RSP Permian, Kimbell Royalty Partners announce passing of director Ted Collins, Jr.
RSP Permian, Inc. (ticker: RSPP) announced that Ted Collins, Jr. passed away unexpectedly on January 28, 2018.
Collins was appointed to the RSP Permian board in January 2014 and had a distinguished career in the oil and gas business for over 50 years, the company said in a statement.
“On behalf of the Board of Directors and the entire RSP Permian team, we want to extend our deepest sympathies to Ted’s family,” stated Steve Gray, Chief Executive Officer of the Company. “In addition to being a good friend and a prominent figure in the energy industry, he was a valued member of the RSP Permian family and we are forever grateful for his contributions.”
Kimbell Royalty Partners, LP (ticker: KRP) also announced the passing of board member Ted Collins, Jr. Collins joined the board of directors of KRP’s general partner at the time of KRP’s initial public offering in early 2017.
“Ted’s distinguished career in the oil and gas exploration and production business spanned more than five decades, and we are very sad to lose him both as a good friend and as a wise counselor to Kimbell Royalty Partners. We will miss his advice, sense of humor and friendship,” said Robert Ravnaas, Chairman and Chief Executive Officer of Kimbell Royalty Partners’ general partner.
Silverback Exploration, where Collins served as non-executive advisor, provides the following biography for Collins:
Ted Collins is a veteran in the industry, with more than 55 years of experience developing and managing oil and gas companies. As co-founder of Collins and Young, LLC, Mr. Collins worked with George Young to assemble an interest in more than 100,000 acres in the Barnett Shale, primarily in a joint venture with Chief Oil & Gas, which ultimately resulted in more than $3 billion in asset sales.
Additionally, as president of Collins and Ware, LLC from 1988 to 2000, Mr. Collins purchased Permian Basin oil assets from Amerada Hess Corporation for $60 million and South Texas gas producing assets from Union Pacific Resources for $149 million. The company increased the value of these assets through drilling and well workovers and later sold them to Apache Corporation in 2000 for approximately $315 million. In addition to founding Collins and Young and Collins and Ware, Mr. Collins served as president of HNG Oil Company, which later became Enron Oil and Gas Company, and executive vice president of American Quasar Petroleum.
Mr. Collins serves on the Board of Directors for Energy Transfer Partners (NYSE: ETP), Oasis Petroleum (NYSE: OAS) and CLL Global Research Foundation. He is the recipient of numerous industry awards and honors including the 2006 AAPL Lifetime Achievement award, 2008 Permian Basin Petroleum Association Top Hand award, and induction into the Permian Basin Petroleum Museum Hall of Fame in 2009. Mr. Collins is a past President of the Permian Basin Petroleum Association, the Permian Basin Landman’s Association, the Petroleum Club of Midland and has served as chairman of the Midland, Texas Wildcat Committee since 1984.
