Management

Mr. Flumerfelt has over 25 years of experience in upstream engineering and engineering leadership. With a proven track record of value creation, Ray has taken on roles of increasing responsibility throughout his career.

At Pioneer Natural Resources, Ray served as Engineering Director over Pioneer’s Wolfcamp Shale Development. In this role, he was responsible for all engineering design aspects of Pioneer’s Permian Basin field development, including completions design (~$1 billion annual capital budget), well spacing, and artificial lift design. Under his leadership, Ray’s team was able to increase production per well each and every year. Over 4 years, this resulted in over 50% improvement in per-well recovery through completions designs alone. Other improvements in performance came from optimizing spacing and stacking strategies, targeting, and artificial lift. As Pioneer’s Corporate Engineering Manager, Ray reported directly to the COO and he was accountable for the quality of engineering work performed throughout the organization. Through recruiting, pay for performance, and other initiatives, Ray substantially upgraded the quality engineering work performed at Pioneer.

Ray has a track record of establishing quality positions in new plays and acquiring value adding positions to existing plays through acquisition. As Reservoir Engineering Manager during the start-up phase of Matador Resources, Ray was instrumental in helping Matador establish early positions in Haynesville Shale. At Shell, Ray helped lead Shell’s acquisition of Amoco’s Michigan Reef trend properties, increasing Shell’s position in the play by over 30%.

As a reservoir engineer, Ray has published numerous peer reviewed articles in SPE journals, taught industry short courses on a variety of reservoir engineering subjects, and has performed consulting studies for leading companies, such as Conoco Phillips, YPF S.A., and Colgate Energy.

Ray received his BS and MS degrees in Petroleum Engineering from Texas A&M University.