Henry Resources

What Henry Resources does

Henry Resources LLC is a privately held, family-owned diversified family office headquartered in Midland, Texas, founded in 1969 by Jim Henry and originally known as H & L Consultants. Following the November 2023 divestiture of virtually all operated oil & gas assets to Vital Energy, the company pivoted to a non-operated working interest investment model focused on the Midland and Delaware Basins of the Permian Basin, with operational flexibility provided by a strategic partnership with Oxbow Petroleum, a Midland-based operator staffed by former Henry personnel. A second business segment, Henry TAW, manages a diversified alternative investment portfolio of stocks, bonds, real estate, private equity ventures, bank ownership, and merchant banking, explicitly structured to stabilize returns across commodity price cycles.

The company serves two customer archetypes: private investors and family offices seeking Permian Basin oil & gas exposure alongside an experienced partner with low-leverage, long-cycle principles, and oil & gas operators seeking patient capital partners for Midland and Delaware Basin projects. Revenue is generated through non-operated working interest cash flows and returns from the alternative investment portfolio; specific pricing and investment terms are negotiated deal-by-deal and are not publicly disclosed.

Henry Resources has executed several large liquidity events over its history, including the $600 million sale of approximately 90% of Henry Petroleum to Concho Resources in 2008, a $305 million sale to Linn Energy in 2010, and a $288 million sale of East Cowden to Diamondback in 2014. The 2008 transaction catalyzed the transformation into a diversified family office structure. Today, the organization operates with approximately 51 employees across its headquarters at 3525 Andrews Hwy in Midland, emphasizing a flat, low-turnover culture with 100% paid medical benefits, 401k matching, and 25% of cumulative corporate growth shared with employees. The Henry Foundation, established in 2006, has channeled more than $35 million to nearly 1,000 charitable organizations, reinforcing the family's community footprint in the Permian Basin.

Name

Henry Resources

Legal name

Henry Resources LLC

Website

https://henryresources.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

51–100 employees

Short description

Henry Resources is a privately held, family-owned diversified family office founded in 1969 and headquartered in Midland, Texas. Following its 2023 exit from operated oil & gas, it invests as a non-operated working interest partner in the Permian Basin and manages alternative investments through Henry TAW.

Ownership category

akta.pro rank

Product category

Oil & Gas Investment Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Oil Royalty Traders (6792)

akta.pro industry

PRIMARYFSANALAE

HoldCo / Permanent Capital ETA

Financial & Insurance/Private Equity & Venture Capital/Search Funds / Entrepreneurship Through Acquisition (ETA)

SECONDARYFSAAACAH

Family Wealth & Multi-Generational Planning RIAs (HNW/UHNW-lite)

Financial & Insurance/Asset & Wealth Management/Registered Investment Advisors (RIAs) & Independent Wealth Managers

Keywords

• Oil and gas investments
• Working interest investments
• Permian Basin operations
• Alternative investments
• Family office services

Headquarters

HQ city

Midland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Oil & Gas Non-Operated Working Interests: Henry Resources generates revenue through investing in non-operated oil and gas working interests in the Permian Basin, particularly in the Midland and Delaware Basins. After divesting operated assets to Vital Energy in November 2023, the company pivoted to a non-operated investment model.
2. Alternative Investments: Diversified investment portfolio including stocks, bonds, real estate investments, private equity ventures, bank ownership, and merchant banking. These alternative investments aim to reduce overall risk profile and stabilize returns during fluctuating commodity price cycles.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Henry Resources is a diversified family office that invests as a non-operated working interest partner in Permian Basin oil and gas assets across the Midland and Delaware Basins, using its strategic partnership with Oxbow Petroleum to provide operational flexibility. Its complementary Henry TAW arm manages a diversified alternative investment portfolio of stocks, bonds, real estate, private equity, bank ownership, and merchant banking to reduce commodity-cycle risk.

Product overview

Henry Resources operates as a diversified family office with two primary business segments: (1) Henry Resources Oil & Gas, the Permian Basin-focused oil and gas arm offering non-operated working interest investments in the Midland and Delaware Basins through a strategic partnership with Oxbow Petroleum; and (2) Henry TAW (Alternative Investments), a diversified alternative investment portfolio encompassing stocks, bonds, real estate, private equity, bank ownership, and merchant banking. The company pivoted in November 2023 from operated oil and gas assets to non-operated working interest investments following the sale of its remaining operated properties to Vital Energy.

Differentiator

Problem solved

Functional benefit

Brands

• Henry TAW: Alternative investments arm of the Henry organization, managing stocks, bonds, real estate investments, private equity ventures, bank ownership, and merchant banking.

Products and services

• Henry Resources Oil & Gas Permian Basin-focused oil and gas investment arm offering non-operated working interest investments in the Midland and Delaware Basins, acquired through a strategic partnership with Oxbow Petroleum (a Midland-based operator comprised of many of Henry's former operations staff). Targets private investors and family offices seeking Permian oil & gas exposure with experienced operator support.
• Henry TAW (Alternative Investments) Diversified alternative investment portfolio covering stocks, bonds, real estate investments, private equity ventures, bank ownership, and merchant banking. Managed as a family office vehicle to reduce oil and gas portfolio risk and stabilize returns across commodity price cycles.

Quantifiable outcome

• Successfully drilled 650 Wolfberry wells and discovered what was described as potentially the largest find in Texas in 50 years with 3 billion barrels of recoverable oil

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Oxbow PetroleumcoreStrategic or Co-development Partner · 1 November 2023Henry Resources has a strategic partnership with Oxbow Petroleum, a Midland-based operator comprised of many of Henry's former operations staff. This partnership allows Henry to invest in projects with an operator in place or bring operational capabilities to bear via Oxbow if needed. Following Henry's divestment of operated assets to Vital Energy in November 2023, this partnership provides flexibility for Henry's continued involvement in Permian Basin oil & gas investments.

Scale indicators6 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• Viper Energy: Public Permian-focused non-operated mineral and royalty interest owner; the closest pure-play analog to Henry Resources' current pivot toward non-operated working interest investment in the Midland and Delaware Basins.
• Sitio Royalties: Permian-weighted non-operated mineral and royalty company (formed via merger of Brigham Minerals and Sitio Royalties Corp.); directly comparable to Henry Resources as a non-op working and mineral interest acquirer in the same basins.
• Black Stone Minerals: One of the largest U.S. mineral and royalty owners with significant Permian Basin exposure; mirrors Henry's non-op capital-deployment model and provides useful investor liquidity / public market valuation reference.
• Kimbell Royalty Partners: Public mineral and royalty interest GP/LP that invests across multiple basins including the Permian; comparable to Henry's passive working interest strategy and Henry TAW-style diversified investment approach.
• Texas Pacific Land Corporation: Permian-focused landowner and royalty owner with extensive surface and mineral holdings; highly comparable to Henry Resources as a long-duration, low-operating-leverage Permian mineral and royalty holder.

Broad incumbents

• Diamondback Energy: Large-scale public Permian operator that acquired Henry's East Cowden asset for $288M in 2014 and recently acquired Endeavor Energy; benchmarks operating performance and provides exit-comp context for Henry's working interest portfolio.
• Vital Energy: Permian operator that acquired substantially all of Henry's remaining operated oil and gas assets in November 2023; serves both as a direct counterparty in Henry's pivot and a benchmark Permian operator.
• Endeavor Energy Partners: Private Permian Basin operator focused on the Midland Basin; comparable as a peer Permian operator and a potential joint-venture / non-op partner for Henry-type capital.
• ConocoPhillips (Permian): Major integrated operator with a sizable Permian presence and formerly a JV partner of Henry (Mobil-era joint venture); comparable as a large Permian counterparty for non-op working interest transactions.

Regional players

• Meritage Energy Partners: Private Midland Basin-focused operator similar in scale and heritage to Henry Resources' historical operating footprint; relevant peer for basin-private operating comparisons and non-op acquisition dialogue.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/henry-resources

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Henry Resources