About Mountain V
From theBeginning
From humble beginnings in the mountains of West Virginia, Mountain V has expanded its footprint into seven states and currently operates over 3,100 conventional and unconventional wells. With a focus on exploration and production, leveraging cutting-edge technologies and a commitment to excellence, we are dedicated to meeting the goal of achieving energy independence responsibly.
From discovering new reserves to efficiently extracting and operating the resources, our integrated operations ensure a reliable and sustainable supply chain. At Mountain V, we pride ourselves on adhering to the highest health, safety, and environmental standards, underscoring our dedication to responsible and ethical practices in every facet of our operations.
Together, our strengths form the foundation for Mountain V’s success.
- Our People and Entrepreneurial Culture
- Rigorous Execution, Development capabilities and Operational Expertise
- Asset Footprint and Commodity Diversification
- Strong Stakeholder Support and Alignment
- Continuous Improvement and Innovation
- Safe and Reliable Operations
OurMission
Our mission is to continually improve and strengthen our position as a leader as an Appalachian Oil and Gas producer for the energy needs for both today and tomorrow
We Will Achieve this through:
Best-in-class safety, asset integrity, reliable performance, and the continuous improvement of our assets, operations, projects, and people.
An unwavering commitment to environmental, social and governance responsibility, regulatory compliance, and community engagement. Our core values guide our actions, emphasizing safety, environmental stewardship, integrity, and collaboration.
Disciplined financial management across the organization focused on efficient operations and maintaining a strong financial position. We aim to strengthen our position as the low-cost producer in the region.
Investing intelligently to expand and diversify our portfolio to mitigate geographical and commodity price risk factors and maximize the value of our resources while minimizing environmental impact through cutting edge technologies and ethical practices.
We are dedicated to fostering a culture of continuous improvement, empowering our employees to drive innovation and achieve operational excellence. Together, we aspire to contribute to the advancement of a sustainable energy future for generations to come.
OurVision
Our vision is to create long-term value for all stakeholders and to maximize investor returns through our strategy of acquiring, optimizing and managing existing natural gas and oil assets.
Our Goals
Our growth and capital return framework stems from our unique business model and successful execution of straight-forward, low-risk and proven operating techniques. By recompleting untapped reserves in previously completed wells, deliver enhanced returns to our investors.
We focus on acquiring existing long-life, low-decline producing wells and, at times, their associated midstream assets, and then efficiently managing the assets to improve or restore production, reduce unit operating costs, reduce emissions, and generate consistent Free Cash Flow
Leverage our vast acreage position and improve reserves in the vastly untapped but proven resources in the Marcellus and Upper Devonian Shales in West Virginia and Pennsylvania and the various sandstone formations in Kentucky.
How We'll Get There
Moving
Moving faster than our peers to identify and source undervalued opportunities through holistic data analytics of geological characteristics, resource evaluation and risk parameters.
Investing
Investing intelligently and nimbly in scalable projects with the help of a robust balance sheet and long history of closing transactions.
Safely Operating
Safely Operating with excellence, performing all aspects of operations safely, consistently and a lower cost than the competition
Engaging
Engaging and communicating with our people, communities, partners and stakeholders
OurHistory
1994
Father and son team Steve and Mike Shaver found the business with a purchase of a package of 100+ West Virginia conventional natural gas wells while still working as a drilling contractor for other major producers in the basin
1995-1999
Acquire an additional 280 conventional wells in West Virginia and expands the company into Pennsylvania signaling arrival of a major player in the basin.
2000-2003
Mountain V grows as a company through a combination of acquisition and drilling. Organically drilling over 50 wells coupled with a landmark acquisition of 230 conventional wells from Enervest and Cabot resources in Pennsylvania.
2004-2005
Through a diligent operation and a high watermark for Natural Gas pricing, Mountain V strategically divested a 280 well package to Linn Energy in Pennsylvania. The company also drilled over 80 conventional wells solidifying its position as a leading driller in the basin.
2006-2010
Mike Shaver takes over as President of Mountain V. Cashing in on the frenzy of acquiring drilling rights in what will become the leading Natural gas basin in the US, divests a package of 275 conventional wells to EXCO Resources in a basin-leading transaction multiple at the time. The company also drilled 350 wells in that time entrenching itself as a Driller and Operator with a best-in-class safety and cost profile.
2011-2015
Company is launched into a hyper-growth mode, growing its footprint in West Virginia and Pennsylvania by acquiring over 650 wells and drilling 50 wells harnessing its expertise in drilling and completions of conventional natural gas wells and synergies through the operations team.
2016-2020
With Natural Gas commodity pricing at a low ebb in this five-year period, Mountain V realizes an opportunity to acquire distressed assets and create investor value by enhancing the production from these wells through a combination of its unique geographical footprint, cost reductions and turn these assets into profitable ventures. Mountain V acquired over 1,250 wells in this timeframe while strategically divesting 550 of its non-core assets.
2021-2024
In 2023, Mountain V diversified its asset base geographically through an acquisition of AXP Energy, an Australian oil and gas company with assets in Tennessee, Kentucky, Virginia, Illinois, and Indiana. Through this acquisition, the company also diversified its commodity mix to include Oil. In 2022, The company embarked on drilling unconventional horizontal wells in West Virginia and has completed a set of 4 wells.
OurTeam
From discovering new reserves to efficiently extracting and operating the resources, our integrated operations ensure a reliable and sustainable supply chain. At Mountain V, we pride ourselves on adhering to the highest health, safety, and environmental standards, underscoring our dedication to responsible and ethical practices in every facet of our operations.
Leadership
Mike Shaver
Ganesh Sakshi
Jason Jenkins
Management
Brittany Ellyson
Mountain VResponsibility
Our mission is to continually improve and strengthen our position as a leader as an Appalachian Oil and Gas producer for the energy needs for both today and tomorrow.
To do good by our communities, our environment, and our people. And to be an enduring company that makes the mission – and even more – possible.
Impact
7 States where we operate and develop our assets
Scale
3100+ wells in production
Trust
3200+ Landowners hosting our projects
Partnership
$150K investment in local communities each year
Team
80+ employees who make it all possible
Contribution to Communities
Oil and natural gas projects transform communities
Investing in Healthy Economies
- Adopt a School
- Direct Donations
- Event Sponsorships
- Training a Workforce
- Site Tours
