle \u2013 100 percent of it would if GPM had pipelines in all of our areas.<\/p>\n
\u201cGPM employees in the Borger office \u2013 Cheryl Ogilvie, Gary Thompson, producer settlements employee Karen Ladd in Bartlesville and Kevin Lillard, one of your field personnel \u2013 have been extremely helpful to us and responsive to our needs,\u201d Parsons continued. \u201cField personnel, such as Leroy McCall, are always going above and beyond the call of duty.<\/p>\n
\u201cGPM is just a class company,\u201d he added. \u201cYou ask someone a question, they give you a straight answer. If they don\u2019t know the answer, they get right back to you. I mention this because it is unusual today because most major companies don\u2019t do that.<\/p>\n
\u201cThe minute we buy a lease in the Texas Panhandle, with GPM I can be on pay status, be paid correctly and accurately, on time, with no measurement problems during the first month. Our experience reflects the fact that we don\u2019t get this kind of response from other companies. It\u2019s real refreshing.\u201d<\/p>\n
Momentum\u2019s plans for the future are to push for high quality, long-life reserve acquisitions in the core areas in West Central Texas and the Texas Panhandle. The owners also are looking at possible acquisitions in West Texas and New Mexico.<\/p>\n
\u201cIf the window closes in the acquisitions market or we feel like there aren\u2019t sufficient opportunities in the future, we\u2019ll develop and drill additional wells in our core areas with a primary focus on the Texas Panhandle,\u201d Parsons said.<\/p>\n
The company also plans to make use of GPM\u2019s field information and technology services. GPM is currently building its infrastructure in Momentum\u2019s producing areas, and the service will be available to the company by yearend. \u201cWe will have instant access to production information,\u201d Parsons said. \u201cWe\u2019ll be able\u00a0to respond more quickly and take advantage of more consistent run times, and it will give our field personnel critical information in order to do a better job.\u201d<\/p>\n
Like many successful entrepreneurs, dedication isn\u2019t just to work. These four owners are active participants in the lives of their families, communities and churches. They have a total of 13 children and serve their communities through participation in civic matters, including activities such as the hospital district board and city council.<\/p>\n
GPM Magazine, volume 4, number 4, used by permission.<\/em><\/p>","protected":false},"excerpt":{"rendered":" Four high school friends in Albany, Texas, with four personalities and four disciplines, banded together in 1986 to form a … <\/p>\n
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