About Paul Favret
Paul Favret is a Colorado–based energy executive, entrepreneur, and inventor with four decades of leadership in oil and gas exploration, technology development, and private equity–backed operations. He founded three companies and served as Chief Executive Officer of multiple firms, including Resource Energy Partners, an Apollo Global Management–backed operator 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 previously led Source Energy Partners, which controlled over 800,000 acres and 18 producing wells, generating more than 3,500 barrels per day.
Early Life and Education
Paul Favret earned a Bachelor’s Degree in Geology and graduated magna cum laude from Western Carolina University between 1980 and 1984. 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.
Recognizing the importance of combining technical expertise with business leadership, Favret later pursued a Master of Business Administration at the University of Houston, graduating cum laude in 1992. He also completed Petroleum Engineering for Management studies at the Colorado School of Mines in 1999, further strengthening his ability to bridge engineering and executive decision-making.
Early Career at Amoco
Paul Favret began his professional career in 1986 with Amoco, where he served for 10 years 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.
Between 1994 and 1996, he received five President’s Awards for outstanding achievements in exploration and development. During that period, he was the only professional within Amoco to receive five such awards.
His early research background also included published scientific work. 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
In 1996, Favret joined Aspect Energy, LLC as president and early partner. His tenure from 1996 to 2004 marked his transition from technical leadership into executive management. During this period, he was responsible for exploration strategy, technical team development, and asset growth initiatives.
He also served as president of Abundant Resources from 2004 to 2008, focusing on shale resource plays in the Barnett, Fayetteville, and Woodford shales across Texas, Arkansas, and Oklahoma.
Founding Ascend Geo and Industry Innovation
In 2002, Paul Favret founded Ascend Geo, LLC, serving as Founder, Chief Executive Officer, and Director until 2009. Ascend Geo invented, developed, built, and marketed portable, cable-less seismic acquisition and continuous recording platforms. Its flagship product, the Ascend Ultra-Seis recording system, became the first cable-less, continuous recording, satellite-timed system in the industry.
Under Favret’s direction, the company developed and secured seven U.S. patents for its seismic acquisition architecture. Throughout his career, he is credited with eight U.S. patents covering seismic data acquisition methods, interactive investigation systems, data synchronisation, vibrator force control, and noise attenuation.
Source Energy Partners
In 2010, Paul Favret founded Source Energy Partners, L.P., serving as Chief Executive Officer until 2015. The company was established to pursue shale resources in Europe, Colombia, and the Mid-Continent region of the United States.
Source Energy Partners controlled more than 800,000 acres across four project areas. It operated 18 producing wells generating more than 3,500 barrels per day. Between 2013 and 2015, all projects were successfully sold.
During this period, Favret 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
In November 2015, Favret became Chief Executive Officer of Resource Energy Partners LLC, a Denver-based company backed by Apollo Global Management. The company focused on bankruptcy acquisitions in the Bakken play of the Williston Basin during a period of market distress.
Over 18 months, Resource Energy Partners acquired three mid-sized public companies through the Section 363 bankruptcy process. The company produced more than 220 wells and achieved production of approximately 3,800 barrels of oil per day. It also drilled new wells and completed several refracturing projects on existing wellbores before a successful sale in 2021.
Professional Organizations and Industry Engagement
Throughout his career, Favret has been active in professional organizations, including the American Association of Petroleum Geologists and the Denver Geological Society. His engagement in technical and executive forums shows continued participation in industry dialogue even after transitioning from full-time executive roles.
Philanthropy and Community Involvement
Favret’s professional life has been matched by sustained philanthropic engagement. He has been closely involved with ACE Scholarships, an organization founded by Alex Cranberg, with whom Favret worked as president of Aspect Holdings’ energy operations. ACE Scholarships provides financial assistance to students in multiple states, with annual donations exceeding $25 million.
He also contributes to the Dumb Friends League and has supported 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.
