The demographics of the oil and gas industry have had a huge role in the shaping of Daniel Smith’s career and, ultimately, the direction of Energy Capital Fund. Daniel has intentionally left several tremendous roles in order to continue the process of “rounding out his career.” The blue curve in the following figure, which was adapted from a similar graph produced by the Society of Petroleum Engineers, shows the abnormal age distribution in the industry that occurred because of the oil boom that occurred in the oil industry in the 1970’s and bust that ensued in 1982.
This led to a mass graduation of petroleum engineers between 1978 and 1982. After 1982, essentially no one entered the industry, leading to a vacuum of young people in the industry. When Daniel graduated from Texas A&M, he set out to capitalize on this discrepancy by obtaining as much experience as possible in all aspects of the oil and gas business before the majority of these experienced individuals retired. This plan has been twenty years in the making and the big “crew change” is underway. Soon the majority of professionals in the industry will be younger than 30 years of age. As that change happens, an exceptionally small number of petroleum engineers will have more than just a few short years of experience in the field.
For this reason we say that Energy Capital Fund is an oil and gas investment fund that’s built on the rare synthesis of petroleum proficiency and financial dexterity.
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