Stephanie Reed

As the shale revolution gained momentum, the Permian Basin transitioned from vertical development, commingling production from different zones, ultimately shifting to horizontal development with vastly larger completions and longer laterals. This evolution was a game-changer for the basin, the oil and gas industry, and the global economy.

It also propelled the career of Stephanie Reed, who started as a landman for Permian operator Parsley Energy during this pivotal era and is now a partner and senior executive at Formentera Partners.

“We had to pivot our mindset around segmented ownership, allocation and acreage geometry, which led to trades and the creation of tremendous value by being early movers to drive inventory creation,” she said, reflecting on that period. “We cut our teeth on drilling horizontal wells and building a company to effectively execute in this changing environment that required us to push the limits. Successfully navigating the challenges and opportunities of this shift led to a rerating of acreage valuations. We learned that by securing the footprint and allowing the industry to innovate—lengthening laterals and fine-tune completion designs—we would be well positioned to be fast followers and capture tremendous value.”

That mindset is shared by Formentera. 

“We’ve accumulated a lot of acreage held by production in Tier 2 areas across the Lower 48, and as the industry and development operations evolve and innovate, our position is primed for a rerating,” she said.

Reed considers Bryan Sheffield, Formentera’s managing partner and Parsley Energy’s founder, to be one of the greatest mentors of her career.

“Bryan is one of the most generous people you will ever meet—generous with his time and especially in discussions about failures and misses,” she said. “He leads by example, which taught me to own mistakes and remain humble throughout my career because there will be hills and valleys. This advice has made me a better leader.”

There is a lot to learn from those who pioneered this industry, Sheffield told her. Reed took his advice to heart, recognizing the importance of reading, listening and learning as much as possible from those around her.

“In addition to Bryan, I’m incredibly fortunate to have worked with many long-term colleagues that have had a hand in shaping my career, including Matt Gallagher, Paul Treadwell, Carrie Endorf and Blake London.” 

Other key influences in her career include two friends from her time at Texas Tech: John Sellers and Cody Campbell, cofounders of Double Eagle Energy. 

“I have tremendous respect for both of them, as I witnessed the early days of small land deals that led to more strategic risk and, ultimately, to building one of the best private E&P companies in the Permian, twice over,” Reed said. “They are a prime example of the tremendous value that can be built in this industry by taking calculated and opportunistic risks, sticking to a steadfast vision and building a team focused on execution. I’m proud to call them friends.”

Now leading her own teams, she seeks to create a culture of trust, mutual respect and continuous improvement.

“True leadership isn’t about commanding from above; it’s about clearly communicating a vision and fostering an environment where contributors feel valued, empowered and accountable,” she said. “This mindset, deeply rooted in ownership and accountability, has shaped my leadership philosophy and approach.”

Reed, a former college basketball player, describes herself as “incredibly competitive.” One of her early goals was to make a meaningful impact on her team’s success, whether concerning deals or operations, by driving results and positioning her colleagues to be opportunistic and seize opportunities.

“I bring this mindset with me to the office every day and my team embodies this approach,” she said. “It’s hard to secure big wins if we don’t take care of the small wins day to day.”

Reed’s advice to young professionals in the energy industry mirrors that of Sheffield.

“My advice is to stay eager and hungry for opportunities but balance that ambition with the humility to listen and learn,” she said. “The energy sector is complex and ever-changing, so being open to guidance and absorbing knowledge from experienced colleagues is invaluable.”

Check out the rest of Hart Energy's 2025 Women in Energy here.