Ryan Vinson, CEO and co-founder of Fort Worth, Texas-based MineralWare, is today’s featured Forty Under 40 honoree.
Vinson’s first experience in oil and gas was as a roughneck on an oil rig at age 17. Out of college, he worked as a landman. Over the years, however, he recognized an unfilled need for a better-organized source for oil, gas and mineral asset management.
At the age of 30, with a newborn at home and a new home under construction, he quit his job to start a mineral management company called MineralWare with two other partners. They boot strapped the company for three years with a $40,000 loan and grew the company with existing cash flow.
A new opportunity arose once Vinson met Larry Brogdon, whose investment and partnership fueled the accelerated growth of the company. Since then, each year MineralWare has doubled or tripled the prior year’s recurring revenue.
“We set a bold goal in 2016 to increase our monthly recurring revenue 10X by 2020,” Vinson said. “We achieved this milestone a year and a half early. Our team’s commitment to our success was the key reason we achieved it earlier than expected.”
Click here for Ryan Vinson’s complete profile.
Take a look at all of the Forty Under 40 honorees.
Recommended Reading
Permian Resources Completes Liquidation of Canada’s Lynden Energy
2024-05-28 - Permian Resources said the liquidation of Lynden Energy, a subsidiary of Earthstone Energy, will simplify its corporate structure and reduce go-forward tax obligations at the time of the Earthstone acquisition.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.
Dividends Declared in the Week of May 6
2024-05-10 - Here is a selection of upstream, midstream and service and supply companies’ dividends declared in the past week.
Petrobras CEO Prates to Step Down
2024-05-15 - Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.
China Not Continuing Mega Oil-backed Loans to Latin America
2024-06-18 - China, which lent around US$120 billion to Latin America and the Caribbean between 2005-2023, isn’t expected to resume the mega oil-backing loans of yesteryear as the focus turns to debt negotiations.