What is Stevens?
Read & Stevens, Inc. has been a fixture in the energy sector since 1963, specializing in the development and management of oil and gas assets across the Permian Basin of Southeast New Mexico and West Texas. The company prides itself on a diversified group of experienced energy managers dedicated to upholding successful traditions. For the past 15 years, R&S has consistently ranked among the top 50 operators out of 635 in New Mexico. Currently operating over 200 wells, the company also holds significant royalty and working interests in its core operational areas. Their approach emphasizes professionalism and a personal touch in acquiring, developing, and managing energy assets, aiming to maximize economic returns through direct ownership and management.
How much funding has Stevens raised?
Stevens has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
Key Investors in Stevens
PPP
Public-Private Partnership
What's next for Stevens?
The recent large-scale, late-stage funding, characterized as a major strategic investment, positions Stevens for enhanced operational capabilities and potential market consolidation within the Permian Basin. Given its long-standing operational history and consistent ranking among New Mexico's top oil lease operators, this capital infusion is likely to support the expansion of its existing well portfolio, exploration into new reserves, and the adoption of advanced energy management technologies. The strategic nature of the investment suggests a focus on long-term value creation and strengthening its competitive advantage in a dynamic energy market.
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