Investment Banking Associate
EnCore Permian is a Midland-based upstream Oil & Gas exploration firm that capitalizes on an inefficient asset market. The company’s core competency is land acquisition in the Permian basin of west Texas and southeast New Mexico. EnCore purchases mineral / royalty interests, operated and non-operated leasehold and currently maintains about 30 wellbores with plans to drill 3 horizontal wells in the Delaware basin this fall and 5 additional wells in 2020.
EnCore was formed in December of 2016 as a joint venture between PetroLima, LLC (current asset manager) and private equity sponsor Castlelake, L.P. Since January 2017 the company has acquired approximately 34,000 acres of land and deployed 200MM in capital.
EnCore’s culture is a performance-based, entrepreneurial, high-energy environment where the current 16 employees are involved in multiple levels of the organization. The management style is results-oriented and focused on production, not activity. Most employees would agree that we are “Macro-Managers”, providing specific goals with timelines and allowing the individual to choose their path and process. Diligent time management is key with the ability to self-direct and operate in the face of ambiguity.
We are looking to add an Associate to help augment our growing team to report directly to the CFO and senior management. The Associate will be working closely with company executives and also with our private equity sponsor.
The company requires 2-7 years of work experience at an investment bank or private equity firm in the energy sector. A working knowledge of oil & gas financial and engineering concepts is mandatory. The individual should be an expert Microsoft Excel user, capable of building complex financial models using company data. Strong PowerPoint and communications skills are a must.
The company prefers this position to be based in Midland with a full-time presence at the home office. We are willing to consider a remote / commuting option for the ideal candidate. Houston is the preferred remote locale.
The screening process consists of a CCAT survey, personality survey (The Culture Index), phone interview, and 1-2 in-person meetings.
Location: Midland, TX
- Interface on a daily basis with company CFO, executives and at least weekly with private equity director.
- Support origination team and VP of Business Development through valuation and pricing guidance.
- Analyze public company performance and key M&A transactions to provide real-time market intelligence.
- Underwrite assets based on a combination of acreage value, DCF analysis, and NAV models.
- Merge engineering and financial data to enhance company decision making.
- Develop and help implement strategies for the company to increase revenue, improve margin.
- Extensive financial modeling including sensitivity analysis to support acquisition, divestiture and executive decision making.
- Provide financial evaluation of investment opportunities in weekly presentation to Castlelake.
- Provide ongoing monitoring of assets with the firm’s portfolio including review of monthly operating results and company IRR based on revenue and current mark-to-market valuations.
- Provide presentation and data assistance to company executives for conferences and trade shows.
- Travel required – approximately 6-10 trips per year
- Capable of building Oil & Gas NAV models from scratch
- Strong academic credentials – Bachelor’s Degree is required with 2-7 years of work experience
- Experience at an investment bank or private equity firm
- Experience in A&D, RBL / financing structures, drill-co’s etc.
- Strong knowledge of oil & gas asset types and common deal structures
- Knowledge of business growth strategy and the risk/return characteristics of equity investment
- Extensive financial modeling skills and experience in Excel
- Previous transaction experience on either the buy or sell side
- Strong interpersonal and communication skills
- Clear, concise writing skills
- Detail oriented
Compensation: Salary and annual bonus based on performance
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Job Type: Full-time
Salary: $120,000.00 to $175,000.00 /year
- Oil & Gas Related: 3 years (Required)
- Investment Banking or Private Equity: 3 years (Required)
- Health insurance
- Dental insurance
- Vision insurance