Howard House, SVP and Chief Strategic Officer of U.S. Energy Development Corporation [Photo: U.S. Energy Development Corporation]
Fort Worth-based energy exploration and production company U.S. Energy Development Corp. announced that Howard House has been appointed as SVP and chief strategic officer. The company has also opened a Houston office to support its growth.
House will focus on strategic initiatives and opportunities to ensure the company remains competitive while adapting to the evolving energy landscape, USEDC said. He will also coordinate activities associated with opening and managing the new Houston office.
“Howard brings exceptional depth of experience and strategic insight to U.S. Energy,” Jordan Jayson, CEO and chairman of USEDC, said in a statement. “As we anticipate deploying $1 billion in capital over the next 12-18 months, M&A will be a central driver of our growth strategy. Howard’s track record in mergers and acquisitions is second to none—he understands Houston, he understands Texas, and he possesses extensive knowledge of the industry. Just as important, he’s built trusted, long-standing relationships across the energy community. That rare combination of deal-making expertise and industry credibility is exactly what we need as we strengthen our footprint in Houston.”
House also will join USEDC’s investment committee.
USEDC said that with more than 35 years as an energy investment banker, House brings over $125 billion in transactional experience in the energy space to his new role, including roughly $60 billion of completed strategic advisory mandates, including mergers, acquisitions, divestitures, takeover defense, and restructurings.
House has also raised more than $65 billion in public and private capital markets transactions, the company said.
Targeting growth
USEDC said that House’s industry reputation and extensive oil and gas network will be key to facilitating the firm’s growth and said that House will focus on strengthening industry relationships across the energy value chain as well as sourcing and evaluating strategic opportunities.
“I’m very excited to join U.S. Energy as we establish our presence in Houston,” House said in a statement. “I have watched USEDC grow from an Appalachian-focused enterprise into an active driller and acquirer of both operated and non-op interests across numerous basins. I look forward to playing a role in its future growth.”
House’s experience includes senior roles at Greenhill & Co., Raymond James & Associates, and Lehman Brothers. He began his career in the energy industry as a petroleum engineer at Exxon Co. USA.
USEDC said the opening of the Houston office reflects its commitment to continued growth in Texas and beyond. It said that with Houston being a global hub of the energy industry, establishing an office here will allow USEDC to leverage existing and new relationships in order to enhance deal flow.
Founded in 1980, USEDC is a privately held exploration and production firm that manages assets for itself and its partners. It has invested in, operated, and/or drilled roughly 4,000 wells in 13 states and Canada and has deployed more than $3 billion on behalf of itself and its partners.
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