Navigator Oil & Minerals, Inc.

Our Team

Jack E. Blake, Jr., President

Born and raised in Midland, Texas, in 1952, Jack E. Blake, Jr., graduated from University of Texas, Austin, and soon thereafter moved to Williston, North Dakota, with brother, Bruce W. Blake, and friend, Kenneth R. Berry, Jr. to begin his career as an oil & gas prospector.   
 
Navigator Oil & Minerals, Inc., was incorporated in 1979 for the purpose of prospecting for oil and gas.  The company is owned entirely by Jack E. Blake, Jr., and his immediate family.  Now located in Midland, Texas, Navigator prospects for oil and gas and acquires oil properties primarily in West Texas.

Michael J. Daniel, Executive Vice President
Raised in Lubbock, Texas, Michael J. Daniel graduated from Texas Tech University with a BBA in accounting and moved to Midland, Texas in 1977. Business experience includes all aspects of oil and gas accounting, and investing in exploration projects in the Permian Basin and the Rocky Mountains. Successfully working with Navigator Oil & Minerals since 2004, the goal remains purchasing oil and gas properties and prospecting in Texas and North Dakota.

Banaise Blake, Vice President, Operations
Raised in Midland, TX, Banaise is a 1998 graduate of the United States Military Academy at West Point, NY. After more than seven years on active duty in the US Army, including a tour of duty in Baghdad, Iraq, Banaise left the military and entered the oil and gas industry. He worked as a sales and field service manager for Baker Hughes-Centrilift from 2006 to early 2008, and in March 2008 left Baker Hughes to start up a well service company. In 2009, Banaise started working for Frontier Energy Services, LLC, a mid-stream energy company based in Tulsa, OK. After earning an MBA degree in the spring of 2012, Banaise returned to Midland to join his family's oil and gas business, bringing with him 14 years of leadership and operational experience.

Spencer E. Blake, Vice President, Business Development Manager
Spencer E. Blake graduated from the University of Texas at Austin in 2004 with a degree in Civil Engineering. Soon after graduating, Spencer moved to Denver, Colorado to gain experience in land surveying, land development, infrastructure design, and forensic engineering. After obtaining his license to practice as a professional engineer in the state of Colorado, Spencer joined his father, Jack Blake, Jr., and the Navigator team in early 2011. Since joining the team, Spencer has had the great opportunity to work with geologists, landmen, and engineers that pioneered horizontal development and shale exploitation in the Permian.

Riley Blake Leader, Vice President, Exploration
Riley graduated in 2009 from the Jackson School of Geosciences at the University of Texas at Austin with a B.S. degree in Geological Sciences while working with Swift Energy in Dripping Springs, TX. Upon graduation, Riley headed to Denver, CO to work for Forest Oil in their East Texas and Louisiana division, generating prospects and managing up to eight fields. In August of 2012, Riley moved back to Austin, Texas and worked again with Swift Energy, mapping exploration opportunities in East Texas/North Louisiana, as well as providing recompletion recommendations in one of Swift's most active fields. Riley's Gulf Coast experience includes (but is not limited to) focus on the Haynesville/Bossier, Cotton Valley (Taylor), Pettet, Rodessa, Woodbine, Eagle Ford, Austin Chalk, and Wilcox formations. Riley opened Navigator's Austin office in March of 2014, joining the family business and bringing 5 years of oil and gas exploration experience.

Areas of Interest

Navigator Oil & Minerals, Inc. is currently active acquiring leasehold, royalty, and mineral interests in the Midland and Delaware Basins. Our main areas of interest include the northern Midland Basin (Howard, Dawson, Glasscock, and Midland Counties) and the Delaware (Reeves, Ward, Winkler, and Loving Counties).

Navigator also holds interests in the below properties:

- Mineral acreage in the active Wolfcamp-Bone Spring in Reeves, Loving, Ward, and Winkler Counties in the Delaware Basin of West Texas.

- Mineral acreage in the active Wolfcamp-Spraberry play in Howard, Glasscock, Midland, Martin, and Borden Counties in the Midland Basin of West Texas.

- 60,000 acres in Powder River County, Montana.

- Non-op Working interest in the Horizontal Wolfberry and Wolfbone plays in Texas.

- Multiple tracts of land throughout North Dakota, Montana, and Texas (in both the Delaware and Midland Basins).

Why sell your interest?

• Minimize future risk and receive cash now based on current market conditions, which is currently at an all-time high, versus the gamble on future stability. The oil and gas industry is one of extreme volatility, as seen throughout the previous decades. A sale at current market levels will let you rest easy with money in the bank (see below photos).
• Estate Planning or management: Managing mineral and royalty interests can be difficult if unfamiliar, especially when you are managing for you and your family members. Who is or will be tasked with the responsibility of reviewing lease offers, determining an operator/lessee, calculating division orders, overseeing royalty payments, and ensuring proper taxes are paid? The task is much more simple when managing a familiar asset or commodity. 
• Tax-Free Investments and/or Exchange of Properties: If there is a desire to acquire an investment property (lake house, ranch, condo), Navigator can help you get in touch with a 1031 exchange officer that will assist you in making a tax-free like kind exchange for your target property. Take your producing or non-producing asset(s) and exchange it for a desirable property or real estate investment tax free.
• Tax Purposes: Call your accountant to discuss the benefits of selling your interest versus collecting royalty or bonuses. If you've owned your interest for a long period of time, your tax rate after sale could be based on long term capital gains versus collecting royalty and bonuses and paying ordinary income tax. The difference could save you a considerable amount in taxes over the productive life of a property.

The Sales/Leasing Process

If you have been contacted by Navigator to purchase or lease your interests, we appreciate your time and consideration. We know this is a difficult and unfamiliar process.

The oil & gas leasehold and mineral market has grown significantly over the last couple of years with the introduction of private equity and publicly funded mineral and royalty companies. We hope that you will give a Permian Basin-based company a chance to compete and keep a mineral ownership in the Permian Community.

The process typically begins with a written offer to you based on a property evaluation. Following mutually agreeable terms, we examine public records and verify ownership, then close via check or wire. The process can be completed quickly where we have title, or in less than 30 days if we need to verify ownership by running full title at the county courthouse.

Property Evaluation

Navigator evaluates and models an interest based on a number of known and unknown variables including, but not limited to:

• Known geologic information
• Success of wells in the area
• Operator or Lessee
• Lease status and/or royalty
• Commodity prices
• Existing production/cash flow
• Type of interest (Override, Non-participating royalty interest, Leasehold, Mineral Interest)

Navigator will compile and model the interest based on this information, and formulate an offer for the owner. The purpose of our model is to realize all risks and find a balance that benefits both parties.

Navigator Written Offers

Our formal, written offers are calculated on a $ per net mineral acre and/or lump sum basis. Many companies make offers calculated on a "royalty acre" basis, which is a way of finding commonality between acreage. One royalty acre is equivalent to one mineral acre leased at 1/8th royalty. I.E. 2 royalty acres is equivalent to 1 net mineral acre leased at 1/4 royalty.

We ask for a certain amount of time to review title and exercise due diligence to clear up any issues that may arise: Payment of overdue taxes, verification of royalty, gathering affidavits, etc. This process can be completed in 7 to 30 business days prior to closing.

CLOSING

Once Navigator has completed its due diligence, you will receive notification that your interest is as noted in the letter agreement, or that changes need to be made to the total amount to be paid to you. If changes need to be made, Navigator will provide the documentation that indicates why. In some cases, the lessor or mineral owner will own more than what was originally thought, and the amount paid will go up accordingly.

When both parties mutually agree to the conveyance document and amount to be paid, the lessor/owner will sign a conveyance document, scan it to Navigator, and payment will be initiated via wire or a check will be sent with a return envelope for the lessor/owner to return the conveyance document. Navigator will then notify necessary jurisdictions and parties that the conveyance has been made.

Our Office

400 N. Main St.
Midland, TX, 79701
United States

Office: (432)682-9585

Contact Us

If you would like us to contact you with regard to mineral interests that you own, please enter your information to the right, and include the legal description of your property. We look forward to speaking with you.