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. During his career, he founded three companies and served as Chief Executive Officer of several organizations. His leadership includes Resource Energy Partners, an operator backed 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 led Source Energy Partners, which controlled more than 800,000 acres and operated 18 producing wells generating more than 3,500 barrels per day.
Favret earned a Bachelor’s Degree in Geology from Western Carolina University and graduated magna cum laude between 1980 and 1984. His academic studies provided the scientific foundation that supported his later work in energy exploration and resource development.
He continued his education at the University of South Carolina, where he completed a Master’s Degree in Geology and Geophysics and graduated summa cum laude from 1984 to 1986. His graduate training strengthened his understanding of geological structures and geophysical interpretation.
Favret later expanded his education by pursuing business leadership training. 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 analysis with executive decision-making.
He began his professional career in 1986 with Amoco. During the next 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 period, he was the only professional within Amoco to receive five such awards.
His early research 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.”
Favret joined Aspect Energy, LLC in 1996 as president and an early partner. His work between 1996 and 2004 represented a shift from technical responsibilities to executive leadership. During this time, he guided exploration planning, supported technical teams, and helped expand the company's assets.
He also served as president of Abundant Resources from 2004 to 2008. During this period, he focused on shale resource opportunities within the Barnett, Fayetteville, and Woodford shale plays across Texas, Arkansas, and Oklahoma.
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 directed the development of the Ascend Ultra Seis recording system. This system became the first cableless, continuous-recording satellite-timed system used in the industry and introduced new methods for collecting seismic data in 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.
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 also featured in industry publications, including Oil and Gas Investor, and presented at the Developing Unconventionals Conference, hosted by Hart Energy, in 2011.
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 distressed assets 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 company also drilled new wells and completed several refracturing projects on existing wellbores before a successful sale in 2021.
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 engagement reflects continued interest in industry dialogue even after transitioning away from full-time executive leadership.
Favret has also supported philanthropic initiatives alongside his professional career. 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 multiple states and reports annual donations exceeding $25 million. He has also contributed to the Dumb Friends League and supported charitable initiatives beyond those publicly highlighted.
Now retired from full-time executive leadership, Paul Favret remains active in the motorcycle community and continues to participate in adventure rallies. His continued participation reflects a long-standing interest in exploration and outdoor travel.
Paul Favret: A Life of Leadership Built on Innovation, Adventure, and Service