Billy is the founder and Managing Partner of Pearl Energy Investments and manages the firm. He currently sits on the board of most Pearl portfolio companies including Permian Resources, SLANT Energy, Infinity Natural Resources, and Spring Valley Acquisition Corp.
Before founding Pearl, Billy served as Co-Managing Partner of Natural Gas Partners (NGP) for almost 20 years. As Managing Partner, he co-managed NGP’s investment portfolio and played an active role in the full range of NGP’s investment process. In addition, Billy gained valuable investment experience working for Rainwater, Inc. and Hicks, Muse, Tate and Furst, Inc. He also worked as an analyst in the investment banking divisions of Bear Stearns & Co. and BT Securities Corporation.
On this episode, Chris and Billy discuss:
- Running due diligence on a fund and operator
- Predicting the potential success of a company you acquire
- How to be a great capital partner
- How the industry has changed over 30 years
- The future of PE-backed Oil and Gas companies
- Fundraising, hiring, and building relationships
Links
Pearl Energy Investments - https://www.pearl-energy.com/
Billy on LinkedIn - https://www.linkedin.com/in/billyquinn5/
Topics:
00:00:00 - Intro
00:01:02 - Billy’s career in Oil and Gas PE
00:08:28 - Finding equilibrium in owning oil and buying oil
00:11:55- Running due diligence on a fund and an operator
00:17:48- Backing Permian Resources
00:22:56 - The importance of being close to the asset you operate
00:23:56- How can you predict the potential success of a company you acquire?
00:28:11 - How to know you’re being a good partner
00:32:09 - Experiences during Covid
00:39:48 - Leaving NGP and forming Pearl
00:49:19 - How has the industry changed over 30 years
00:53:57 - What’s the best price for oil?
00:54:59 - Consolidation in the industry
00:56:48 - The Future for PE-backed Oil and Gas Companies
00:59:24 - Is capital coming back into the industry?
01:04:29 - What’s your strategy around fundraising?
01:13:35 - How do you think about hiring and relationships?
01:14:59 - Billy’s love for MMA
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