In the United States, more than 760,000 so-called legacy “stripper” wells remain in production. Together they provide roughly 7.4 percent of the nation’s crude-oil output and 8.2 percent of its natural-gas output, or about 7.8 percent of total hydrocarbon production. The United States also contains an estimated 3.5 million unplugged abandoned wells, according to U.S. Environmental Protection Agency data.
These low-producing or inactive wells therefore present both an economic redevelopment opportunity and a significant environmental liability—challenges that Pytheas believes it can address through its technology-driven solutions.
Business Model with Technological Leverage
Through the targeted use of modern procedures – such as short-radius radial drilling, fluid stimulation, advanced technologies like automations and its proprietary AI-enable platform “Pytheas AI” for data-based field control – Pytheas seeks to economically reactivate legacy oil and gas wells and generate ongoing revenues that exceed historical values.
Pytheas’ business model involves the acquisition, optimization, and monetization, and potential sale of these wells with a view towards increasing value for its shareholders.
The Strength Is In The Team
Pytheas Energy Inc (“Pytheas”) is a seasoned management team, considered some of the most respected researchers and drilling operators in the world, with a strong track record of working with Major Oil and Gas Companies prior to forming Pytheas.
With over 100 years of combined experience, and considered the leading technology team at Conoco Phillips, our team has developed multiple cutting-edge drilling projects.
Drilled thousands of wells around the world; onshore, offshore, conventional, and unconventional.
Each team member is a subject matter expert (SME)* in:
Decades of Experience
Our team is a deliberate mix of seasoned oilfield operators and professionals from tech, operations, and finance backgrounds. We’ve paired boots-on-the-ground experience in marginal well operations with fresh thinking from outside the traditional energy space—bringing modern tools, digital systems, and capital market fluency into a segment long overdue for innovation. This blend allows us to see opportunities others miss, move faster than legacy players, and drive real value across the life of a field.
Trey spent 35 years in the oil industry, serving a variety of roles: drilling, completion, production and reservoir. The last 25 years focused on development architecture and completion solutions for complex reservoir environments. Trey has provided engineering/ops support for implementation programs on 5 continents. Early in his career, Trey worked in the military aircraft industry as an engineer on the F-16 fighter aircraft.
Gary Collins is one of the top drilling engineers in the world. He has held senior Drilling Engineer positions at Conoco Phillips (15 years) and before that Marathon Oil (24 years), where he worked up from Completion Engineer to Advanced Senior Drilling Engineer. Gary is known as an innovator in his field – he holds several patents in drilling and completion technologies and has written many well-respected technical articles. Gary holds a B.S> in Natural Gasoline from Texas A&I.
Trey spent 35 years in the oil industry, serving a variety of roles: drilling, completion, production and reservoir. The last 25 years focused on development architecture and completion solutions for complex reservoir environments. Trey has provided engineering/ops support for implementation programs on 5 continents. Early in his career, Trey worked in the military aircraft industry as an engineer on the F-16 fighter aircraft.
Tony has 40 plus years of experience in the upstream energy industry, spanning drilling, completions, and production operations. His unique perspective of the industry from the contractor and operator view (Quintana Petroleum, Halliburton, Tesco, and Helmerich & Payne) has resulted in Tony being one of the best connected and influential individuals in the industry. Additionally, Tony has multiple successful startup and exits in the energy sector.
