Heritage Energy

What Heritage Energy does

Heritage Energy, LLC is a privately held, Tulsa-based upstream oil and gas exploration and production company operating in the Bakken Shale of North Dakota. The firm follows an integrated Acquire-Develop-Produce model focused on unconventional reservoir assets, with a stated strategy of building concentrated, consolidated, and operated leasehold positions that deliver scale and consistent economic returns. Its operational differentiation rests on longer lateral development, modern completion design, and right-sized completions intended to optimize estimated ultimate recovery (EUR) and return on investment, supported by cost discipline at the well level.

The company is led by a three-person executive team: CEO Joshua C. Cornell, a 17-year landman with prior positions at Chesapeake Energy, Apache Corp., Atalaya Resources, and Panther Energy; COO Bill Diggs, a 33-year petroleum engineer with prior operations and engineering leadership at Newfield Exploration, SK Plymouth, and Williams Technologies; and Executive Consultant Paul Richardson, a geologist with prior roles at Devon Energy, SM Energy, Double Eagle, and Panther Energy. Heritage has 1–10 employees and operates from a single office in Tulsa, Oklahoma.

Its revenue model is conventional upstream commodity sales: oil and natural gas are sold into commodity markets through standard industry distribution channels, with pricing tied to benchmark crude and natural gas prices. The firm has no disclosed funding rounds, no public financial reporting, no listed customers or offtake agreements, and no partnerships or technology integrations in the source material. Heritage's website is a basic GoDaddy-built site, and the firm presents itself as a growth-stage operator in the acreage-assembly and development phase of the Bakken rather than a mature producing entity at scale.

Name

Heritage Energy

Legal name

Heritage Energy, LLC

Website

https://heritageoperating.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Heritage Energy is a privately held Tulsa-based upstream oil and gas company focused on acquiring, developing, and producing unconventional shale assets in the Bakken Shale of North Dakota using modern drilling and completion techniques.

Ownership category

akta.pro rank

Headquarters

HQ city

Tulsa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D

Core offering

Heritage Energy is an upstream oil and gas company that explores, develops, and produces oil and natural gas from unconventional shale assets, with a focus on the Bakken Shale region. The company follows an integrated Acquire-Develop-Produce business model, specializing in the organic acquisition of unconventional reservoir assets and building concentrated, operated leasehold positions using longer lateral development and modern completion designs.

Product overview

Heritage Energy operates as a single unified oil and gas exploration and production company focused on unconventional shale assets. The company follows an integrated Acquire-Develop-Produce business model, specializing in the Bakken Shale region with longer lateral development and modern completion design to optimize EURs and return on investment.

Differentiator

Problem solved

Functional benefit

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves3 records

Expansion highlights3 records

Direct peers

• Zavanna LLC: Zavanna is a privately-held, Bakken-focused operator building operated horizontal development positions, making it one of the closest small-cap, private peers to Heritage in scale, basin, and strategy.
• Oasis Petroleum: Oasis Petroleum is a Bakken and Williston Basin-focused E&P that emerged from restructuring as a private company, making it a directly comparable peer in scale, basin focus, and unconventional development strategy.
• Continental Resources: Continental Resources is the largest pure-play Bakken operator with a long history of horizontal development and leasehold consolidation. It is the closest large-scale analog to Heritage's stated Acquire-Develop-Produce strategy in the same basin.
• Murphy Oil: Murphy Oil maintains an operated Eagle Ford and Bakken position with a multi-basin unconventional portfolio, comparable to Heritage's shale-focused upstream model.
• Hess Corporation: Hess operates a major concentrated Bakken position with multi-well pad development and long laterals, closely mirroring Heritage's longer-lateral, modern-completion approach in the same play.
• Petro-Hunt: Petro-Hunt is a privately-held, family-owned E&P with significant Bakken and Williston Basin operations, directly comparable to Heritage as a private operator using an acquire-develop-produce model in the same basin.
• Marathon Oil: Marathon Oil operates a substantial Bakken position alongside Eagle Ford and other unconventional assets, and its operated-leasehold development approach is structurally similar to Heritage's strategy.
• Whiting Petroleum (now private under Oasis): Whiting was a Bakken-focused E&P employing long-lateral drilling and modern completions, making it a directly comparable pure-play operator to Heritage in the same basin before its take-private.

Broad incumbents

• EOG Resources: EOG is the largest U.S. shale operator across multiple basins and a benchmark for modern completion design and long-lateral development, the exact techniques Heritage is deploying in the Bakken.
• Devon Energy: Devon Energy is a major multi-basin unconventional operator and one of the past employers of Heritage's consulting geologist, representing the broader incumbent class Heritage would compete with for capital and talent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Customer concentration

• LinkedInlinkedin.com/company/heritage-energy-operating-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Heritage Energy