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Young Alumni Find Success In Texas Oil Fields

May 20, 2014
SMU Magazine

Mark Hiduke just raised $100 million to build his three-week-old company. This 27-year-old isnt a Silicon Valley technology entrepreneur. He’s a Texas oilman. As oil and gas producers change their focus from grabbing land to drilling, young entrepreneurs are forming companies to trade everything from minerals to leases and wells to equities. They’re competing against, and sometimes collaborating with, industry veterans twice their age.

The oil and gas industry is suddenly brimming with upstart millennials like Hiduke after decades of failing to attract and retain new entrants. Now that a breakthrough in drilling technology has U.S. oil and gas production surging, an aging workforce is welcoming a new generation of wildcatters, landmen, engineers, investors, entrepreneurs and aspiring oil barons.