Biography of Paul Favret

Biography of Paul Favret Founder-President Abundant Investments, Family Office

Paul Favret is a Colorado-based energy executive, entrepreneur, and inventor with four decades of experience in oil and gas exploration, technology development, and private equity-backed operations. Throughout his career, he founded three companies and served as Chief Executive Officer of multiple energy-sector organizations. His leadership includes Resource Energy Partners, an operator supported by Apollo Global Management that acquired three public companies through the Section 363 bankruptcy proceedings and operated more than 220 wells producing approximately 3,800 barrels of oil per day. He also previously led Source Energy Partners, which controlled more than 800,000 acres and operated 18 producing wells generating more than 3,500 barrels per day.

Early Life and Education Favret earned a Bachelor’s Degree in Geology from Western Carolina University and graduated magna cum laude between 1980 and 1984. His academic work during these years laid the scientific foundation for his later work in energy exploration and resource development.

He continued his education at the University of South Carolina, completing a Master’s Degree in Geology and Geophysics and graduating summa cum laude from 1984 to 1986. His graduate training strengthened his understanding of geophysical interpretation and geological research.

Favret later pursued business education to expand his leadership skills. He completed a Master of Business Administration at the University of Houston and graduated cum laude in 1992. In 1999, he also completed Petroleum Engineering for Management studies at the Colorado School of Mines, further strengthening his ability to connect technical expertise with executive decision-making.

Early Career at Amoco He began his professional career in 1986 with Amoco. During the following 10 years, he worked as a lead explorationist and geophysicist. His assignments included Gulf Coast exploration, deepwater Gulf of Mexico projects, international work in Nigeria and Angola, and domestic projects in the Wyoming Greater Green River Basin.

Paul Favret received five President’s Awards between 1994 and 1996 for achievements in exploration and development. During that time, he was the only professional within Amoco to receive five such awards.

His early research work also included published scientific contributions. In 1988, he contributed to a Geological Society of America Bulletin paper titled “Basement beneath the Blue Ridge and Inner Piedmont in northeastern Georgia and the Carolinas: A preserved, Late Proterozoic, rifted continental margin.”

Aspect Energy and Executive Leadership Favret joined Aspect Energy, LLC in 1996 as president and an early partner. His work between 1996 and 2004 marked a shift from technical responsibilities into executive leadership. During this time, he guided exploration planning, supported technical teams, and contributed to the growth of the company's assets.

He also served as president of Abundant Resources from 2004 to 2008. During this period, he focused on shale resource development in the Barnett, Fayetteville, and Woodford shale plays located across Texas, Arkansas, and Oklahoma.

Founding Ascend Geo and Industry Innovation He founded Ascend Geo, LLC in 2002 and served as Founder, Chief Executive Officer, and Director until 2009. The company focused on seismic technology and developed portable cableless seismic acquisition and continuous recording platforms.

Favret oversaw the development of the Ascend Ultra Seis recording system, which became the industry's first cableless, continuous, satellite-timed recording system. This system introduced new approaches for seismic data acquisition and field operations.

Under his leadership, the company developed a seismic acquisition architecture that resulted in 7 U.S. patents. Throughout his career, he is credited with 8 U.S. patents related to seismic data acquisition methods, interactive investigation systems, data synchronization, vibrator force control, and noise attenuation.

Source Energy Partners Paul Favret founded Source Energy Partners, L.P. in 2010 and served as Chief Executive Officer until 2015. The company focused on shale resource opportunities in Europe, Colombia, and the Mid-Continent region of the United States.

The company controlled more than 800,000 acres across four project areas and operated 18 producing wells generating more than 3,500 barrels per day. Between 2013 and 2015, all projects were successfully sold.

During this period, he was featured in industry publications, including Oil and Gas Investor, and presented at the Developing Unconventionals Conference, hosted by Hart Energy, in 2011.

Resource Energy Partners and Apollo Investment Favret became Chief Executive Officer of Resource Energy Partners LLC in November 2015.

The Denver-based company was backed by Apollo Global Management and focused on acquiring assets through bankruptcy proceedings in the Bakken play of the Williston Basin.

Over 18 months, the organization acquired three mid-sized public companies through the Section 363 bankruptcy process. Operations included more than 220 wells producing approximately 3,800 barrels of oil per day. The company also drilled new wells and completed several refracturing projects on existing wellbores before a successful sale in 2021.

Professional Organizations and Industry Engagement He has remained active in professional organizations throughout his career. His involvement includes the American Association of Petroleum Geologists and the Denver Geological Society.

He has participated in technical discussions and executive forums within the energy sector. This participation reflects continued engagement with industry dialogue even after stepping away from full-time executive roles.

Philanthropy and Community Involvement Favret has supported philanthropic initiatives alongside his professional work. His involvement includes ACE Scholarships, an organization founded by Alex Cranberg, with whom he worked while serving as president of Aspect Holdings’ energy operations.

ACE Scholarships provides financial assistance to students across several states and reports annual donations exceeding $25 million. He has also contributed to the Dumb Friends League and supported additional charitable initiatives beyond those publicly highlighted.

Life in Retirement Now retired from full-time executive leadership, Paul Favret remains active in the motorcycle community and continues to participate in adventure rallies. His ongoing participation reflects a continued interest in travel, exploration, and outdoor activities.