JUNEAU EXPLORATION INDIA

Brad Juneau earned his BS in Petroleum Engineering in 1982 from Louisiana State University. Through his first job out of college he learned practical petroleum engineering while working in the field with Enserch Exploration and TIPCO in OKC from 1982-87. In 1987, he went to Zilkha Energy as the VP of Operations and Engineering. After a couple years of drilling wildcats onshore and offshore in the gulf coast, he realized that 3D was essential to exploration success when it was primarily used for development at that time. Brad discovered a to get new regional 3D data in GOM on a risk sharing basis (novel approach in late 80’s) and leases every 2D lead at minimum bid based on 2D data ahead of the 3D shoots that were in progress but not yet available. Economics based on 1:10 leads turning into prospects, in reality 1:7 were prospects and success rate was over 60% on these prospects.

Brad Took the company from the initial value of less than $10 MM in 1987 to a sale of $1.5 BN to Sonat in 1997 ($1 BN net after repayment of $500MM note to Enron Finance). After selling Zilkha, he partnered with Ken Peak to found Contango Oil and Gas with the strategy to obtain lightly used 3D data from onshore and offshore sources to drill wildcat wells. Key oil finding geologist from from Zilkha, John Miller, came along and in short order did a deal with Mestena Inc. in South Texas and found several new field discoveries in Queen City sands that took stock from $.20/share to $10/share. After drilling over 30 very successful wells on the Mestena ranch a major discovery was made on the Dutch/Mary Rose field in the Eugene Island area split between state/federal waters. This was a farmout from Unocal (later Chevron) and Devon in federal waters, and leased acreage from the State of Louisiana. The original estimate of reserves to partners were 400 BCF and 4 MMBO, with the actual results at almost twice that estimate. Stock went to $90/share bases on cash flow from this field. 

In 2008 Brad looked a potential oil and gas deal in the Eastern Interior of Alaska and quickly realized the best potential was in hard minerals, and after negotiating a lease and hiring Curt Freeman, a hard rock geologist in Fairbanks, a significant gold discovery was made which is now being developed as the first new hard rock gold mine in several years. In 2014, the CEO of Contango Oil and Gas, Ken Peak passed away from brain cancer and Brad exited the company after merger with Crimson. Now, Brad is currently working with Moncrief on the development of the ultradeep Tuscaloosa sand play at their Highlander field in S Louisiana, a 30,000' multi-TCF project.