private wealth

Legacy Oil and Gas Family Boosts Earnings, Confidence With PW Energy

private wealth management
Since 1931, the McCallister family has built a legacy working in and prospering from the oil and gas industry. Over time, the family’s interests diversified, and they hired a team of landmen to manage their mineral assets. Four decades later, retirement was approaching for most of these land managers, and the McCallisters faced important decisions about the security of their mineral interests.

The Challenges

Navigating a Smooth Transition of Knowledge

Recent generations of the family had become less involved in the mineral side of the business, so they had been relying on the land team for adequate asset performance and reporting. As the McCallister family looked ahead, they considered several crucial questions for their business:

  • Do we commit the time and resources to rehire full-time land management staff?
  • Can we efficiently find people we trust who have holistic expertise in this nuanced industry?
  • How can we ensure a thorough transition of records and knowledge—and ideally only do it once? 
  • Is there an opportunity here to further optimize our revenue and tax strategies?

The Solution

A Future-Proof Plan From Experts With Hands-On Experience

The McCallister family met with the PW Energy team to review their business interests and discuss their concerns for a smooth management transition. Their advisory team laid out a comprehensive course of action to help the McCallisters transition their assets with confidence. This process had five goals:

  1. Analysis: The family’s key partners were gathered and all their interests were reviewed to build a full picture of their business.
  2. Optimization: PW Energy’s sophisticated web-based accounting system allowed anyone in the family to check on revenue and production in real-time.
  3. Awareness: The PW Energy advisory team organized ongoing check-ins to help educate family members on the details of managing their assets. 
  4. Succession of Knowledge: PW Energy’s intentional advisor succession strategy helped the family feel confident that as their assets pass from generation to generation, so will the knowledge-base around their family business.
  5. Proactive Management: Through their research and unmatched network, PW Energy delivered the family new opportunities for revenue and growth.

The Results

Confidence and Proactive Management

The McCallisters once again have a trusted team of partners who understand the details of their mineral holdings—without the challenges of hiring a full internal staff. They have renewed confidence in the long-term security of this part of their legacy and have even seen enhanced returns on their assets thanks to the proactive strategy from their PW Energy team.

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