J. Stephen (Steve) Mercer
Chairman and CEO of North Plains Energy, LLC and independent oil and gas company active in the Rockies and particularly North Dakota’s Williston Basin Bakken Oil play. NPE recently divested of 75% of its assets for $704 million which were in a joint development program with one of the world’s largest international energy trading firms. NPE owned approximately 50% of the joint development program and managed the project. Mr. Mercer was a co-founder and CFO of IPR Energy, LLC in Dallas, Texas along with its affiliates – InFlow Petroleum Resources, LP, IPR Energy Partners, L.P. and IPR Oilfield Services, LP starting in April 2002. These companies have been involved in successfully acquiring and developing oil and gas properties in the Gulf Coast, Permian Basin of West Texas and New Mexico, and North Texas. InFlow and IPR Energy Partners, L.P. recently sold their principal assets for more than $43 million generating substantial returns for the founders and co-investors in InFlow. Prior to forming IPR Energy, LLC, Mr. Mercer spent 25 years in oil & gas acquisitions and development, finance, commercial real estate investment and development. He worked with Summit Partners Management Company, Ladd Petroleum (G.E. Subsidiary) and Crocker National Bank of California (now part of Wells Fargo Bank, N.A.) and First City National Bank of Houston. Mr. Mercer started his career 1977 with Exxon Company U.S.A. as a reservoir and production engineer. Mr. Mercer earned a Bachelor’s Degree in Electrical Engineering from the University of Texas at Austin. Through his various banking positions, Mr. Mercer was able to attend graduate studies in accounting and finance at the University of Houston and Stanford University.