BWAB-Sovereign Energy Group LLC ("BSEG"), and the company lineages it is built from, make up a long-standing Denver-based independent energy company engaged in the evaluation, acquisition, operation and development of strategic, high growth energy projects. We own, operate or hold non-operated interests in approximately 2,000 wells throughout the U.S., and focus primarily on reserve acquisitions, enhancements to production, and low-risk development drilling. We target projects we believe provide the best opportunity for repeatable success, meaningful production and strong reserve growth.
The Company’s seasoned management team, led by co-founders Thomas Metzger and Steven Roitman, has over 220 years combined of domestic experience and an extensive track record of more than $1 Billion of successful ventures in the oil and gas industry. BSEG's team is made up of oil and gas operators and professionals who are experts in reservoir engineering, geology, production management, finance and accounting. We utilize our collective strengths, experiences and industry relationships to develop top tier energy projects that generate significant and sustainable economic growth for our owners and partners.
THOMAS S. METZGER – CHAIRMAN & COO
Thomas Metzger, co-founder, has 35 years of diversified oil and gas experience throughout the U.S., both onshore and offshore. He has experience raising drilling and acquisition capital, managing investor energy portfolios, as well as finding, exploiting, and operating oil and gas properties. Mr. Metzger previously formed Sovereign Energy LLC, a privately held start up oil and gas company in 1993. Sovereign found, produced, and sold over $100 Million in oil and gas properties in the Rocky Mountain Region.
From 1991-1993, Mr. Metzger was Vice President of Exploration for Chippewa Resources Corporation, which included the acquisition of 39 MMBOE (offshore California). Prior to Chippewa, Mr. Metzger was a petroleum geologist with BTA Oil Producers developing exploration and development projects in the Rocky Mountain and Mid-Continent Regions. From 1981-1988 Mr. Metzger served as Petroleum Geologist and then as Exploration/Production Co-Manager of the Gary-Williams Company (now Gary-Williams Energy Corp.). Mr. Metzger received a Bachelor's Degree in the Geological Sciences from the University of Colorado in 1980.
STEVEN A. ROITMAN – PRESIDENT & CEO
Steven Roitman, co-founder, has 36 years of energy industry experience. Mr. Roitman began his career in 1980 with Petro-Lewis while obtaining his Bachelor's degree. Mr. Roitman received his Bachelor of Finance from the University of Denver in 1982. Throughout his career at Petro-Lewis he held a variety of positions in the finance and operations departments. In 1990, he joined BWAB Incorporated and in 1992 as Vice-Chairman, he acquired the company from its founders.
BWAB remains in the business of finding, evaluating, negotiating and acquiring proven oil and gas assets throughout the United States, both onshore and offshore. In addition to being BSEG’s President and CEO, Mr. Roitman continues as BWAB’s Chief Executive Officer and combined has a long and distinguished history of generating significant results ($1 billion plus) for its oil and gas investors and partners.
Andrew S. Peterson - Vice President of Operations
Andy Peterson, a Registered Professional Engineer, has 41 years of oil and gas experience. He began his career in the petroleum industry after graduating in 1975 with a B.A. in Biology from Williams College and in 1979 from the Colorado School of Mines with a degree in petroleum engineering. From 1975 to 1989, Mr. Peterson worked for Husky Oil Company, Snyder Oil Company, and Skaer Enterprises Inc. in a number of positions from field engineer, petroleum engineer to division production manager.
In 1989 Mr. Peterson formed his own consulting company, Peterson Energy Management, Inc. ("PEM"), which over the next 23 years became one of the most respected drilling, completion, workover, production, and project management companies in the Rocky Mountain Region. Mr. Peterson sold PEM to Integrated Petroleum Technologies Inc. ("IPT") in 2012, forming a petroleum engineering service company with the most vertically integrated solutions in the industry. In addition to being BSEG's Vice President of Operations, Mr. Peterson continues as President of Peterson Energy Operating Inc., a bonded operator in numerous states, and Sr. Vice President at IPT where he holds an advisory role on business development and special projects.
Kent Lina - Vice President of Reservoir Engineering
A Registered Professional Engineer, Mr. Lina is a 35-year oil and gas veteran with past affiliations, notably Amoco and Mesa Petroleum. Mr. Lina has 25 years of experience specific to reserve evaluations, most recently as the Sr. Vice President of Reservoir Engineering for Delta Petroleum Corporation where he was responsible for preparing SEC reserve reports for 18 years. Starting in 2002, for 6 years, he personally evaluated and managed all acquisitions to grow Delta from 100 wells located in a few states to over 1200 wells in 16 states.
Mr. Lina, in addition to being BSEG's Vice President of Reservoir Engineering, has worked as an independent consultant to several Denver oil and gas acquisition companies. Mr. Lina received a Bachelor of Science in Civil Engineering from the University of Missouri - Rolla (Missouri School of Mines).
Robert N. Sheard -Vice President of Business development & Investor finance
Robert Sheard was educated in England and South Africa, obtaining a Bachelor of Science with Honors in Geology and Oceanography in 1984. From 1984 until 1994 Mr. Sheard worked for major oil companies including Shell and BP on exploration and oilfield construction projects worldwide. In 1994 he joined Lazards Investment Bank in London as Vice President of a U.S. focused oil and gas investment trust. Between 1996 and 1997 Mr. Sheard worked for the bank on early oil and gas financing activities in Russia and from 1997 to 2000 he worked as a consultant advising a major U.S. company on a multi-billion dollar Joint Venture with Gazprom.
In 2000 Mr. Sheard as co-founder of Mintley Investments, a private investment company which together with its industry and financial partners (including Vitol, Lundin Group, and Credit Suisse), went on to acquire more than 15 oil and gas fields in the Former Soviet Union totaling more than $1 billion of investment activity.
Since 2006, Rob and his partners have continued investing in oil and gas projects internationally, primarily focused on the Caspian Region of Russia, where they have acquired oil and gas fields and infrastructure. In 2005 they partnered with the Lundin Group and their then start-up vehicle for Russia, Valkyries Petroleum Corporation, listed on the Toronto Stock Exchange. In early 2006, Mr. Sheard and his partners sold their assets, which included onshore fields and 70% of the Lagansky Offshore Caspian block, for shares in the company, thereby becoming the second largest shareholders after the Lundin family. In 2007 Valkyries Petroleum itself was sold for $770 million to Lundin Petroleum. In 2008, Lundin drilled a world class oil discovery on the block and in 2009 the Principals sold their retained 30% carried interest though Lundin Petroleum to Gunvor, a large Russian Oil Trader.
In 2010 Mr. Sheard and partners founded Astrakhan Oil Corporation ("AOC") which today owns 8 oil and gas exploration licenses totaling over 4,000 sq km in the Astrakhan Region of Southern Russia, with proven and probable oil reserves of 300 million barrels. Since 2010 Mr. Sheard and partners have developed AOC into the largest producer and acreage owner in the region, raising $175 million from world class financial institutions including the pre-eminent global UAE-Sovereign Wealth Fund based in Abu Dhabi.
Mr. Sheard joins the BSEG Team to bring his extensive global energy finance and project development experience, combined with his strategic business relationships to aid in BSEG's concentrated focus on distressed oil and gas acquisition opportunities currently expanding in the North American energy sector.
WILLIAM MILLS II – LAND MANAGER
William Mills is the land manager for BSEG and for BWAB Incorporated. Mr. Mills entered the oil & gas industry with Texaco, Inc. in 1972 after graduation from Washburn University School of Law. His undergraduate degree is in Business Administration from the University of Kansas. In 1981 he left Texaco as manager of the title section to accept his position with BWAB Incorporated as Land Manager. Since that time he has successfully managed various Due Diligence projects for BWAB, BSEG and other oil & gas companies for acquisitions totaling over $100 million.
LAURIE WILLIAMS – ACCOUNTING MANAGER
Laurie Williams came on board as the Accounting Manager in May of 2014. She has been in the oil and gas industry for 35 years. Laurie graduated from Parks College in Denver, Colorado with an Accounting degree in 1979. She started her career with a small independent oil and gas company and this opportunity allowed her to gain experience in all areas of the business. Over the years, she has focused her knowledge on the accounting and financial areas.
Brooke COLLINS – OFFICE MANAGER
Brooke Collins is the Office Manager. She joined BWAB-Sovereign Energy Group LLC in 2017 and is the newest member of the team. Brooke brings over 10 years of administrative expertise and previously worked as an Office Manager for a large civil engineering firm in the Denver area. Brooke earned a Bachelor's Degree in Marketing from Metropolitan State University of Denver in 2013.
Primary 3rd party consultants
PETROLEUM RESERVES CONSULTANTS
- Ryder Scott Petroleum Consultants - Ryder Scott evaluates oil and gas properties and independently certifies petroleum reserves quantities in the U.S. and internationally. Founded in 1937, Ryder Scott is one of the largest, oldest, and most respected reservoir-evaluation consulting firms in the industry.
PETROLEUM AND COMPLETIONS CONSULTANTS
- Integrated Petroleum Technologies Inc. ("IPT") - IPT is a premier provider of petroleum consulting services. In major plays across North America, IPT employs its proprietary database, containing relevant historical information from a total of over 60,000 successful well completions, to develop Pivotal Solutions that drive high performance results.
TAX ACCOUNTANTS / ADVISORS
- Eide Bailly LLP - Eide Bailly is a top 25 CPA firm in the U.S. providing accounting, financial, tax, risk advisory, and transaction services across a broad spectrum of industries including oil and gas.
LEGAL
- Bryan Cave, LLP
- Brownstein Hyatt Farber Schreck, LLP
- Barry W. Spector, Denver