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. Over the course of his career, he founded three companies and served as Chief Executive Officer of multiple organizations. His leadership includes work with Resource Energy Partners, a company supported by Apollo Global Management that acquired three public companies through 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 managed 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 training provided a strong scientific background that later supported his work in oil and gas exploration.

He continued his studies 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 education expanded his understanding of geological structures and geophysical interpretation.

Favret later pursued business education to strengthen 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, which further connected technical knowledge with executive decision-making.

Early Career at Amoco

He began his professional career in 1986 with Amoco. During the next 10 years, he served 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 initiatives in the Wyoming Greater Green River Basin.

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

His early scientific work also included published research. 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 role from 1996 to 2004 reflected a transition from technical work into executive leadership. During this time, he guided exploration planning, helped develop technical teams, and supported the expansion of the company's assets.

He also served as president of Abundant Resources from 2004 to 2008. His work during those years focused on shale resource opportunities in the Barnett, Fayetteville, and Woodford shale plays 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.

Paul Favret directed the development of the Ascend Ultra Seis recording system, which became the industry's first cableless, continuous-recording, satellite-timed system. The technology introduced new approaches to seismic data acquisition and field operations.

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

Source Energy Partners

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

Favret led projects that controlled more than 800,000 acres across four project areas. The company 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 also 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 during bankruptcy proceedings in the Bakken play of the Williston Basin.

Over 18 months, the company 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 organization 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.

Through participation in technical discussions and executive forums, he has continued to contribute to industry dialogue even after stepping away from full-time executive roles.

Philanthropy and Community Involvement

Favret has also been involved in philanthropic work during his professional life. He has supported 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 multiple 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 involvement reflects a long-standing interest in travel and outdoor exploration.

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