Harding & Shelton’s energy business is now
Antioch Energy
About…
Antioch Energy is backed by TPH Partners, one of the energy industry’s premier private equity firms with extensive industry knowledge and relationships. Antioch is founded by Nathaniel Harding and Kevin Dunnington, who previously as Harding & Shelton, Inc built and sold a substantial horizontal redevelopment play in the Western Anadarko basin.
Today Antioch Energy is growing. We have added some of the best people in the business to our team, and are actively acquiring. We still hold to our roots while adapting and thriving in this ever-changing industry. Our independence is matched only by our loyalty to our people. We work for each other, and we take pride in what we do.
Located in historic Bricktown, our new headquarters provide a great place to work. With financial backing from TPH Partners, Antioch is positioned well to develop our assets and capitalize new opportunities. This period of growth in our company means finding creative people who seek challenges, perform at the highest level, want to see their work through, and benefit from their efforts.
Company Background…
Antioch Energy has roots in the industry spanning three generations, with the last 35 years operating in Oklahoma. Our success has been in growing production and in exploration—both conventional and unconventional.
Our predecessor—Harding & Shelton, Inc (H&S)—first started acquiring distressed assets in the 1980s, which became the cornerstone of one of the largest private positions in the area. Since that time, the company discovered and developed many oil and gas fields.
In 2010, the company began horizontal drilling to explore emerging unconventional plays, and sold the development for $120 million in 2013. H&S then restructured into the 3rd generation of the business.
Mission and Values…
Antioch Energy strives to be a premier exploration and development company, with a proud legacy of independence, local expertise, and loyalty to our great people. We value our reputation in dealing fairly and being good stewards of our assets, and take seriously our responsibility as a good corporate citizen and member of each community in which we operate.
2016
HSE joins with TPH Partners to form Antioch Energy, ushering in a new era of growth in Oklahoma
2015
During commodity free fall, grew production ~50%, cut expenses ~50%, grew proven reserves, and divested liabilities for a net positive value
2014
Restructured into next generation as Harding & Shelton Exploration, LLC (HSE), consolidating all family and partner entities, and re-focusing on E&P
2013
Sold unconventional redevelopment play for $120mm; sold pipeline, supply, and workover rig sub-entities
2010-2012
Drilled 20 horizontal wells in 4 targets, plus 50 non-op, proving eastward extension of unconventional redevelopment plays
2009
In partnership with Harding Energy Partners in Dallas, H&S completed four contract projects with two different major Chinese oil companies to explore for, drill, and complete China’s first-ever targeted shale gas horizontal wells. Our engineers created the drilling and completions programs for China’s first shale gas wells, and our executives advised on geophysical exploration to delineate each of mainland China’s potential shale plays. Harding & Shelton Energy Consulting hosted two shale gas conferences, and started research programs at two universities.
2008-2009
Focused on costs and production growth through workovers during economic downturn
2005
Harding & Shelton purchased historic Bricktown properties and started in 2005 with renovations. These buildings continue today as the home for our energy business.
2004
When lucrative midstream assets are unavailable in the area of operation, the company has built and operated pipelines to support drilling activity. Over a 10-year period H&S developed mid-stream assets, including a tap to Panhandle Eastern.
2003-2007
Developmental and exploration drilling success continued
2001
In 2001, Harding & Shelton purchased a small roustabout and general energy service company located in Taloga OK. H&S also purchased a well service company in late 2005. During H&S’s most active conventional drilling, the service assets were critical in workovers and recompletions. The storage yard, field office, and facilities were located in Enid. After realizing approx $20 million in net income over years of operation, H&S sold the well service company in 2013 to re-focus on the E&P core business.
2001
Sold most production for $20mm, retaining significant development rights
Late 1990s
Exploration drilling success in prolific conventional fields led to long-term capital funding for follow-on development
Early 1990s
Accumulated 100s of wells in 10s thousands of acres, began exploration drilling
Late 1980s
Acquired under-managed wells from distressed companies during the bust
1983
Harding & Shelton, Inc (H&S) was incorporated and began operations in Oklahoma
1978
Founders began pursuing joint opportunities in Oklahoma