N. David Porter co-founded Sendero Energy, Inc. (“Sendero”), and began acquiring properties in late 2001 through individual oil & gas holding companies with the acquisition of a package of non-operated working interests, over-riding royalties, and mineral interests located throughout the Anadarko and Arkoma Basins of Oklahoma. Shortly thereafter, the Company acquired operated producing leases in South Texas.
Sendero is an independent oil and gas operating company formed to operate and administer the acquired oil & gas properties by providing engineering, land, geologic, accounting and other services. Currently, it administers interests in over 400 properties located in six states.
Sendero also operated wells in East Texas and had interests in almost 20,000 acres in the Carthage Cotton Valley and the Haynesville play in Northern Louisiana. After drilling numerous in-fill development gas wells and establishing the block’s productivity, these properties were sold to two, large, publicly traded independent oil & gas companies. Sendero’s affiliates retained substantial royalty positions, which are still managed by Sendero Energy.
In addition, Sendero manages and/or assists in the management of two separate oil and gas limited partnerships, Sendero Energy Partners, LP and Providence Energy Partners II, LP. These partnerships own non-operated working interests in producing properties and participate in horizontal drilling projects located in Mississippi, Oklahoma, North Dakota and Texas.
Sendero’s successes to date resulted from an opportunistic approach to portfolio management, seeking to capitalize on existing market conditions.