Verdun Oil Company

Verdun Oil Company is a privately held oil & gas company based in Houston, Texas focused on acquiring, developing, and producing assets in the Eagle Ford shale and Austin Chalk trends in South Texas. Verdun was formed in 2015 with equity commitments from management and EnCap Investments.  The Company has grown through a series of acquisitions and a successful continuous development program to be one of the largest privately held companies operating in South Texas in terms of asset size and hydrocarbon production.

Vision:

To be the standard against which other E&P companies are measured in terms of operational performance, safety, creativity, decision making, and corporate responsibility.

Mission:

Verdun’s Mission is to bring together a top-tier group of motivated employees focused on identifying, acquiring, and optimizing the recovery of oil and gas reserves at an industry-best performance metric while maximizing the benefits to our employees, landowners, and the communities where we operate.

Business Philosophy & Values

Create Alignment at All Levels
A rising tide lifts all boats: company, employee, landowner, vendor, and community.

Optimal Performance; Move Safely in the Right Direction with a Sense of Urgency
Best-in-class performance requires top-tier, safety-concious decision making in a timely manner.

Work Hard & Have Fun
A successful, sustainable business cannot survive the test of time without both.

There is always a better way
Continuous improvement is not only possible, but necessary.

December 2015
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December 2015

Verdun Oil Company was founded in December 2015 to acquire and operate historically undercapitalized oil & gas assets in cost-advantaged plays with proximity to end markets and energy-friendly regulatory environments

2016
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2016

Acquired Eagle Ford producing assets consisting of over 11,000 net acres and 2,000 BOEPD in Live Oak, Dimmit & La Salle Counties

Completed first 2 Eagle Ford wells at ~2,400 BOEPD each

2017
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2017

Acquired entry position in the Giddings field with Austin Chalk leases held-by-production (“HBP”)

Acquired Eagle Ford producing assets consisting of 2,700 net acres and 1,250 net BOEPD in Live Oak County

Acquired Eagle Ford producing assets consisting of 1,900 net acres and 600 net BOEPD in Gonzales & DeWitt Counties

2018
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2018

Acquired 2,210 net acres (81% NRI) of non-producing leasehold located in the oil window of McMullen County

Acquired Eagle Ford producing assets consisting of 5,460 net acres and 850 net BOEPD located in Karnes and Live Oak Counties

Completed the first full liner isolation refrac ever performed in the Eagle Ford (April 2018)

2019
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2019

Eclipsed 20,000 net BOEPD milestone in early 2019

Acquire Eagle Ford producing assets consisting of 11,200 net acres and 700 net BOEPD in La Salle & McMullen Counties

Launched distribution to equity program financed by company free cash flow

2020
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2020

Implemented COVID-19, price-driven production shut-in; no new-well development through the remainder of the year

Acquired Protégé Energy III’s Eagle Ford assets located in Dimmitt and Atascosa Counties with 12,000 net BOEPD of production across 24,600 net acres

2021-2022
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2021-2022

Eclipsed 50,000 net BOEPD milestone in early 2021

Acquired Eagle Ford property consisting of 4,853 net acres in McMullen and Live Oak Counties

Acquired EP Energy, with assets located primarily in LaSalle County, TX producing 22,000 BOEPD from over 950 operated wells across 110,000 net acres

Formed compression business unit to acquire and manage over 87,000 HP of compression and servicing >50% of Verdun’s total utilization

Acquired additional Eagle Ford assets in Dimmit, La Salle & McMullen Counties

Completed 50th refrac in December 2022

2023 - 2024
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2023 - 2024

Curtailed dry gas production in response to NYMEX Henry Hub price weakness

Eclipsed 80,000 net BOEPD milestone in 1Q23

Completed 75th refrac in November 2023

Acquired Eagle Ford properties in La Salle County in June 204 including over 34,000 net acres, 193 producing wells, and 8,500 BOEPD

Eclipsed 100,000 net BOEPD milestone in 2Q25

2025 - Present
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2025 - Present

Acquired miscellaneous assets in LaSalle and McMullen Counties totaling 2,200 net acres

Acquired non-operated Eagle Ford assets in Karnes County totaling 21,000 net acres and
19,000 net boepd.

Eclipsed 110,000 net BOEPD milestone in Dec 2025.

Leadership Team

Tim Nein - President & CEO

Tim Nein is a founder and the President and Chief Executive Officer of Verdun and has over 27 years of experience in the oil and gas industry. Prior to forming Verdun, Mr. Nein was employed by Hilcorp Energy Company and served as the Area Manager (ATL) for the Northeast U.S. Region and was responsible for developing the Utica Shale with a gross operating budget of over $300 million for both 2014 and 2015. Prior to that, Mr. Nein was the Director of Hilcorp’s New Ventures group and was responsible for the evaluation and entry recommendations for resource plays across the Lower 48 and Canada, highlighted by the company’s 2009 entry into the Eagle Ford Shale and 2011 exit via divestment to Marathon Oil Company for $3.5 billion. Mr. Nein started his career as a Production and Reservoir Engineer in Midland, TX, and spent over six years working the various sub-basins of the Permian Basin for Texaco and Conoco, followed by three years in the Gulf of Mexico working as Reserves Manager / Engineer for Bois d’Arc Energy. Mr. Nein received a B.S. in Chemical Engineering from the University of Wyoming and a Master of Business Administration from the University of Texas-PB.

Thomas Allen - Chief Operation Officer

Thomas Allen serves as Chief Operations Officer at Verdun and has over 18 years of experience in the oil and gas industry. He leads Verdun’s asset planning, development, production, facilities, compression, procurement, and midstream and marketing functions. Before assuming his current role, Mr. Allen was the Vice President of Midstream and Marketing at Verdun and was a leader in the land department. Prior to joining Verdun, he was a co-founder and president of a private equity-backed E&P company with operations in North and West Texas. Prior to that, Mr. Allen was employed by Hilcorp Energy Company in roles of increasing responsibility in the land department covering the Eagle Ford Shale and conventional South Texas properties. Mr. Allen received a Bachelor of Arts from Texas Tech University and a Juris Doctorate from South Texas College of Law.

Carlos Newall - Chief Financial Officer

Carlos Newall serves as Chief Financial Officer at Verdun and has over 15 years of experience spanning corporate finance, private equity, and public markets within the energy sector. He leads Verdun’s finance, accounting, acquisitions, legal, and human resources functions and is responsible for corporate strategy, risk management, and acquisitions and divestitures. Prior to becoming CFO, Mr. Newall held multiple leadership roles at Verdun, including Vice President of Finance and A&D and Director of Finance. Earlier in his career, he worked at Edge Natural Resources, a private equity firm investing in small-cap North American energy opportunities, and at Raymond James Financial covering U.S. E&P companies in equity research. He began his career at JPMorgan Chase. Mr. Newall received a Bachelor of Business Administration from Texas Christian University.

Jason Codianne - Vice President of Data and Technology

Jason Codianne is the Vice President of Data & Technology at Verdun and has over 28 years of experience in the information technology and energy industries. Prior to Verdun, Mr. Codianne was the Chief Information Officer of Torrent Oil, which owned and operated oil & gas assets in Texas. Prior to Torrent, Mr. Codianne worked for Hilcorp Energy Company as the Application Development Manager, providing system support and creating efficiencies across all functional departments. Mr. Codianne is a PMI-certified Project Manager, holds Microsoft certifications in Azure, Application Development & Databases, and received a Bachelor of Business Administration in Finance from the University of Houston.

Jason LaGrega – Executive Vice President of Drilling and Completions

Jason LaGrega is a founder and the Executive Vice President of Drilling, Completions, and Workovers at Verdun and has over 27 years of experience in the oil and gas industry. Prior to forming Verdun, Mr. LaGrega was employed by EOG Resources Inc. and served as the Drilling Manager in the San Antonio Eagle Ford region, where he drilled over 2,000 wells and helped pioneer new drilling techniques that have become industry standard practice today. Mr. LaGrega spent five years in the Permian Basin as part of EOG’s Midland Division. During his tenure in that role, he drilled a wide variety of wells including deep, HPHT gas wells, multi-laterals in the Devonian Chert, vertical wells in Midland Basin’s Sprayberry and Wolfcamp trend, and also cased-hole horizontals targeting the Delaware Basin’s many unconventional reservoirs. Mr. LaGrega started his career as a Production and Completion Engineer in Midland, TX, for Texaco, where he optimized operations and production across a multitude of different asset types from deep, depletion-driven gas reservoirs to primary, secondary, and tertiary-recovery oil reservoirs. After the merger between Chevron and Texaco to form ChevronTexaco, Mr. LaGrega served as a Reservoir Engineer on the Asset Development Team before eventually transferring into ChevronTexaco’s drilling department. Mr. LaGrega received a B.S. in Petroleum Engineering from the University of Texas at Austin after spending two years at the United States Military Academy at West Point.

Will Rider - Executive Vice President of Land, Legal & Regulatory

Will Rider is a founder and Executive Vice President of Land, Legal & Regulatory at Verdun and has over 24 years of experience in the legal and energy industries. Prior to forming Verdun, Mr. Rider was employed by Hilcorp Energy Company as Business Development Manager and as a Landman primarily covering the Eagle Ford Shale. Prior to Hilcorp, Mr. Rider worked for Atinum E&P as the Supervisor of Land & Legal.  Before joining Atinum, Mr. Rider worked as an associate attorney for the firm of Bienvenu, Foster, Ryan & O’Bannon, managing clients’ fee minerals and commercial leasing as well as litigating real property damage and oil & gas operator disputes. Mr. Rider received a Bachelor of Arts and a Juris Doctorate from Louisiana State University.

Martin Perez - Executive Vice President of Reserves, Acquisitions and Divestitures

Martin Perez is a founder and the Executive Vice President of Reserves, Acquisitions and Divestitures at Verdun and has over 25 years of experience in the upstream oil and gas industry. Prior to forming Verdun, Mr. Perez was a Development Supervisor for ConocoPhillips, where he managed a team actively drilling wells and overseeing assets in the Permian Basin with a recurring capital budget of $50 to $100 million. Prior to ConocoPhillips, Mr. Perez worked for Devon Energy as a Reservoir Engineer for South Texas assets, where he evaluated, proposed, and drilled vertical and horizontal prospects and had oversight of a $60 million development budget. He began his career in field operations for Baker Hughes in South Texas. Martin received a Master of Petroleum Engineering from Texas A&M University.

Jordan Tucker - Vice President of Development

Jordan Tucker is the Vice President of Development for Verdun and has 11 years of experience in oil & gas. Mr. Tucker joined Verdun in 2016 and has worked in various roles, including Asset Teams Manager, Drilling, Completions, Production, and Evaluations. Prior to Verdun, Mr. Tucker worked on operations and reservoir projects in multiple oil & gas basins. Mr. Tucker received his B.S. in Petroleum Engineering from the Colorado School of Mines.

Jack Nohavitza - Vice President of Production

Jack Nohavitza is the Vice President of Production for Verdun and has 15 years of experience in the oil and gas industry. Before assuming his current role, Mr. Nohavitza was an Asset Team Manager at Verdun, where he led the planning, development, and production efforts. Prior to Verdun, Mr. Nohavitza served as Reservoir Engineering Manager for EP Energy and was responsible for transitioning the company’s Uinta Basin assets from vertical to horizontal development while maintaining an active drilling program in the Eagle Ford Shale, overseeing total company capital budgets over $400 million. Mr. Nohavitza started his career working in various operational and reservoir engineering positions in the Permian Basin, Uinta Basin, and Eagle Ford Shale for El Paso Corp then EP Energy. Mr. Nohavitza is a licensed professional engineer in the state of Texas and received a B.S. in Petroleum Engineering from Texas A&M University.

Steven Zehner - Director of New Ventures

Steve Zehner is the Director of New Ventures at Verdun Oil Company, where he evaluates growth opportunities across the Lower 48 basins. He brings 13 years of oil and gas experience, including 11 years with Verdun dating back to the company’s first acquisitions. He joined Verdun as its sole Operations Geologist, overseeing all geologic planning and operations, while supporting the Exploration and A&D efforts that built the company’s Eagle Ford asset base. He later moved into Asset Management, where he was responsible for asset-level P&L, led a production team operating over 900 wells, and directed a capital development program with an annual budget exceeding $200 million. Before Verdun, he worked at Halcon Resources, mainly in the Exploration Group, and provided geoscience support to the Asset Teams on special projects across several basins. He received a B.S. in Geology from the College of Saint Rose and an M.S. in Geology from the University of Houston.

Jason Dwyer - Vice President of Human Resources

Jason Dwyer is the Vice President of Human Resources at Verdun. He has over 29 years of experience in the oil and gas industry, with 15 years of that being in a human resources leadership role. Before joining Verdun, Mr. Dwyer worked on the drilling service and midstream sides of oil and gas and worked his way up from operations through engineering, manufacturing, procurement, and logistics to administration, where he ultimately became the head of the human resources department at Scientific Drilling International, leading the human resources teams across 15+ countries. Mr. Dwyer has extensive experience in compensation and retirement plan design, pay and benefits design and compliance, and HRIS system design and implementation. Mr. Dwyer also has extensive experience in M&A activities as they relate to the integration and consolidation of company policies, practices, benefits, systems, and employees. Mr. Dwyer received a Bachelor of Mechanical Engineering from Memorial University of Newfoundland and an Executive MBA from the University of Houston.

Partners

EnCap

Since 1988, EnCap Investments has been a leading provider of venture capital to the independent sector of the U.S. energy industry. The firm has raised 25 institutional funds totaling more than $40 billion and currently manages capital on behalf of more than 350 U.S. and international investors.