Midland, Texas, January 2025
Henry Resources and Oxbow Natural Resources today announced the launch of Arete Creek Resources, a new upstream E&P, funded with equity commitments anchored by Henry Resources. Henry's financial commitment and added support provide a solid foundation for the startup.
The Arete Creek management team brings together seasoned professionals from Henry Resources and Oxbow Petroleum, combining decades of successful experience in the Permian Basin. With a focus on technical expertise, operational agility, and cost-effectiveness, Arete Creek aims to become the partner of choice in the Midland Basin and the broader Permian region.
"We are incredibly honored to receive this vote of confidence from Henry. Building on Henry's 55 years of excellence in the Permian, we plan to leverage the knowledge, relationships, and technical advancements that have been key to its success."
"As individual contributors, the Arete Creek leadership brings a remarkable amount of experience and technical expertise in the Permian Basin to the equation. They also have an impressive track record in acquisition and development together as a team at Henry. We are excited to support Arete Creek and help them build another successful Henry-backed company."
About Arete Creek Resources
Arete Creek is an upstream oil & gas startup built around the former Henry Resources operations team led by Patrick Cohorn and Blake Pitcock from Henry Resources, as well as Blake Braun and Will Rutherford from Oxbow Petroleum. The company intends to focus primarily on the Midland Basin but can take advantage of opportunities anywhere in the Permian. Henry Resources is the company's primary equity sponsor. Arete Creek seeks additional equity investment from long-term, value-based investors interested in capital investment alongside Henry.
About Henry Resources
Over the past 55 years, the Henry name has been integral to the storied history of oil & gas development in the Permian Basin. Beginning as a Spraberry expert in 1969, Jim Henry built a technically focused organization that would ultimately be a first mover, recognizing and exploiting the Wolfberry play in the early 2000s. Henry has been in business and located in Midland, Texas, since its founding in 1969. Until 2008, the Company focused primarily on investing in operated oil and gas assets. With several significant liquidity events in 2008 and 2010, the Henry family diversified investments into a broader portfolio.
Since then, the Henry organization has expanded into a diversified family office combining upstream oil & gas operated assets and traditional financial investments. In November 2023, Henry divested most of its operated oil & gas assets to Vital Energy and turned its oil & gas investment focus to growing a non-operated position, making the prospect of sponsoring a team of current and former Henry employees inspiring.