What Happened?
Austin, TX-based Luxe Energy Appointed Russell Rankin as Vice President Operations
About the Company
Luxe Energy LLC (“Luxe Energy” or the “Company”) is an oil and gas company based in Austin, Texas. The Company was formed April 30, 2015, with a $500 million equity commitment from NGP Natural Resources XI, L.P. (“NGP”), and management. In January, 2016, the Company purchased approximately 20,000 acres in the Delaware Basin. The company sold its Delaware Basin position on September 1, 2016 for $560 million to Diamondback Energy, Inc. Most recently the Company announced in October 2016 a new approximately $524 million equity commitment from NGP and management. The Company`s strategy is to acquire unconventional oil properties in liquids rich basins throughout the United States, and to apply innovative technologies to drive operational excellence. Co-Founders A. Lance Langford and Jeff Larson, have worked together for over 25 years at Burlington Resources and more recently as executives at Statoil. Prior to joining Statoil, Lance and Jeff served as executives for Brigham Exploration (“Brigham”), and drove Brigham`s success in the Bakken. Lance and Jeff continued to manage Brigham`s significant growth in the play through the merger with Statoil in 2011, until leaving to form Luxe.
About the Person
Russell Rankin is Vice President Operations at Luxe Energy. Previously, Russell held various senior HR leadership roles in the industry.
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