ThoughtTrace proudly announces the addition of energy executive, Brian Poe, as Director of Business Development. With 15 years of experience in upstream and midstream oil and gas, Brian Poe has focused on land-related matters including administration, acquisition, asset development, mergers, and divestitures. He has also served as a consultant to domestic E&Ps, financial institutions/investment banks, royalty and mineral buyers, as well as global majors. We sat down with Brian for an interview to learn more about our newest team member and his plans for his new role at ThoughtTrace:
Q: Brian, tell us a little about your background in the energy industry.
A: I began my career in the Barnett Shale and moved to Appalachia where I oversaw large scale land acquisition projects in Pennsylvania and Ohio. I then relocated to Houston in 2012 and transitioned into more A&D focused work while continuing to act as a Land Manager for the Appalachian region of a land service company. I most recently served as SVP of a large PE-backed nationwide land service company, overseeing the Houston, West Texas, and Rockies divisions. I was responsible for new customer development, customer satisfaction, and retention, as well as day-to-day business operations. My career highlights include successfully establishing a presence in new markets; in doing so, growing the customer base by 300% and developing the right support teams for this monumental growth. Throughout my career, I’ve consulted on billions of dollars in successful A&D transactions.
Q: With your breadth of experience across the country and across the E&P spectrum, what are some pain points you feel plague the industry in the contract/agreement space?
A: I’d say many of the pain points that persist across the industry involve data management – disjointed groups can’t find answers to difficult questions in real-time which leads to lack of efficiency and increased costs – all when most groups are functioning with fewer resources. We’ve traditionally seen a resistance to change in the energy industry, which is compounded by the knowledge lost to turnover and volatile market swings. When companies don’t have visibility into what they have and what they don’t, they end up revisiting assets where intellectual knowledge walked out the door and they have no roadmap or blueprint left behind. Groups are continuing to invest in and develop assets without real-time insight to the asset lifecycle.
Q: You’ve had the chance to work with E&Ps on the public and private side. What continues to capture your interest in this space?
A: Wow, what keeps my interest is the global economic impact related to oil production, resources, transportation, etc. What happens in this industry matters globally. I came over to ThoughtTrace to be in front of a change. Finance, land, legal, operations, and institutions are all looking at the same agreement, but in very different ways. For example, we are seeing less and less land grab and more development which makes understanding and analyzing related documents more important than ever. Being part of the technology change means impacting this space in a positive way.
Q: How do you view the appetite for innovation in energy?
A: While some areas are still hesitant to transform, technology makes land admin and other departments more efficient and smarter on day-to-day tasks. When they do implement technology, they create a new way of thinking with new direction that allows people to do their best work. Access to intelligent software doesn’t replace traditional land and accounting platforms, but with proper implementation can greatly affect the user’s output.
Q: Why were you excited to join ThoughtTrace?
A: I’m excited to be part of a company that is trailblazing exciting developments in oil and gas and beyond – both in how the industry utilizes software powered by AI and ML – but also to see how the world will transition into using this technology in daily operations. It’s really exciting to see how people can leverage AI to be better at their jobs, and save time, energy, and effort. And I’m thoroughly enjoying working alongside a group of really cool, really smart people.
Q: What will you be doing in your new role?
A: Primarily, Business Development. I’ll be utilizing my experience to grow the current channels and existing customer base, and introduce the power of ThoughtTrace to new companies in new markets. I’m also excited to bring a fresh set of eyes to projects our current customers are working on – proposing new ideas and recommendations for best practices. Until the newness wears off, I’ll also need to hone my pitching skills to defend against Arthur and Kurt who are currently throwing stress balls at my window during this interview.
Q: Fast Five:
Favorite books: Spy novels and deep space – a very specific sub-genre.
Nickname: Poe, but BPoe at ThoughtTrace. I also respond to Poe Boy, Poe Bear… you get the idea.
Hobbies: Golf, Cooking, spending time with my 22-month-old daughter, Ella, and wife, Kelly.
Favorite travel spot: Italy – food!
Favorite food or restaurant: Tuscan Italian and BBQ