We create value from proven, mature energy assets.

About

Promise Energy Holdings is a Houston-based, private energy company engaged in the acquisition, exploration, and development of oil and natural gas. Established in 2014 by co-founders Don Schofield and Don Hays, the primary mission of the company is to acquire proven, mature oil and gas fields in the USA to recover remaining reserves.

Promise Energy Holdings assets are acquired based on their suitability for implementation of new, modern drilling technologies & completion techniques. Currently, the company is focused on and oil and gas projects in Texas and is exploring several additional opportunities in the Gulf Coast Region.

Mission/Vision

Our Mission

We create value from proven, mature energy assets.

Our Vision

To be trusted stewards of valuable natural resources and the trusted business partner of choice.

Safety

We do it safely, or we don’t do it.​

Environment

We leave it better than we found it.​

Ethics

We always do the right thing.​

Innovation

We do it better.​

Community​

We earn respect every day.​

Teamwork​

We are in this together.​

Team

Promise Energy Holdings has a tenured management team with vast energy industry experience.

 

The resource management team has impressive 35 years average experience, spanning the following roles in the energy sector: CEO, CFO, COO, CAO, Business Development, Operations, Petroleum Geology and Engineering, Investment Banking and Investor Relations, Real Estate, Legal, Marketing, Communications, Government and Stakeholder Relations and Media Relations.

Promise Energy Holdings technical team brings decades of experience with Major operators and focuses on subsurface, 2D and 3D driven evaluations, engineering reports, and a vast network of industry professionals. 

Don Schofield
Don Schofield
CEO

35 years of international experience in the founding and operating of petroleum, resource development, and mining related businesses in both the public and private sector.

Served as CEO, President, Managing Director, General Manager, Mine Manager, Operations Manager, Exploration Manager, Consultant and Project Manager within the petroleum, mining, exploration and drilling industries.

Don Hays
Don Hays
President

40 + years of energy sector experience specializing business development and stakeholder relations.

Coordinated the development of new facilities and major infrastructure projects in both the public and private sector.

Served as CEO, Manager of Business Development, Deputy and Executive Director, & Director of International Marketing.

 

Mark Urban
Mark Urban
Executive Vice President

Financial market strategist with over 20 years of industry experience.

Expertise in global market analysis, derivatives, economic forecasting, futures, options, wealth management, risk mitigation, and hedging strategies.

Consultant for direct oil and gas investments in the Bakken Shale, the Stack and Scoop play in Oklahoma, Sunniland Trend in Florida, and conventional oil fields projects in Texas and Louisiana.

Gerry Agranoff
Gerry Agranoff
Vice President

Serves as transactional and due diligence counsel to Promise Energy Holdings LLC. Involved in the review of asset acquisition and transaction planning team.

Over 30 years’ of experience as Principal and General Counsel in the energy and financial sectors, including transactional activity, due diligence, regulatory compliance, and corporate governance.

Served on the Board of Directors of publicly held gas and oil companies & companies in other sectors.

Don Schofield

CEO

35 years of international experience in the founding and operating of petroleum, resource development, and mining related businesses in both the public and private sector.

Served as CEO, President, Managing Director, General Manager, Mine Manager, Operations Manager, Exploration Manager, Consultant and Project Manager within the petroleum, mining, exploration and drilling industries.

Don Hays

President

40 + years of energy sector experience specializing business development and stakeholder relations.

Coordinated the development of new facilities and major infrastructure projects in both the public and private sector.

Served as CEO, Manager of Business Development, Deputy and Executive Director, & Director of International Marketing.

Mark Urban

Executive Vice President

Financial market strategist with over 20 years of industry experience.

Expertise in global market analysis, derivatives, economic forecasting, futures, options, wealth management, risk mitigation, and hedging strategies.

Consultant for direct oil and gas investments in the Bakken Shale, the Stack and Scoop play in Oklahoma, Sunniland Trend in Florida, and conventional oil fields projects in Texas and Louisiana.

Gerry Agranoff

Vice President

Serves as transactional and due diligence counsel to Promise Energy Holdings LLC. Involved in the review of asset acquisition and transaction planning team.

Over 30 years’ of experience as Principal and General Counsel in the energy and financial sectors, including transactional activity, due diligence, regulatory compliance, and corporate governance.

Served on the Board of Directors of publicly held gas and oil companies & companies in other sectors.

Our Approach

Promise Energy Holdings, LLC (“PE”) is a Houston-based, private energy company engaged in the acquisition, exploration, and development of oil and natural gas. PE is a low-cost conventional oil driller with main areas of focus in the Gulf Coast, Rocky Mountain, and Illinois Basin regions.
Given the current state of the market, PE is focused on building a production base through attractively priced PDP acquisitions with upside operational improvements and infill development.

Forward-looking operational strategy focused on being a low lift cost operator and drilling proven, highly-economic wells that will increase cash flow, production and reserves

Experienced management team is well positioned to opportunistically capture assets in the current commodity cycle and create value in depressed markets; the team has developed and subsequently monetized nearly $400 MM of assets in the last 20 years.

Recent acquisition of the Gillock Oil Field in Galveston County, TX provides a stable base of production and ample running room through development in the current price environment.

PE’s technical team brings decades of experience with Major operators and focuses on subsurface, 2D and 3D driven evaluations, engineering reports and a vast network of professionals throughout the industry.

Our Approach

Recent acquisition of the Gillock Oil Field in Galveston County, TX provides a stable base of production and ample running room through development in the current price environment.

Experienced management team is well positioned to opportunistically capture assets in the current commodity cycle and create value in depressed markets; the team has developed and subsequently monetized nearly $400 MM of assets in the last 20 years.

Forward-looking operational strategy focused on being a low lift cost operator and drilling proven, highly-economic wells that will increase cash flow, production and reserves

Given the current state of the market, PE is focused on building a production base through attractively priced PDP acquisitions with upside operational improvements and infill development.
Promise Energy Holdings, LLC (“PE”) is a Houston-based, private energy company engaged in the acquisition, exploration, and development of oil and natural gas. PE is a low-cost conventional oil driller with main areas of focus in the Gulf Coast, Rocky Mountain, and Illinois Basin regions.

PE’s technical team brings decades of experience with Major operators and focuses on subsurface, 2D and 3D driven evaluations, engineering reports and a vast network of professionals throughout the industry.

Projects

Gillock Oil Field​

Flagship Project​

The Gillock Field is a significant conventional, salt dome oilfield located near the city of Houston, Texas. The discovery well was drilled in 1934 and the field was fully developed shortly thereafter by Amoco, reaching its peak production level in the 1970s (over 7,000 barrels of oil per day). Amoco also built the Texas City Refinery (one of America’s largest oil refineries) adjacent to the Gillock Field on the western shoreline of Galveston Bay.

Amoco operated the field for over 50 years and sold it in 1989. A series of small operators have owned the Gillock Field since Amoco sold it. The Gillock field has produced 45.9 million barrels of oil from the main prolific “Big Gas Sand” reservoir zone between discovery in the 1930s and today. Management believes that independent engineering reports indicate that this production represents only approximately 23% of the original oil in the Big Gas Sand Reservoir at South Gillock, indicating that that over 50% of the recoverable oil may remain in place.

Approximately 150 wells were drilled into the Gillock Field properties since discovery, mostly prior to 1960 by Amoco’s predecessor Pan American. An important and unique feature of the Gillock Field is that over 70 wells remain accessible for evaluation as future producers, which management believes indicates the quality of the installation and the favorable ground conditions of the Gillock Field. These 70+ wells are “suspended” which means not producing but having never been permanently cemented and reclaimed, a procedure known as plugging and abandonment (P&A). The Owner will begin rapid development of the field by re-entering the suspended wells to perform maintenance work and re-establish production. This procedure is known as a “workover”. The cost of a workover is typically only around 10% of the cost to drill a new well to replace a well that has been plugged and abandoned.


Advantageous location next to Texas City refinery

Future Projects

Community

Corporate Responsibility

Promise Energy Holdings recognizes that our oil and gas exploration and production activities could have social, cultural and economic impacts on stakeholders including local citizens, governments, industry groups, service providers, NGO’s and landowners. Promise Energy embraces this responsibility and has developed and implemented plans to minimize impacts and support our communities in many ways including but not limited to the following:

Stakeholder Relations

  •  Promise Energy will build trust and integrity in all that we do, conducting our operations with honesty and transparency,
  • Promise Energy is committed to developing transparent communications between the Company and our stakeholders,
  • Promise Energy, through information sharing, will encourage and support well-informed stakeholder groups,
  • Promise Energy is committed to enhancing stakeholder networks, cooperation and support,
  • Promise Energy is committed to understanding stakeholder issues, concerns and trends.
  • Develop proactive, lasting relationships with individuals, groups and organizations that are associated with Promise Energy,
  • Deliver relevant information to key stakeholders in a targeted and timely manner,
  • Be recognized as an organization that treats stakeholders fairly and with respect