We expect to develop our pipeline of opportunities for a potential business combination through our team’s substantial experience, deep relationships and extensive network of corporate executives, board members, private equity firms, family offices, investment bankers, lawyers, investors, lenders and other service providers to the industry. By utilizing this approach in the past, members of our team have helped build large public and private platforms in the energy space.
Brad Morse, Chief Executive Officer & Director
Mr. Morse is the Founder and President of Fulcrum Energy Capital Funds, where he oversees Fulcrum’s efforts in sourcing investments, transaction negotiation and execution, monitoring of active portfolio companies and firm management and strategy. Prior to founding Fulcrum, Mr. Morse was the principal energy investment professional at Equity Group Investments (EGI), Sam Zell’s Chicago-based private investment firm. At EGI, Mr. Morse monitored existing investments and closed over $500 million of private equity and credit investments on behalf of EGI and the Zell Credit Opportunities Fund (ZCOF), a $1.2 billion dollar private equity fund predominately consisting of third-party limited partner commitments. Mr. Morse served on the board of directors of several Zell-related portfolio companies at EGI and ZCOF.
Grant Farn, Chief Financial Officer
Mr. Farn agreed to serve as the Chief Financial Officer of Gondola Resources, LLC beginning October 2021. Mr. Farn has 22+ years of experience in energy and finance and is a CFA designation holder. Prior to joining Gondola, Mr. Farn served as the Chief Financial Officer for Polaris Production Partners LLC, Ascent Energy, LLC and Cascade Petroleum LLC. In those roles he was integral to fundraising, management, acquisitions and divestitures; Mr. Farn developed and implemented successful budgeting, forecasting, financial modeling and reporting tools.
Daniel Silverman, Chief Operating Officer & Director
Mr. Silverman is a Managing Director at Fulcrum Energy Capital Funds and has over 30 years of experience in the oil and gas industry with the majority spent in acquisitions and senior management roles. Silverman was co-lead in the re-development of Whittier Energy (a small, privately owned non-operator beforehand) that began in 2002. Through his role as Executive Vice President and COO, Whittier began a period of rapid growth from 1,200 mcfepd of non-operated net production to over 16 mmcfed when the company was sold 5 years later in 2007 for $192 million to Sterling Energy (UK). He was responsible for evaluating and closing of 8 negotiated transactions totaling over $85 million as well as a reverse merger into a micro-cap public E&P company in 2003. From April 1999 to April 2002, he was involved with 2 small-cap E&P companies. From 1995 to 1999, he was Managing Director of Acquisitions & Divestitures and a member of the Board of Directors of Torch Energy Advisors. He managed the completion of Nuevo’s $492 million purchase of UNOCAL’s upstream California assets and Bellwether’s $182 million purchase of the Torch managed institutional partnerships. He oversaw all aspects of property and well acquisitions, which include evaluating properties, projecting financials on potential transactions, negotiating and closing transactions.
Ryan Sullivan, Senior Vice President & Secretary
Ryan Sullivan is a Director at Fulcrum Energy Capital Funds. Ryan Sullivan has over 10 years of experience working in the oil and gas industry in direct land and A&D roles, along with business development experience alongside executives from top oil and gas companies. Most recently, Ryan has served as Founding Member of Arbor Resources, an oil and gas consulting firm which has generated and successfully marketed over $80MM in oil and gas properties across the Mid-Continent and Rockies regions including non-op, minerals, and operated leasehold positions. Prior to Arbor, Ryan led the Land and Business Development group at Nighthawk Energy. He directed all land related transactions and contracts, covering an acreage position of 180,000 net acres and land related production obligations of 2,000 bopd. Prior to Nighthawk, he was in the Land and New Ventures/A&D group at Terracore, a Denver based E&P company, with holdings across the Michigan and Bighorn basins exceeding 275,000 net acres.
Doug Sandridge, Vice President
Doug Sandridge has over 40 years experience in petroleum land management, regulatory compliance and oil and gas marketing. Doug is a Vice President of Fulcrum Energy Capital Funds where he principally manages land, regulatory, environmental and community engagement activities relating to Gondola Resources, LLC’s oil and gas assets located in the North Park Basin, Jackson County, Colorado. Prior to joining Fulcrum, Doug was an independent consultant for SandRidge Exploration & Production Company, LLC, focused on their North Park Colorado properties. Doug was previously Vice President of Land and a partner in EE3 LLC. Prior to EE3, Doug worked for Forest Oil Corporation, Ellora Energy, LLC, Burk Royalty Co., Ltd., Cobra Oil & Gas Corporation and Petro-Lewis Corporation.
Conor Hess, Vice President
Conor is a Vice President at Fulcrum Energy Capital Funds, and is responsible for evaluating new investment opportunities, monitoring existing investments, and portfolio company related operational work. Prior to joining Fulcrum, Conor was an Assistant Vice President in the Energy Credit Resolution Group at Wells Fargo, where he assisted in the management and restructuring of a portfolio of distressed corporate energy credits, primarily in the upstream and oilfield services sub-sectors. Before moving to the Energy Credit Resolution Group, Conor spent time in energy corporate banking at Wells Fargo, where he covered a portfolio of non-investment grade energy credits, ranging from private equity backed, single basin operators to large-cap, diversified companies in the upstream, midstream and downstream sub-sectors.
Board of Directors
Chris Wright serves as Chief Executive Officer and Chairman of the Board of Liberty Oilfield Services (NYSE: LBRT). Additionally, Chris founded and serves as Executive Chairman of Liberty Resources, a Bakken-focused E&P company and Liberty Midstream Solutions. He has had a lifelong passion for energy and its role in human life. He has spoken on energy to the UK House of Lords, the States Attorneys General, Federal and State Judges, debated the merits of the shale revolution on TV and given over 100 talks.
Charles Gwirtsman has approximately 35 years of experience in private equity, mergers and acquisitions, buyouts and corporate finance. Since 1996, Gwirtsman has been a Co-Founder and Managing Director at KRG Capital Partners. Gwirtsman has served as a member of the Firm’s Investment Committee since its inception and as a lead Managing Director, Chairman and a member of the Board of Directors for many of its portfolio companies including 4 energy related companies. Over its 25-year history, KRG Capital has invested in 46 platform companies and has done 213 add-on acquisitions, with most acquisitions being from entrepreneurially owned businesses. KRG Capital has raised $4.7 billion of equity from four institutional private equity funds and from co-investments by its Limited Partners.
Cary Steinbeck is a Managing Director at Shea Ventures, an investment firm that invests with a broad mandate across sectors and securities throughout the capital structure. Cary oversees sourcing, transaction negotiation and structuring, and portfolio company monitoring typically done as a member of the Board of Directors. Prior to Shea Ventures, Cary held similar positions with Oakmont Corporation and Capricorn Investment Group, both private investment firms with similarly broad mandates. Steinbeck is currently a Board Member at Liberty Oilfield Services (NYSE: LBRT), Liberty Resources, Proppant Express Logistics and US Ceramics, as well as several portfolio companies of Shea Ventures.
Mr. Maor joined Isramco Negev 2, LP (TASE: ISRA.L) as CEO in the beginning of the 2nd quarter of 2021. Isramco is the largest shareholder in the Tamar gas field (10 TCF) located in the Mediterranean Sea off the coast of Israel. Isramco additionally owns other offshore permits in Israel. In the last 10 years Mr. Maor was the Vice Chairman and CEO of Modiin Energy Limited Partnership (TASE:MDIN-L). In his role at Modiin Energy Mr. Maor led Modiin’s participation in few off shore projects in Israel including the Shimshon discovery. Since 2016 Mr. Maor established Modiin’s US portfolio with the development of few on shore projects in Kern County (CA) and recently an acquisition of NPB field in Colorado.
Daniel Posner is the Co-Chief Investment Officer and Co-Founder of Rensop Investment Group. Most recently, Mr. Posner was the Chief Investment Officer and Founder of AB Energy Opportunities, an affiliate of AllianceBernstein. Prior to assuming this role, he served as President and Chief Investment Officer of GC Synexus, the event driven credit hedge fund manager of Golub Capital, and led the firm’s Opportunistic Credit business. Previously, Mr. Posner was a Managing Director of D. E. Shaw & Co., where he was the global head of the firm’s Credit Opportunities and Distressed Investing Unit as well as head of the firm’s Portfolio Acquisition Unit. He also served on the investment committee of the firm’s Global Direct Capital activities. During his nine years at the firm, he served on numerous boards and restructuring committees. Prior to joining D. E. Shaw, Mr. Posner was a Senior Vice President at Intermarket Corporation, a hedge fund manager specializing in event driven strategies. His earlier professional experience included distressed investment and advisory roles at UBS O’Connor, Deloitte Consulting Group, and Goldman Sachs.