Big 2 Energy Report: The Oilfield A-List 2012
By: Mycah Glover
Updated: February 3, 2012
Midland - In 2010, Big 2 brought you a special series of Energy Reports called the Oilfield A-list. It featured some of the most successful and interesting oilmen in the basin. Now, it's back by popular demand. We'll be featuring our 2012 Oilfield "A-listers" every Thursday night at 10pm in February.
Our first "A-lister" of 2012 is a man who has helped build one of the fastest growing oil companies in the United States. Tim Leach currently serves as the CEO of Concho Resources.
It all started in 1997. "We started with private equity. We built a company using the same business strategy that we use today. We focused on the Permian Basin. We focused on buying properties. We focused on buying drilling programs. With the private equity we were able to build it up a certain size and then you had to sell it," says Leach.
The first Concho sold in 2001 to Devon Energy. Using the same strategy, they built up the second Concho and sold again in 2004 to Chesapeake.
At this point, Leach says they were ready to do something a little bit different. "We started with private equity. We got a base of properties through a series of acquisitions we were able to take public in 2007. "
Concho currently has 600 employees and it's growing so fast, they're renovating two buildings in downtown midland to house all of their employees. Toffee McAlister is one of them. She currently serves Concho's director of investor relations. "If you compare Concho to the S&P 500, we've actually grown more than any other company listed on the S&P 500. So it's just been a whirlwind of crazy growth. It's been very, very exciting," says McAlister.
While Leach's strategies have clearly helped build a successful company, this "a-lister" is unique in the fact that he's a little modest when it comes to talking about his own accomplishments. But employees like McAlister can't help but say it for him. With a big smile, she said, "He told me I couldn't talk about him, but Tim has been ...is a great mentor for the rest of the company, and I truly think that his leadership filtered down the company and has made it an amazing place to work."
Our first "A-lister" of 2012 is a man who has helped build one of the fastest growing oil companies in the United States. Tim Leach currently serves as the CEO of Concho Resources.
It all started in 1997. "We started with private equity. We built a company using the same business strategy that we use today. We focused on the Permian Basin. We focused on buying properties. We focused on buying drilling programs. With the private equity we were able to build it up a certain size and then you had to sell it," says Leach.
The first Concho sold in 2001 to Devon Energy. Using the same strategy, they built up the second Concho and sold again in 2004 to Chesapeake.
At this point, Leach says they were ready to do something a little bit different. "We started with private equity. We got a base of properties through a series of acquisitions we were able to take public in 2007. "
Concho currently has 600 employees and it's growing so fast, they're renovating two buildings in downtown midland to house all of their employees. Toffee McAlister is one of them. She currently serves Concho's director of investor relations. "If you compare Concho to the S&P 500, we've actually grown more than any other company listed on the S&P 500. So it's just been a whirlwind of crazy growth. It's been very, very exciting," says McAlister.
While Leach's strategies have clearly helped build a successful company, this "a-lister" is unique in the fact that he's a little modest when it comes to talking about his own accomplishments. But employees like McAlister can't help but say it for him. With a big smile, she said, "He told me I couldn't talk about him, but Tim has been ...is a great mentor for the rest of the company, and I truly think that his leadership filtered down the company and has made it an amazing place to work."
