Develop oil and gas shale properties to their full market value and maximize investor return with the application of advanced geologic, geophysical, petrophysical, drilling and completion techniques.
Mr. Joseph Magoto, former President of Tall City, was deeply involved in the development and sale of Tall City’s assets. With the completion of those divestments, Mr. Magoto formed Charger Shale Oil Company in 2016, along with several key executives from Tall City including Darryl James, VP Geology; Doug Scott, Chief Petrophysicist; and John Stewart, Geology Computer Specialist. Other members of the executive staff include Chuck Lundeen, VP Land and Legal (former Senior Manager Western US at Devon Energy); Jeffrey Wilson, VP Engineering (former Managing Senior VP of Ryder Scott); Tom Thiele, VP Operations (former Sr. VP at Midstates Petroleum Company, LLC); Craig Young, VP Drilling (former Head of Drilling in the Permian Basin and Eagle Ford for EOG); Bob Bintliff, Chief Accounting Officer (former partner at PricewaterhouseCoopers); and Tom Barr (former Reserve Engineer at Cawley Gillespie).
With Midland Basin property values appreciably higher across the entire basin, Charger turned their attention to the Delaware Basin where property values in frontier areas were more reasonable. Prior to investor funding, Charger secured more than 40,000 acres in the Delaware Basin using capital sourced from management and key strategic investors. Charger then formed a joint venture with Oaktree Capital Management, L.P. (“Oaktree”). Oaktree has pledged $600 million in an initial equity commitment with an additional $300 million runway commitment.
Charger plans to expand to over 65,000 acres and intends to drill sufficient producing wells to prove the most productive zones. At full development, the partnership is targeting over 100 horizontal well locations across multiple productive zones.