Panther Energy

What Panther Energy does

Panther Energy Company, LLC is a Tulsa, Oklahoma-based private exploration and production (E&P) company that acquires, develops, and divests oil and gas assets across multiple US unconventional basins. The firm traces its operating lineage to a 1998 partnership between Berry Mullennix and Roy Grossman in the Arkoma Basin, was incorporated in its current form in February 2005, and today operates through Panther Energy Company III, LLC — an entity formed in 2017 after the $863 million divestiture of its Delaware Basin assets to RKI Exploration & Production and Scala Energy Assets.

The company's core product is horizontal drilling of unconventional oil and gas zones, including historically pioneered work in Hartshorne Coal seams using focused gamma tools to maintain wellbore placement in thin (five-foot) zones. Active development today is concentrated in the Louisiana Austin Chalk (~50,000 contiguous net acres, drill-ready for extended laterals) and the Wyoming Powder River Basin, with historical operations also covering the Anadarko, Delaware, Arkoma, Cherokee, and Piceance basins. Leadership is built around a small, deeply experienced technical bench (Mullennix as President/CEO, Grossman as COO, Jeff Nevins as CFO, and VPs in geology, reservoir engineering, land, and operations from prior roles at Devon Energy, Chesapeake, Apache, Chevron, Williams, and others).

Panther's revenue model is upstream commodity production from operated and non-operated working interests, with prices set by the market for crude oil, natural gas, and NGLs. The firm's go-to-market is asset aggregation and development for resale to larger E&P operators, with named transaction counterparties including WPX Energy, Midstates Petroleum, Linn Energy, Brigham Exploration, Sandridge, Eagle Energy, RKI, and Scala Energy. The company is funded primarily by Kayne Anderson Energy Fund VIII, LP, with prior institutional backing from the Southern Ute Indian Tribe Growth Fund and a long-running relationship with Kayne Anderson dating to 2003.

Name

Panther Energy

Legal name

Panther Energy Company, LLC

Website

https://www.pantherenergy.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

Panther Energy is a Tulsa-based private oil and gas exploration and production company that acquires, horizontally drills, and divests unconventional and conventional oil and gas assets across multiple US basins, primarily serving large E&P operators as acquirers of developed properties.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration & Production

NAICS

Oil and Gas Extraction (211), Crude Petroleum Extraction (21112), Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)

akta.pro secondary industries

Coalbed Methane (CBM) / Coal Seam Gas (CSG) (EUAAAAAD), Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG), Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)

Keywords

• Asset acquisition divestiture
• Oil and gas exploration
• Horizontal drilling services
• Upstream production
• Unconventional resource development

Headquarters

HQ city

Tulsa

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Others, Technology or R&D, Marketing or Sales

Revenue model

1. Oil and Gas Production: Revenue generated from production and sale of crude oil, natural gas, and natural gas liquids (NGLs) from operated and non-operated working interests in producing wells

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Panther Energy Company is an upstream Exploration & Production company that acquires and develops oil and gas acreage in US basins (including Austin Chalk in Louisiana, Powder River in Wyoming, Anadarko, Delaware, and Arkoma), drilling horizontal wells in unconventional zones and developing conventional reserves. The company aggregates and develops assets, then divests producing packages to larger E&P operators, with production sold as crude oil, natural gas, and natural gas liquids.

Product overview

Panther Energy Company is an Exploration & Production company that operates as a single integrated oil and gas business offering horizontal drilling and unconventional resource development services. The company focuses on developing projects across multiple US basins including Louisiana (Austin Chalk), Wyoming (Powder River Basin), and historically the Delaware Basin and Anadarko Basin. Their core service offering combines horizontal exploration of unconventional zones with conventional reserves development, supported by a team of experienced petroleum engineers, geologists, and land professionals.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil, Natural Gas, and Natural Gas Liquids Production
• Developed Oil and Gas Asset Packages (A&D Divestitures)

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Southern Ute Indian Tribe (SUIT) Growth FundcoreStrategic or Co-development Partner · 1 February 2005Joined with parent entity of Red Willow Production to form Panther Energy Company, LLC in February 2005, buying out Kayne Anderson's interests. Southern Ute Indian Tribe Growth Fund brought capital partnership for expansion of Anadarko Basin operations.
• Red Willow Production CompanycoreStrategic or Co-development Partner · 1 January 2004Partnered with Red Willow Production Company from Ignacio, Colorado in 2004 to explore Atoka Shale in Lipscomb County, Texas. Red Willow Production is the parent entity that co-founded Panther Energy Company alongside SUIT Growth Fund.

Scale indicators5 records

Recent moves10 records

Expansion highlights4 records

Direct peers

• Red Willow Production Company: Southern Ute-owned E&P operator that co-founded Panther Energy alongside SUIT Growth Fund in 2005 and has historically partnered on Anadarko and other unconventional plays. Directly comparable as a small, capital-disciplined independent focused on horizontal drilling and asset development for divestiture.
• Double Eagle Energy Holdings: Texas-based independent E&P focused on horizontal drilling in the Permian Basin and other unconventional plays; a prior employer of Panther's VP Geology. Operates with a similar asset-aggregation strategy targeting large-package divestitures to majors.
• Brigham Exploration: Independent E&P that acquired Panther's Bakken assets in 2011 before being taken private. Comparable small-cap independent targeting unconventional resource plays with horizontal drilling.
• Midstates Petroleum Company: Independent E&P that acquired Panther's Mid-Continent assets in 2012. Directly comparable as a small independent focused on unconventional oil plays in the Anadarko and other US basins.
• Linn Energy: Independent E&P that purchased Panther's Cleveland Play Anadarko assets in 2011. Comparable as a buyer of long-life, low-risk conventional and unconventional assets in US basins.
• SandRidge Exploration & Production: Independent E&P that acquired Panther's Mid-Continent assets in 2012. Comparable independent focused on horizontal unconventional drilling and asset rotation in US basins.
• Eagle Energy Acquisitions: Private E&P that acquired Panther's Mid-Continent assets in 2012. Comparable small private independent pursuing asset aggregation in US basins.
• RKI Exploration & Production: Private E&P that co-acquired Panther's Delaware Basin assets for $863M in 2017. Comparable private independent operator focused on unconventional horizontal development.

Broad incumbents

• WPX Energy: Mid-cap independent E&P (now part of Devon Energy) that purchased Panther's Delaware Basin assets. Comparable as a larger diversified unconventional operator with broader basin exposure.
• Devon Energy: Large-cap diversified independent E&P active across multiple US basins including the Delaware and Anadarko. A prior employer of Panther's VP Geology and a logical repeat counterparty for asset divestitures.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/panther-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Panther Energy