About Us


Fundare Resources Company, LLC is an exploration and production company headquartered in Denver, Colorado focused on developing prolific oil and gas reserves across North America. Fundare was founded by the experienced management team behind the successful Fifth Creek Energy Company and the four Bonanza Creek Energy companies.  Our management team has operated oil and gas assets for nearly two decades.  Fundare is built on a foundation of strong assets managed with our core values of Integrity, Teamwork and Transparency; proven principles that have resulted in repeated success.

Predecessors to Fundare Resources, a History of the “Creeks”


Mike Starzer formed the first of five “Creek” companies in 1999 with the initial acquisition of assets in the Wattenberg Field in Colorado. Pat Graham joined Mr. Starzer in 2001 and together they built an operating and technical team that has worked together over the past twenty years. Mr. Graham leads this team of highly trained specialists with industry expertise in all aspects of operations and development.

The five Creek companies invested $753 million in equity and returned in aggregate $2.46 billion of value to investors achieving an average 3.3x ROI and 39% IRR. The fourth Creek company, Bonanza Creek Energy, Inc. (NYSE: BCEI), successfully executed an IPO in December 2011 at $17.00/share. During the two and a half years following the IPO, BCEI grew to a $3 billion enterprise trading as high as $61.35 per share in June 2014. In 2012, BCEI received the “Best Performance of the Year” award from the O&G Investor and achieved a record low coupon for a first time Single B rated E&P issuer in a $500 million offering of public debt (two tranches). BCEI was the recipient of the “2013 Colorado Corporate Growth Award” from the Association for Corporate Growth recognizing the Bonanza Creek companies for consistent and profitable growth and job creation.

Fifth Creek Energy Company (“Fifth Creek”) was founded by Mr. Starzer and Mr. Graham in March 2015 and built an 80,332 contiguous net-acre position in the northern DJ Basin. Fifth Creek applied advanced horizontal drilling to 20 two-mile lateral wells in both the Niobrara and Codell formations. The company completed 10 of the two-mile lateral wells with advanced multi-stage frac technology achieving an average IP30 of over 1,000 Boe/d with an average liquids weighting of 91%. These 10 completed wells were among the all-time best producers in the basin. In March 2018 Fifth Creek merged with Bill Barrett to form HighPoint Resources in a predominately stock transaction achieving a 3.7x ROI and an IRR of 106% over a 3.2 year period (March 2015 – May 2018).

Each of the Creek companies acquired and developed oil and gas assets located primarily in the Rocky Mountain Region and southwest Arkansas, applying technological advances in horizontal drilling, multi‐stage fracture stimulation and pin‐point fracturing with coil tubing. The Creek companies successfully applied multiple corporate structures and financings to maximize the return for investors, including private equity, mezzanine, second lien debt, side car equity investments, corporate mergers and joint ventures, and, successfully accessed public equity and debt markets. In addition, the Creek companies completed multiple senior debt transactions with premier lenders, including Wells Fargo, JP Morgan, Bank of Montreal, US Bank, Key Bank, Union Bank, Bank of Oklahoma, BNP Paribas and Macquarie. The Creek companies’ reputation for generating exceptional returns within a culture of Integrity, Teamwork and Transparency has resulted in each company being recognized among the best managed E&P organizations.

Management


  • 36 years industry experience; Registered Professional Engineer in Petroleum Engineering with Master of Science in Engineering Management
  • 20-year / Five company investment track record managing $753 million in investor funding and over $1.1 billion in development investments
  • Driven to Maximize Investor Returns – successfully utilizing multiple corporate and financing structures
  • Founder of the Bonanza Creek companies, Co-founder of Fifth Creek Energy
  • Successfully led an IPO and achieved top performance results and investor returns
  • Public and private company industry board experience and relationships

Mr. Starzer has 36 years of experience in the oil and gas industry and has served as a director for multiple private and three public companies. In 1999, Mr. Starzer co-founded the first of five “Creek” companies where he served in positions as Chairman, Founder and Managing Partner, President and CEO, and, as a director on the board for each company. Through equity investments of $753 million over a 20-year period, the Creek companies returned $2.0 billion to investors achieving an average Return on Investment (ROI) of 2.7x and an Internal Rate of Return (IRR) of 37% per annum (detail provided in Investment Track Record Summary). Each of the Creek companies achieved excellent returns for investors through acquiring and developing conventional and unconventional oil and gas assets located primarily in the Rocky Mountain Region.

The most recent company, Fifth Creek Energy, was founded in March 2015 with institutional private equity provided by the premier investment firm Natural Gas Partners, in addition to previous investors in the earlier Creek companies. In December 2017, Fifth Creek Energy was strategically positioned for a public market exit through a merger with Bill Barrett Corporation to form HighPoint Resources (NYSE:HPR), a leading Rocky Mountain oil and gas company focused on oil-weighted unconventional development. Mr. Starzer currently serves on the public board of HighPoint Resources. From 2013 to 2018 Mr. Starzer served on the public board of Newalta Corporation (TSX:NAL), a Canadian-based service provider of engineered environmental solutions for the oil and gas industry, until completion of a merger between Newalta and Tervita Corporation (TSX:TEV).

Mr. Starzer is a member of the National Association of Corporate Directors (U.S.) and a member of the Institute of Corporate Directors (Canada). He is a Registered Professional Engineer in Petroleum Engineering and is a member of the prestigious Society of Petroleum Evaluation Engineers. Mr. Starzer has represented the energy industry providing expert witness testimony on technological advances and the impact of taxation and regulation policies on industry investment. He has authored and presented technical articles on technological advances and development optimization .

Mr. Starzer has a Bachelor of Science degree in Petroleum Engineering from the Colorado School of Mines and a Master of Science degree in Engineering Management from the University of Alaska and is a founding member of the Colorado School of Mines Pi Epsilon Tau Honor Society in Petroleum Engineering. Mr. and Mrs. Starzer serve on multiple charitable boards and in 2012, established the Starzer Scholarship Foundation providing financial assistance for postsecondary education. In 2013, Mr. and Mrs. Starzer were awarded the Mines Medal by the Colorado School of Mines for exemplary service to the industry.

  • 33 years industry experience, Petroleum Engineering degree from Texas A&M University
  • Business Development Leader for the Bonanza Creek companies, Co-founder of Fifth Creek Energy
  • Focused expertise in evaluating, negotiating, conducting due diligence and leading the implementation of post-acquisition business plans
  • Member of executive team successfully executing an IPO and achieved top performance results and investor returns
  • Industry expertise in well completion and multi-stage fracture stimulation treatments in unconventional developments
  • Attracts high performance operating teams

Mr. Graham is a Managing Partner and leads the business development activities of Fundare Resources, LLC.  Previously, Mr. Graham was Founder and Chief Operating Officer responsible for corporate development activities for Fifth Creek Energy Operating Company, LLC.  Under his guidance, Fifth Creek acquired the Hereford Ranch assets from a large independent operator, increasing oil and gas production from 800 boe/d to a peak rate of 4,550 boe/d.  He retired from Fifth Creek Energy upon the successful merger with Bill Barrett Corporation creating HighPoint Resources.

Since joining the first Bonanza Creek Company in 2001, Mr. Graham was instrumental in evaluating, negotiating to closing, and leading the implementation of post-acquisition business plans for over 30 significant acquisitions.  Beginning in 2010, the Rocky Mountain operations, land, marketing and corporate development for Bonanza Creek Energy reported to Mr. Graham, setting the stage for a successful IPO in 2011.  Mr. Graham retired from Bonanza Creek as Executive Vice President of Corporate Development in 2014.

Mr. Graham began his 33-year career designing and implementing well completion and stimulation treatments on conventional and unconventional wells located in highly technical and environmentally sensitive areas.  These areas included the North Slope and offshore Alaska, offshore California and the DJ Basin in Colorado.  With expertise in well completion and stimulation design (particularly hydraulic fracture stimulation), Mr. Graham applied this experience in evaluating underexploited acquisition candidates across the United States and Canada.  Mr. Graham has expertise in the full spectrum of fracturing from the selection of stimulation candidates to post-frac analysis, including radioactive and chemical tracers and micro-seismic procedures.

Mr. Graham earned a degree in Petroleum Engineering from Texas A&M University where he is a member of the Petroleum Engineering Advisory Board.  He has established a Fellowship within the Department of Petroleum Engineering with the goal of advancing the study of hydraulic fracturing.  Mr. Graham also supports the Equine Initiative at Texas A&M, is a committee advisor to the American Indian College Fund, and participates in the Leopold Conservation Award Program with the Colorado Cattlemen’s Agricultural Land Trust.

  • 20 years industry experience, Engineering degree from Texas A&M University and MBA from the University of Denver
  • VP of Engineering at Fifth Creek Energy, Business Development Director at Bonanza Creek Energy
  • Executive at Cureton Midstream, a DJ Basin gas midstream company with a 60 MMCFD cryo plant and over 140 miles of pipe in Weld County Colorado
  • Led the formation and commercialized Bonanza Creek’s midstream company Rocky Mountain Infrastructure (RMI)
  • Focused on creating shareholder value through strategic transactions and running a streamline organization

Mr. Truitt is the President of Fundare Resources, LLC and is responsible for executing the business plan and running the day-to-day activities of the company.  Previously, Mr. Truitt was the VP of Engineering at Fifth Creek Energy and oversaw the successful delineation of the Hereford Field and added an additional 25,000 net acres in a six-month span through a combination of acquisitions and an active infield leasing program.  After the Fifth Creek Energy merger with Bill Barrett, Mr. Truitt went to Cureton Midstream as the Chief Commercial Officer and led the commercial activities for the company for 2 ½ years and is still an advisor for the company.

Mr. Truitt met Pat Graham and Mike Starzer in 2012 at Bonanza Creek and worked on corporate development overseeing the companies BD and marketing activities.  He divested Bonanza’s non-core California assets and helped expand Bonanza Creek’s footprint in Colorado and Arkansas through multiple transactions.  This is Mr. Truitt’s third iteration working with Mike and Pat building and operating successful companies.

Mr. Truitt began his 20-year career as a pumper in College Station while attending Texas A&M University.  He started professionally at Denali Oil & Gas and was both an engineer and geologist on projects throughout his 6 ½ years with the company.  Denali O&G was a conventional exploration company with successful ventures along the Gulf Coast (Frio, Vicksburg, Wilcox), Nesson Play in North Dakota, Sacramento Basin, and the Eagle Ford.

Mr. Truitt earned a degree in Engineering from Texas A&M University and MBA from the University of Denver.  He is involved in the Big Brothers Big Sisters of America program where he has been matched with his Little for 5 years now.  Mr. Truitt is also a Social Change Partner with the Youth Roots organization in the Denver area.

  • 20 years of accounting and industry experience, MS in Accounting from University of Colorado at Denver and degree in Finance from Fort Lewis College.
  • Chief Accounting Officer at Fifth Creek Energy
  • Public and private transactions and compliance experience
  • Known for driving organization improvements and implementing best practices.

Mr. Linhardt is the Chief Accounting Officer of Fundare Resources, LLC and is responsible for executing the business plan and overseeing accounting and treasury functions of the Company. Recently, Mr. Linhardt was the V.P. of Accounting at RockHouse Oil, LLC. He oversaw the accounting function of the Company and was a key contributor in valuation of business opportunities. Previously, Mr. Linhardt was the Chief Accounting Officer at Fifth Creek Energy and oversaw the accounting, treasury, human resources, purchasing, and information technology departments at the Company. Under his guidance, he ensured the Fifth Creek was SEC compliant for a public exit resulting in the Company executing a merger transaction with Bill Barrett Corporation to form HighPoint Resources.

Mr. Linhardt met Mike Starzer and Pat Graham in 2009 and was the Senior Audit Manager at Hein & Associates for Bonanza Creek Energy audit engagement until 2015. He led the assurance engagement team for Bonanza Creek Energy’s IPO, public bond offerings and financial statement audits.

Mr. Linhardt began his career in public accounting where he directed multiple engagement teams in audit services including financial statement audits, merger and acquisitions, evaluation of internal controls for publicly traded companies and privately held clients in the oil and gas, mining, alternative energy, and manufacturing industries.

Mr. Linhardt has a Bachelor of Arts degree in Finance from Fort Lewis College and a Master of Science degree in Accounting from University of Colorado at Denver. Mr. Linhardt is a member of the American Institute of Certified Public Accountants (AICPA), and the Colorado Society of Certified Public Accountants (CSCPA). Mr. Linhardt recently finished serving 7 years as a board member with the Marion Downs Center for Hearing and Speech.

  • 33 years of oil and gas industry experience
  • Expert in oil and gas transactions
  • Successfully organized the land departments for Fifth Creek and Bonanza Creek
  • Extensive land experience in California and the Rocky Mountain region

Michael McPhetridge has over 33 years of experience in the Oil and Gas Land business, starting as an oil and gas broker in California in 1986. Mr. McPhetridge transitioned to a startup company, California Exploration, Inc., in 2000 and developed a strong background in company building from heading the Land Department to merger and acquisitions, company public relations and regulatory.

Mr. McPhetridge met Mike Starzer and Pat Graham in 2006 and served as Land Manager and V.P. of Land for Bonanza Creek Energy, Inc. until July of 2013. In the interim, Mr. McPhetridge helped Bonanza Creek Energy, Inc. expand their acreage footprint from California into Wyoming, Colorado and Arkansas as well as building simultaneous land staffs in both Bakersfield, California and Denver, Colorado to serve Bonanza Creek Energy, Inc., which went public in December of 2011.

Mr. McPhetridge formed RMM Energy Partners, LLC in 2013 and served as a consultant for several California Oil and Gas companies for M&A and A&D opportunities. He joined Fifth Creek Energy in April 2017 to help monetize the new company headed the Land Department and pursued acquisition opportunities to grow the company until the merger with Bill Barrett Corporation in March 2018.  Mr. McPhetridge has served as a Director for American Association of Petroleum Landmen (2006 to 2014), President of Bakersfield Association of Professional Landmen (2008) including several continuing roles, is a member of the Denver Association of Petroleum Landmen and the Wyoming Association of Petroleum Landmen. He also serves as a Chairperson for the annual West Coast Landman’s Institute in California as well as several local Charitable Foundations.

Contact Us


Michael (Mike) Starzer

Patrick (Pat) Graham

Managing Partner, Business Development

pgraham@fundareresources.com

J. Cody Truitt

Mike McPhetridge