How one woman has risen to the top of the world's only online continuous oil and gas property marketplace.
EnergyNet.com, Inc., an Amarillo corporation, recently celebrated its 10th anniversary with handshakes, champagne, and something bigger: The promotion of their very first Land Department employee to the position of Vice President of Land. It required an exceptional Landman to propel this "dot-com" from a fledgling startup company to the world's only online continuous oil and gas property marketplace, with a client list that boasts major players such as Chevron, ExxonMobil and Wells Fargo Bank.
In EnergyNet's case, the Landman who shouldered this improbable accomplishment was a woman who had never imagined being in the oil and gas business.
Janet Cubitt was born in Huron, South Dakota. Her parents moved to Amarillo in 1978 to seek job opportunities within the medical sector. She graduated from Tascosa High School, then West Texas A&M University with a Bachelor of Business Administration. While she didn't know where her career path would take her, she never imagined it would be in the oil and gas business.
In 1986, Cubitt went to work for a brokerage firm that was seeking to train a female Landman to accompany another traveling female employee. Her job took her through various towns across Texas, Oklahoma and Kansas while she learned the business and became a Landman.
So, why not a land-woman? "I'm proud to say I'm a Landman," says Cubitt. "I don't think the term is gender-specific. Many women are now in the business."
Cubitt worked with Orion Oil & Gas Properties as a contract petroleum Landman from 1986-1999. At one point in her career, she began doing brokerage work for J-Brex Company when Bill Britain was land manager. Britain is now the President and CEO of EnergyNet.com, Inc, which was co-founded by he and Jim J. Brewer in 1999. Her professionalism and attention to detail impressed the partners. Years later, it was this relationship that prompted Britain to seek Cubitt to be the first Land Department employee in the new auction company and try something completely different.
Cubitt found herself weighing a choice between a lucrative job with an established bank, or joining a startup with little more than a fresh idea. "They needed someone to believe in their idea and take a chance, so I jumped on board," Cubitt says.
The choice proved to be the right one. Ten years later, EnergyNet.com has emerged as the biggest name in the online oil and gas property marketplace, with Cubitt as the leader driving the land department. During her tenure at EnergyNet.com, Cubitt has built one of the most efficient and quality land departments in the A&D industry. Her land department has received praise from many large companies including Shell, Bank of America, EnCana and ING.
"Janet has more land knowledge, integrity and drive in her little finger than most of us will ever have," says Britain. "She and her land department give EnergyNet a distinct competitive advantage in our market. "
The properties Cubitt prepares are headed for the online auction block or a negotiated sale, where bidders from across the United States compete for producing oil and gas interests and non-producing minerals & leasehold. Watching Cubitt work, it is immediately apparent that she thrives on meeting deadlines for EnergyNet's weekly auctions.
"Working for a successful dot-com has been fascinating," says Cubitt. "It's exciting to watch properties sell well past the reserve price and exceeding seller expectations. Everyone gathers in the conference room and cheers them on during the big sale days. Our $13 million dollar day was something to remember."
Away from the office, Cubitt enjoys spending time with animals. When she's not preparing assets for sale, she's spending time with her 18-year old pot-bellied pig, her horse and two Brittany's. In the past, she has been a volunteer at the Amarillo Zoo. "I was able to interact with all types of critters," she says, "including feeding a 2,000-pound American Bison named Rusty, by hand."
Her family is a big part of her life as well. Other than "Landman," her favorite title is "Cool Aunt J."
Amarillo has a fond place in Cubitt's heart. "You're close enough to the country that you are always surrounded by friendly faces saying good morning and hello," she says. "There's enough of the big city here that allows for fun nightlife and cultural activities. You have quick access to the world's second largest canyon, the mountains, and lakes. It's a family-oriented, small city in the Heartland of America."
Cubitt says the oil and gas business, "can be very cyclical, but it is also very exciting. There are always valleys in any industry, but the peaks in our business cannot be topped."
Helping build her company's success is something Cubitt finds extremely rewarding. The land department she assembled has processed over 30,000 properties to date. "My co-workers are always willing to go the extra mile to please a seller or meet a deadline. I am proud to work for EnergyNet and to have a leader like Bill Britain."
