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  • Family Offices Going Direct: From Passive Investing to Control.
    2026/04/07
    Family offices and private investors are increasingly moving beyond traditional passive investments and stepping directly into oil and gas deals—but direct investing comes with both opportunity and risk. In this episode of An Ounce of Prevention, host Rachel Reese sits down with Rebecca Stehle, founder of Aquaerial, to discuss how investors are navigating the evolving energy investment landscape and why technical expertise still matters when evaluating deals.Rebecca shares her path from reservoir engineer at ExxonMobil to entrepreneur building a non-operated oil and gas investment platform. After spending more than a decade working in technical roles focused on asset management and reserves in the Permian Basin, she transitioned into the family office world, where she sourced and evaluated energy investments across multiple sectors. That experience ultimately led her to launch Aquaerial, a platform focused on identifying high-quality non-operated opportunities and connecting them with capital.In the conversation, Rachel and Rebecca explore the rapid growth of family office participation in direct investments and how the model is evolving. Family offices that once invested primarily as limited partners in private equity funds are increasingly seeking direct control over deals, governance rights, and portfolio companies. While this shift can offer greater returns and strategic influence, it also introduces operational complexity, requiring specialized expertise, disciplined due diligence, and the ability to manage assets over the long term.Rebecca also explains how non-operated oil and gas investments work and why certain deal structures—such as AFE or “pre-first-production” interests—can provide attractive returns with relatively short timelines to cash flow. She discusses the importance of diversification in non-operated portfolios, the role of subsurface expertise when evaluating drilling opportunities, and why not every deal that offers appealing tax benefits ultimately represents a sound investment.Before the conversation begins, Rachel delivers a case law update on Abramowski v. Nuvei Corp., a recent decision from the Third Circuit Court of Appeals addressing the SEC’s “best price rule” in tender offers. The court clarified that the rule governs the price paid to shareholders when their shares are purchased, but it does not require an acquiring company to purchase every share tendered if the offer is subject to contractual conditions—such as requirements that shares be free of liens, restrictions, or other encumbrances. The decision highlights the importance of carefully drafted merger agreements and the role of legal counsel in structuring tender offers and shareholder transactions.If you’re interested in oil and gas investment strategy, family office capital trends, non-operated deal structures, or how legal and technical expertise intersect in energy investing, this episode offers a practical look at how experienced investors evaluate risk, structure deals, and build long-term investment platforms in today’s energy market.Time Stamps / Chapters00:00 — Episode teaser 00:21—Introduction to An Ounce of Prevention00: 54— Host introduction and case law update setup01:01 — Abramowski v. Nuvei Corp.: overview of the securities dispute02:19 — The SEC’s “best price rule” and the issue on appeal03:22 — Why the court ruled the rule does not require purchasing all tendered shares03:46 — Practical takeaway for companies structuring tender offers04:17 — Guest introduction: Rebecca Stehle, founder of Aquaerial04:40 — Rebecca’s career path: Cornell PhD to ExxonMobil reservoir engineer05:22 — Transitioning from corporate roles to the family office world07:12 — How family offices are evolving toward direct investing08:55 — What it takes for a family office to operate deals directly10:31 — Pros and cons of moving from passive investing to direct deals11:35 — RR&A: Expanding Beyond Oil & Gas 13:09 — Launching Aquaerial and taking the first investment risk15:04 — Understanding non-operated AFE deals and quick-cycle investments15:38 — Leasehold non-operated deals and higher-risk opportunities16:33 — The potential in well re-entries and mature Permian assets17:33 — Co-investing and splitting larger working interests18:53 — The shift toward institutional capital and investment funds20:57 — Tax advantages vs. the importance of subsurface expertise21:26 — Closing remarks and episode wrap
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    24 分
  • Done Right: RR&A’s Approach to Preventing Title Problems
    2026/03/24

    Title examination may happen behind the scenes, but it plays a critical role in protecting ownership, validating mineral interests, and preventing costly issues before they arise. In this episode of An Ounce of Prevention, guest host Kaysha Spoon, Associate at R. Reese & Associates, explains how the firm delivers title opinions that go beyond accuracy to become practical, decision-making tools for clients. She walks through how RR&A implements strict quality control checks to eliminate rounding errors and verify decimal interest (DOI) calculations, while also closely analyzing oil and gas leases for overlooked requirements such as pooling provisions and unit declarations, and identifying both title defects and curative issues, clearly distinguishing between high-risk defects that impact ownership and operations and lower-risk issues that may not require immediate action.

    Kaysha also explains how proactive communication during the title examination process allows clients to begin curative work earlier, and how visual chain of title flowcharts creates transparency in ownership calculations. She discusses how RR&A improves efficiency by resolving issues quickly to reduce costs, while offering flexible formats, including dynamic Excel-based title opinions that allow teams to track curative requirements, prioritize risk, and integrate title work directly into their operational workflow.

    In addition, the episode includes a caselaw update on Buyers Peak Properties v. Buyers Peak Land and Cattle, LLC, a recent Colorado Supreme Court decision clarifying that Colorado’s statutory waste of water provisions cannot be enforced by private landowners and that related trespass and nuisance claims may not survive if the statutory theory fails, highlighting important considerations for landowners dealing with irrigation disputes.

    Overall, this episode demonstrates how RR&A’s thoughtful, modern approach to oil and gas title examination protects client assets, streamlines operations, and delivers actionable, practical value beyond the final opinion. Listen to this episode and you’ll see why RR&A is the title firm clients trust to get it right, every time.

    Time Stamps / Chapters:

    00:00 Introduction to the podcast

    00:25 Host intro

    00:37 Colorado water law case overview

    01:07 Ranch dispute and irrigation conflict

    01:31 Lawsuit, claims, and water court ruling

    02:05 Supreme Court issue: standing & private rights

    02:32 Why the statute cannot be privately enforced

    02:55 Why flooding claims don’t qualify under statute

    03:21 Jurisdiction shift and dismissal of claims

    03:46 Why this case matters for landowners

    03:56 Transition to title examination discussion

    04:14 Preventing errors in title work

    05:06 High-risk vs low-risk title defects

    06:06 Making title opinions practical and usable

    07:16 Efficiency and client-focused workflows

    07:34 Closing remarks on title examination importance

    07:42 Firm overview and services

    09:14 Legal disclaimer

    09:27 Outro and contact info


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    10 分
  • Breaking the Bottleneck: How a COO Unlocks Your Performance Equation with Kate Heiken, Wayfinder Energy
    2026/03/10

    If you’re a founder who feels stuck in firefighting mode, a fractional COO/execution partner may be the fastest way to remove bottlenecks and scale with clarity.

    In this episode of An Ounce of Prevention, host Rachal Reese sits down with Kate Heiken (Founder of Wayfinder Energy) to break down what execution really looks like when a company is growing, and how to tell when you’ve outgrown your current capacity.

    You’ll learn the warning signs leaders miss (like delayed decisions, missing metrics, and rising miscommunications), why the COO role is often misunderstood, and how documenting processes + installing KPIs can de-risk your operations and build trust as you scale.

    Time Stamps / Chapters:

    00:00:00 — When founders feel “compression” and constant fire-fighting

    00:01:00 — Show intro: “An Ounce of Prevention”

    00:01:24 — Case law update: Illinois National v. Harman (overview)

    00:02:20 — What “inadequate deal consideration” and “bump up” mean

    00:03:17 — Delaware Supreme Court’s two-step analysis for the bump-up provision

    00:04:27 — Why insurers failed to prove the settlement increased consideration

    00:05:08 — Practical takeaway: draft settlements to fit policy coverage

    00:05:51 — Guest intro: Kate Heiken, Wayfinder Energy

    00:07:09 — Why great ideas fail: lack of disciplined execution

    00:08:11 — Scaling analogy: when your capacity gets outgrown

    00:10:15 — COO misconceptions + “execution partner” definition

    00:11:27 — De-risking: repeatability, playbooks, and measurable operations

    00:14:19 — Documentation as legal + financial risk reduction

    00:17:18 — The founder inflection point: delayed decisions, missing metrics, miscommunications

    00:19:01 — Fractional vs full-time COO: discipline without bloated overhead

    00:21:23 — Wayfinder approach: diagnose bottlenecks + reverse-engineer the roadmap

    00:24:07 — KPIs and celebrating wins through measurement

    00:25:32 — Final framework: “performance = potential − interference”

    00:26:12 — Closing thought: execution is a strategy that attracts capital


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    28 分
  • Flipping the Barrel: Building Community in Oil & Gas
    2026/02/24

    In this episode of An Ounce of Prevention, Rachel Reese sits down with Massiel Diez and Jamie Elrod, founders of Flipping the Barrel, for a candid conversation about influence, credibility, and redefining leadership in the energy industry.

    What began with a simple introduction quickly evolved into one of the most recognized podcasts in oil and gas. Drawing from Massiel’s field experience and Jamie’s strategic industry background, the two built a platform that earned early access to high-profile CEOs and key decision-makers across the energy sector. Their success wasn’t accidental; it was intentional branding, thoughtful positioning, and a commitment to meaningful conversations in a traditionally conservative industry.

    But the heart of this episode goes beyond podcast growth.

    Rachel, Massiel, and Jamie dive into a persistent challenge in the energy space: the perception that women’s conferences lack substance or measurable return on investment. Too often, companies hesitate to sponsor or send female leaders to industry events, questioning the value beyond optics. That skepticism became fuel for action.

    It’s what led to the creation of the Pursuing Greatness Conference, and later Representation Matters, events designed not as performative showcases, but as strategic, results-driven experiences that deliver leadership development, business growth, and real ROI. In this conversation, they challenge outdated assumptions about women in energy, discuss the business case for intentional representation, and explore how branding and credibility shape the future of the industry.

    Before diving into the full conversation, Rachel delivers a caselaw and regulatory update on EPA’s Final Rule Granting Texas Primacy for Class VI Underground Injection Wells, a major development for carbon capture and storage (CCS) projects. She breaks down what it means for the EPA to grant Texas primacy, how permitting authority shifts to the Railroad Commission of Texas, and why this transition could significantly impact timelines, regulatory predictability, and overall project economics. With 45Q tax credits and large-scale CCS deployment on the line, this update underscores why Texas’ expanded authority over Class VI wells is a pivotal moment for the energy industry.

    If you’re interested in oil and gas leadership, women in energy, industry conferences, branding strategy, and the evolving business case for representation in the energy sector, this episode offers a perspective you won’t hear everywhere else.


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    42 分
  • Do The Right Thing Even When No One Is Watching
    2026/02/10

    Integrity and ethical business practices aren’t “nice to have,” they’re a competitive advantage. In this episode of An Ounce of Prevention, host Rachel Reese sits down with Ella McDonald, founder of McDonald Land Services, to unpack the Cornerstones of Success: honesty, integrity, and ethical behavior, and what they look like in day-to-day decision-making.

    Ella shares how growing up on a dairy farm taught her accountability early, how she pushed into land work in 1978 when she was told there were no women in the field, and the leadership standards she set as her company expanded into major U.S. basins serving oil, gas, renewables, and emerging energy sectors.

    If you’re a founder, executive, manager, or service provider building a reputation-based business, this conversation is a practical reminder: you have to choose ethics every day, and your organization has to live it, not just say it.

    Time Stamps / Chapters

    00:00:01:04 Welcome to An Ounce of Prevention

    00:00:25:17 Host intro + guest introduction (Ella McDonald)

    00:01:31:06 The “cornerstones of success”: integrity, honesty, ethics

    00:03:28:04 Starting in land work in 1978—“when pigs could fly”

    00:05:15:21 Learning accuracy, then pushing into the field

    00:06:18:01 Advocating for equal pay: from $35/day to $75/day

    00:06:49:12 Why she started her own brokerage firm

    00:08:48:06 The unethical kickback request—and walking away

    00:12:32:23 How standards scale across a team and operations

    00:14:11:21 Fair invoicing + defending work to clients

    00:15:21:19 Growth across basins: Marcellus/Appalachia, Rockies, nationwide

    00:18:24:18 Building a family legacy + team leaders carrying it forward

    00:21:42:01 Lifetime achievement award + message to women leaders




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    31 分
  • Reviving Distressed Wells
    2026/01/27

    An Ounce of Prevention explores where energy, law, and real-world operations collide. Each episode pairs timely legal insight with practical conversations from operators who know the field, focusing on the decisions that actually move the industry forward.

    In this episode, the spotlight is on distressed oil and gas wells, assets that are often overlooked, underfunded, or written off as companies move on to flashier plays. You’ll hear how experienced operators see opportunity in these forgotten wells, using disciplined operations, automation, and wellbore-only strategies to bring production back online.

    It’s a grounded look at how value is created not through hype, but by knowing what to fix, when to act, and when a simple switch can make all the difference.

    Caselaw Update:
    The update covers Miko, LLC v. Targa Gas Marketing, LLC, a decision from the U.S. Court of Appeals for the Fifth Circuit

    The dispute arose out of Winter Storm Uri (February 2021) and focuses on how far a natural gas seller can go in relying on a force majeure clause under a NAESB (North American Energy Standards Board) gas contract.

    Time Stamps:

    00:57 – Caselaw Update: Winter Storm Uri and force majeure

    04:53 – “Stick to the contract” takeaway and risk mindset

    05:19 – Introducing John Benevides and New Height Energy

    05:59 – What “distressed” oil and gas wells really mean

    06:37 – Why vertical wells get ignored as operators chase horizontals

    07:28 – Wellbore-only deals explained

    08:43 – Shared infrastructure and legacy asset challenges

    10:19 – Turning shut-in wells back on with minimal intervention

    11:15 – Automation and personnel efficiency in distressed assets

    14:28 – Why aggressive bids on distressed wells often fail

    15:45 – Performance bonds, plugging liability, and hidden risks

    19:19 – Case study: ~2 BOPD turned into 100+ BOPD

    21:06 – Growth strategy built around distressed wells



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    23 分
  • Texas Business Court Rulings That Changed 2025
    2025/12/30

    As 2025 comes to a close, guest host Miranda Caballero explores some of the earliest and most influential decisions coming out of the newly established Texas Business Courts. Created to handle complex business disputes with greater efficiency, these courts are already shaping litigation strategy, corporate governance, and deal structuring across Texas.

    In this episode, Miranda breaks down three key cases addressing claim consolidation, veil piercing under Texas law, fraud claims, and statutes of limitations—offering practical insights for business owners, executives, and legal professionals navigating high-stakes commercial disputes.

    Time Stamps:

    00:55 The Texas Business Courts, Creation under House Bill 19

    01:27 Kassam v. Dosani caselaw update

    02:48 Invincible Inc. v. RB SP One LLC caselaw update

    06:32 Riverside Strategic Capital Fund I, LP v. CLG Investments LLC caselaw update


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    9 分
  • The Outsourcing Solution Trend
    2025/12/16

    In this episode of An Ounce of Prevention, host Rachel Reese opens with a critical case law update from the 10th Circuit Court of Appeals examining Oklahoma’s Production Revenue Standards Act (PRSA) and the staggering financial consequences of delayed royalty payments. The discussion underscores how statutory compound interest and class action exposure can create nine-figure liability for oil and gas operators—even when payments are eventually made.


    Rachel is then joined by Eric Fuller, President and CEO of Eikon-X, for an in-depth conversation on modern outsourcing, organizational agility, and career development. Eric shares insights on when outsourcing makes sense, how companies can move faster by buying outcomes instead of methodologies, and why boutique consulting firms are increasingly attractive alternatives to traditional models. The episode also explores career advice for professionals early in their journey, the importance of relationships, and how private equity–backed companies can unlock value through smarter back-office strategy.


    Time Stamps:

    00:25 Case law update

    05:00 Eric Fuller introduction

    5:50 What Eikon-X is and what it does, serving the industry

    7:11 The evolution from in-house back offices to outsourced expertise

    09:38 Why companies want solutions, not methodologies

    13:01 Specialists vs. generalists and corporate leadership pipelines

    15:28 Career advice: increasing value early and staying open to opportunity

    16:13 Long-term value of professional relationships

    18:09 Fail often, fail fast: breaking things to find better solutions

    21:29 Ideal Iconix clients: private equity, M&A, and growing companies

    24:24 Final thoughts: supporting teams, saving money, and planning for uncertainty

    24:48 Disclaimers, listener call-to-action, and contact information


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    26 分