Michael N. Foster, Jr.
President and Co-Founder
Lary D. Knowlton
Executive Vice President and Co-Founder
Nathan A. McGough
Chief Financial Officer
Chief Accounting Officer
Mr. Foster has served in this position since the company’s inception in May of 1989. As President, Mr. Foster has grown the assets under the company’s management to over $1 Billion while distributing hundreds of millions of dollars. Mr. Foster is responsible for the creation and management of BĀSA’s financial, acquisition, and operational strategies. The success of these strategies is evidenced by the firm’s growth in production and value since inception. Mr. Foster also manages and reviews the engineering of all field operations for approximately 4,300 wells spread across the more than 35 fields operated by BĀSA. Before co-founding BĀSA, Mr. Foster served as Vice President of FEC Securities Corp., an oil and gas exploration marketing firm. Mr. Foster directed the marketing of FEC’s oil and gas products and managed the firm’s training and development programs. He played an integral role in the selection of numerous drilling prospects and the review of geological, geophysical and reservoir engineering reports. Mr. Foster is a graduate of Austin College in Sherman, Texas with a Bachelor of Arts in Business Administration. Mr. Foster serves on several boards including the Austin College Board of Trustees and the East Texas Saltwater Disposal Company Board of Directors. Mr. Foster is a member of the Independent Petroleum Association of America, the East Texas Engineering Association, and the Dallas Petroleum Club where he previously served on the Board of Directors.
Mr. Knowlton has served in this position since the company’s inception in May of 1989. As Executive Vice President, Mr. Knowlton is responsible for business development and high-level company strategy. Early In the company’s history many of the firm’s acquisitions were partially funded with the help of third party investor relationships managed by Mr. Knowlton. In this process Mr. Knowlton grew BĀSA’s partner base from a single domestic partner in 1989 to a large global network of thousands. From 1988 to May 1989, Mr. Knowlton served as Vice President of FEC Securities Corp., an oil and gas exploration marketing firm. Prior to 1987, Mr. Knowlton served as a financial planning consultant specializing in the areas of estate and insurance planning for Prudential Insurance Company. Mr. Knowlton attended college at Missouri Southern State College in Joplin, Missouri. Mr. Knowlton is a member of The Dallas Petroleum Club and the Independent Petroleum Association of America and serves on the board of the East Texas Saltwater Disposal Company.
Mr. McGough joined BĀSA in 2004 and is responsible for the firm’s financial strategy, management of banking relationships, portfolio management, risk analysis and management including derivatives trading, operations analysis, and strategic development & implementation. Mr. McGough also manages all aspects BĀSA’s institutional direct energy private equity fund – BĀSA PetroFund I which has delivered an internal rate of return in excess of 20% to limited partners over the last 11 years. Prior to joining BĀSA, Mr. McGough served as Manager of Risk Operations for Capital One Financial, Inc.’s Installment Lines of Business. While at Capital One, Mr. McGough held various leadership positions within the risk management arena. In his term as Manager of Risk Operations, Mr. McGough increased assets under management of an unsecured portfolio from $200 million to $575 million in less than two years while driving a 100% increase in profitability per dollar under management. Mr. McGough was also responsible for the development and application of analytical processes for the Auto Finance Division which were later applied across other installment lending lines of business at Capital One. Mr. McGough is a member of the Dallas Petroleum Club, Independent Petroleum Association of America and the Dallas ADAM Energy Group (Acquisition, Divestiture, and Merger).
Ms. Barnes joined BĀSA in February of 2014 as the company’s Controller and became the Chief Accounting Officer in 2017. She has over 25 years of experience in oil and gas accounting. Ms. Barnes supervises the accounting functions of the company, including accounts payable, joint interest billing, revenue, and financial reporting. Prior to joining BĀSA, Ms. Barnes held various accounting roles at Hunt Petroleum Corporation and Aethon I LP/Hyperion Energy LP. Ms. Barnes graduated with a Bachelor of Science degree with a concentration in accounting from the University of Texas at Dallas in 1991. She is a Certified Public Accountant and is a member of the Council of Petroleum Accountants Societies (COPAS).
Zachary H. Drake
Chief Compliance Officer
In-House Counsel & Vice President of Land
Robert N. Marshall
Vice President of Operations
Nicholas C. Duane
Vice President of Reservoir Engineering
Vice President of Drilling
Mr. Drake, age 35, joined BĀSA in April of 2013 and serves as the company’s Chief Compliance Officer, In-House Counsel and Vice President of Land. Mr. Drake is responsible for providing legal counsel; management of all land, title and ownership issues related to more than 4,300 wells operated by BĀSA in over 35 different fields throughout the State of Texas; and overseeing and managing all compliance issues within the organization, ensuring that BĀSA is complying with all regulatory requirements and that BĀSA and its employees are complying with all internal policies and procedures. Some of his additional duties include: pre-closing and post-closing curative and due diligence pertaining to acquisitions and divestitures; title examination; lease administration; dispute resolution; and the negotiation and authorship of various conveyances and agreements including purchase and sale agreements, joint operating agreements, salt water disposal agreements, farmouts, rights-of-way, easements, timber, pipeline, gas purchase, surface damage agreements and oil, gas and mineral leases. Prior to joining BĀSA, Mr. Drake spent five years in Fort Worth, TX working for a private oil and gas company focused primarily on operations in the Barnett Shale and later served as the Head of the Title Curative and Due Diligence Department working as a broker for numerous large public E&P companies, where he gained experience across the United States with exposure to the Eagleford, Bakken, Granite Wash, Haynesville, Marcellus, Mississippi Lime and Utica Shales. Mr. Drake is proficient in the interpretation and application of the Texas Title Examination Standards and the Texas Natural Resources Code. Mr. Drake holds a Bachelor of Science in Multinational Business from Florida State University and a Juris Doctorate from Southern Methodist University Dedman School of Law. Mr. Drake is an active member of the State Bar of Texas and a current applicant to become Board Certified in Oil, Gas and Mineral Law with the Texas Board of Legal Specialization. Mr. Drake is a member of: the Oil, Gas & Energy Resources, Environmental & Natural Resources, Corporate Counsel, and Real Estate Law Sections of the State Bar of Texas; the Dallas Bar Association, Energy Law Section; the American Association of Professional Landmen (AAPL); and the Dallas Association of Petroleum Landmen (DAPL). He is also a Licensed Real Estate Sales Agent with the Texas Real Estate Commission (TREC) and an Eagle Scout.
Mr. Marshall joined BĀSA Resources, Inc. in January of 2005 with 25 years experience in the oil and gas industry. Mr. Marshall has held a variety of management, supervisory, and technical positions with Ascent Energy, Inc., Kerr-McGee, Oryx Energy, and its predecessor, Sun Exploration & Production Company. Mr. Marshall began his career with Sun Oil Company in 1980. He has a very broad base of experiences operating in a multitude of geologic basins in the U.S. Mr. Marshall has a proven track record of exploiting assets as both an engineer and a manager by enhancing volumes and reducing costs in a variety of fields in Oklahoma, Louisiana, Texas, New Mexico, Colorado, and California. His strengths include his technical competence in drilling, completions, workovers, EH&S Management, artificial lift, compression, and operations management. Prior to joining BĀSA, Mr. Marshall worked for Ascent Energy, Inc. as V.P. of Operations. Previously Mr. Marshall managed Kerr-McGee’s domestic onshore operations where his responsibilities included financial authority and management of a staff including 5 operations engineers, 3 field superintendents, and 80 field operations employees. These operations consisted of more than 2,300 active producing wells in 35 fields with daily production of 8,000 barrels of oil and 3 million cubic feet of gas. He has excelled in his ability to move into a new area, assess an operation, rapidly deploy the resources, and implement the systems and processes to achieve a streamlined, efficient business unit. Mr. Marshall attended Louisiana State University where he earned B.S. degrees in Zoology and Petroleum Engineering. He is a member of the Society of Petroleum Engineers, American Petroleum Institute, American Association of Drilling Engineers, and Mid-Continent Oil & Gas Association. He is also a certified Incident Commander for Hazardous Waste Operations and Emergency Response (HAZWOPER) and is certified by the MMS at the “Supervisor” level for Well Control on Workovers/Completions/Well Servicing.
Mr. Duane joined BĀSA Resources, Inc. in May of 2005 with a unique combination of over 30 years of diverse reservoir and operations engineering experience. He has managed engineering projects throughout the United States and Canada as well as many international locations while working for Amoco Production Company, Santa Fe Minerals, Inc., Vintage Petroleum, Inc., Oryx Energy Company, and William M. Cobb & Associates. Mr. Duane employs a reservoir engineering skill set which includes economic analysis, well test analysis, well log analysis, and other techniques to help define and exploit the full economic potential of oil and gas fields. He has demonstrated an ability to economically enhance recovery of oil from older producing fields by carefully describing the reservoir characteristics and using reservoir computer simulation to evaluate the improved effects of water, steam, and CO2 injection. Mr. Duane graduated from the University of Missouri at Rolla with a Bachelor of Science in Engineering in 1974. He has been the Chairman of the Dallas Section of the Society of Petroleum Engineers and the President of the Dallas Chapter of the Texas Society of Professional Engineers. He is a registered professional engineer in Texas and a member of National Society of Professional Engineers, the Texas Society of Professional Engineers, and the Society of Petroleum Engineers.
Mr. Limke joined BĀSA Resources Inc. in February of 2007 with over 25 years of experience as a petroleum engineer. Mr. Limke is responsible for reviewing all drilling prospects, supervising the drilling and completion of wells, and overseeing workover operations. Prior to joining BĀSA, Mr. Limke served as Vice President of Drilling and Operations at Ascent Energy Inc. Mr. Limke also managed the drilling operations at Prize Energy Inc. previous to his employment at Ascent. For the prior 22 years he held a succession of managerial and technical positions with Oryx Energy and its predecessor, Sun Exploration and Production Company. During this time Mr. Limke gained a wealth of experience drilling across the United States including: South Texas, Midcontinent, Appalachia, East Texas, as well as offshore. Mr. Limke attended Oklahoma State University where he earned B.S. degrees in Agriculture and Petroleum Engineering Technology. Mr. Limke is a member of the Society of Petroleum engineers. Mr. Limke is also a member of the American Association of Drilling Engineers and is a past board member and past president of the Dallas chapter of that organization.
James W. Barton
Vice President of Geosciences
Terry W. Rippy
Vice President and General Counsel
Sandra L. Wallace
Chief Financial Officer Emeritus
Mr. Barton joined BĀSA Resources, Inc. in May of 2006 with a diverse combination of over 20 years of exploration and exploitation experience. Mr. Barton’s responsibilities include the evaluation of all drilling prospects, identifying new developmental opportunities and supporting the engineering staff in evaluating developmental opportunities. Mr. Barton has managed all geological phases of oil and gas exploration/exploitation including prospect generation, project implementation, field activity coordination, critical analysis, and cross-functional teamwork. This was accomplished while working in a variety of positions for Rosewood Resources, Mack Energy Company, and Matador Petroleum. Mr. Barton has a very broad base of geological experience in a multitude of geologic basins within the U.S. and abroad. Mr. Barton graduated from the University of Nebraska with a Bachelor’s of Science in 1982 and a Master’s of Science in 1984. Mr. Barton has been the Publications Chairman of the Dallas Geological Society. He is a Texas Professional Geoscientist and a Certified Geologist of the American Association of Petroleum Geologists.
Mr. Rippy is responsible for: developing strategies and conducting negotiations to mitigate potential liability exposure, negotiating and drafting documents necessary to address complex land and legal issues, and insuring compliance with state and federal laws, rules, and regulations. Mr. Rippy is a Land and Legal professional with over 25 years’ experience in the oil and gas industry. Prior to his position at BĀSA, Mr. Rippy was Co-founder of an independent consulting group which developed divestment systems and provided due diligence and negotiations support in the sale of over $1 Billion of oil and gas assets. Mr. Rippy also assisted in the development and implementation of a professional organization to abate and mitigate liabilities associated with a major oil and gas company. Mr. Rippy was also a Senior Professional Consultant for Sun Exploration and Production Company and a Senior Landman for Atlantic Richfield Company and British Petroleum. Mr. Rippy holds a Bachelor’s Degree in Business Management from The University of Texas at Austin as well as a Doctorate of Jurisprudence from Texas Tech School of Law. Mr. Rippy is a member of the State Bar of Texas and the American Association of Petroleum Landmen (AAPL).
Mrs. Wallace is a Certified Public Accountant with over 25 years of experience in oil and gas and public accounting. Mrs. Wallace developed and implemented the accounting systems that support the more than $1 billion in assets that the firm manages. This includes over 10,000 working interest and royalty owners. Mrs. Wallace has effectively managed the departmental upgrades necessary to keep pace with the firm’s growth. Following her retirement in February 2017 Mrs. Wallace maintains a part time role with BĀSA handling all of the firm’s tax planning and preparation as well as certain treasury functions. Ms. Wallace is a graduate of Lake Superior State University in Sault Ste. Marie, Michigan with a Bachelor of Science in Accounting. Mrs. Wallace is a member of the Independent Petroleum Association of America, the American Institute of Certified Public Accountants, the Texas Society of Certified Public Accountants, and the Council of Petroleum Accountants Societies (COPAS).