Lakewood Management Team
Tim E. Purcell
Chief Executive Officer
Mr. Purcell co-founded Lakewood Midstream, LLC (“Lakewood”), a domestic energy company which provides infrastructure and other solutions for the crude oil and natural gas industry.
Prior to forming Lakewood, Purcell served as president of Parnon Gathering, Inc. (“Parnon”), a domestic crude oil midstream company started in November 2009 with the acquisition of a crude oil pipeline located along the Oklahoma and Texas border. Purcell originated all of the Parnon acquisitions, including negotiating Parnon’s long-term lease for 750,000 barrels of crude oil storage at Cushing, OK and the construction of the 105-mile pipeline from Parnon’s leased Cushing tankage to what would become the Mississippi Lime crude oil play along the Kansas and Oklahoma border.
Purcell started his career at Koch Industries, where he held various positions within the crude oil, natural gas and NGL business groups. In 2003, he joined SemGroup L.P., where he formulated asset strategies. Purcell executed the startup for SemGas, LLC, a new SemGroup subsidiary consisting of domestic natural gas gathering, storage and processing. As the President and Chief operating Officer of SemGas, Purcell closed two gas storage development projects in Western New York and a high-nitrogen gathering system and nitrogen rejection plant in Southwest Kansas.
Purcell moved to Calgary in 2005 to integrate and develop SemGroup’s $200 million acquisition of Central Alberta Midstream, renamed SemCAMS. He returned to Tulsa in 2007 as Executive Vice President for Corporate Development. While retaining responsibility for the SemCAMS P&L, Purcell led strategic initiatives for five North American business units and was responsible for the strategic planning, growth strategies and acquisition negotiations.
Purcell is a 1975 graduate of Wichita State University, where he graduated with a Bachelor of Science degree in Accounting. He completed his MBA in Finance in 1986, also at Wichita State University.
Thomas G. Daly
Executive Vice President Operations
Tom Daly has over thirty five years of experience in the midstream industry focused on onshore and offshore project development, operations, engineering, and business development. He has a comprehensive knowledge of the Midcontinent and Gulf Coast gathering and processing assets and an extensive understanding of the engineering, operational, commercial, and regulatory aspects of these areas. Tom is a skilled mentor and a seasoned developer and leader of multi-disciplined teams. From 2012 until joining Lakewood Midstream, Tom was Sr. Vice President of Engineering and Operations for New Frontier Midstream. From 2010 until joining New Frontier Midstream, he was a consultant engaged by several midstream companies, including Chesapeake Energy Partners, to evaluate midstream acquisition and development opportunities. From 2005 until 2010, Mr. Daly was Director of Business Development for SemGas, L.P. Prior to joining SemGas, he spent 26 years with Williams in a variety of engineering, operations, and business development leadership roles in the interstate pipeline and midstream business units.
Tom holds a Bachelor of Science in Mechanical Engineering from Texas A&M University and a Master of Science in Petroleum Engineering from the University of Houston. He has also completed the Enterprise Exchange Executive Education program at Rice University. Tom is a registered professional engineer in the state of Texas. He is a member of the Society of Petroleum Engineers and the Natural Gas and Energy Association of Oklahoma.
Senior Vice President Business Development
Mr.Wallace is the co-founder of Petreo, a domestic energy company that provides solutions to the energy supply chain. Prior to forming Petreo, Wallace co-founded SemGroup, L.P. (“SemGroup”) in April 2000. Wallace served as director, vice president, chief financial officer and secretary of SemGroup until July 2008. During his tenure, the company experienced rapid growth, and, by 2006, it had become the fifth largest privately held company in the United States, according to Forbes’ annual listing of private companies.
With $20 billion in revenues, $4.5 billion in assets and 2,200 employees worldwide, SemGroup was recognized as a leader in purchasing, selling, processing, storing and transporting fuel. While at SemGroup, Wallace, who has broad experience in growth and Mergers and Acquisitions activity, was responsible for 46 acquisitions in six years totaling $1 billion.
Before joining SemGroup, Wallace had more than 15 years of energy industry financial and administrative experience. He was chief financial officer for Anchor Drilling Fluids from 1994-1999 and served in the same capacity for Integrated Drilling and Exploration Company from 1982-1990. Preceding his tenure with Integrated, Wallace gained administrative management, financial and international experience working for Parker Drilling Company, living in Algeria.
Wallace holds a Master’s Degree in International Management from the Thunderbird School of Global Management, Glendale, AZ, which he completed in 1980. He earned his Bachelor of Business Administration degree from the University of Oklahoma in 1978.