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BLACKBUCK RESOURCES LLC ANNOUNCES KEY ADDITIONS TO EXECUTIVE MANAGEMENT TEAM


BLACKBUCK RESOURCES LLC ANNOUNCES KEY ADDITIONS TO EXECUTIVE MANAGEMENT TEAM
Executive team expanded to support operational excellence and development of growth opportunities

HOUSTON, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Blackbuck Resources LLC (“BBR”), a company focused on designing, building, and operating water infrastructure for the oil and gas industry, announced today it has expanded its executive management team to enhance the company's operational capabilities and support its growth initiatives across its Midland and Delaware Basin platforms. These new additions to the executive team bring with them decades of relevant experience that will help BBR meet its operational and growth goals.

• Barry Portman, Chief Operating Officer. Mr. Portman previously served as Vice President, Production Operations and Permian General Manager of Pioneer Natural Resources (“Pioneer”). He has more than 20 years of oilfield experience in operations, drilling, completions, facilities, maintenance, and integrated service management. In this most recent role, Mr. Portman oversaw over 500% growth in a 5-year timeframe, involving over 700 employees in 4 office locations, production of 450 Mboepd and 700 Mbwpd of produced water from more than 6,500 wells and 1,900 tank batteries. His massive field operation quickly emerged as a peer leader in minimizing operational downtime while maintaining the largest acreage position in the Midland Basin. Prior to joining Pioneer, in addition to being an entrepreneur and business owner, he also held roles at Marathon Oil and Kinder Morgan Inc.

• Jamie Liang, Chief Financial Officer. Mr. Liang has over 17 years of experience in finance, investment banking, and E&P management. Mr. Liang most recently served as a Managing Partner of Battlecat Energy Partners LP (“BCEP”), a Houston-based private equity firm focused on direct investments in the oil and gas sector. Prior to BCEP, Mr. Liang was a co-founder and the Chief Financial Officer of Battlecat Oil & Gas, a private upstream operating company, up until its sale to a public company in 2017. In addition, Mr. Liang previously served as a Director at Bank of America Merrill Lynch and as an Associate at UBS Investment Bank, where he was involved in over $20 billion of transactions.

Justin Love, CEO of BBR noted, “We couldn't be happier with these new additions to our leadership team. Both Barry and Jamie bring with them a deep skillset to help us better serve our customers as we ramp up growth. Recruiting and retaining top talent at all levels of our organization is a cornerstone of BBR's strategy of being an industry leader in oilfield water management solutions.”

About Blackbuck Resources

Based in Houston, with a focus on the Permian Basin, BBR designs, builds, and operates water infrastructure and provides services for the oil and gas industry. The team is comprised of professionals with experience in water disposal and treatment, pipeline management and oil and gas operations. For more information, visit www.blackbuckresources.com.

About Cresta Fund Management

BBR is a portfolio company of Cresta Fund Management (“Cresta”), a Dallas-based investment advisor affiliated with private equity funds focused on middle-market infrastructure investments. Cresta was founded in 2016 by energy infrastructure professionals that understand that executing on successful value add investment opportunities requires a unique perspective and a partnership mindset. For more information, please visit: www.crestafunds.com.



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