Category Archives: Management

Arthur Budge, Jr.

Arthur N. Budge, Jr. is a Manager and the President/CEO of the Five States group of companies.

Mr. Budge received a BBA in Finance (1977) and an MS in Business Administration (1979) from Texas Tech University. From 1979 to 1981, Mr. Budge was employed by Arthur Andersen & Company as a management consultant. From 1982 to 1985, he was financial advisor for a Dallas family office.

Jim Gibbs

James A. Gibbs is a Manager of Five States Energy Capital, LLC and serves as Chairman of the Board of Managers of Five States Energy Company, LLC. Mr. Gibbs received a BS in Geology from the University of Oklahoma (1957), then served as a communications officer in the US Navy from 1957 to 1959. He received an MS in Geology from the University of Oklahoma (1962).

In 1962, Mr. Gibbs was employed as a geologist by The California Company (now Chevron-Texaco) in New Orleans and Lafayette, Louisiana. In 1964, he opened an office in Dallas, Texas, as a consulting geologist and independent oil and gas producer. He has initiated drilling prospects, purchased and sold oil and gas leases, operated wells, and served as an exploration consultant to several companies. From 1975 to 1978, Mr. Gibbs consulted exclusively for Petrus Operating Company. From 1978 to 1981, he consulted for Cornell Oil Company. From 1981 to 1983, he consulted for Lyco Energy Corp. Since 1964, he has participated in drilling more than 600 wells, primarily in Texas, Louisiana, and Oklahoma.

John Scales

John R. Scales serves as Vice President of Accounting for Five States.

Mr. Scales received a BBA in Accounting from Baylor University (1980). He worked in the audit division of Arthur Andersen and Company in Dallas from 1980 to 1983, last serving as an audit senior for a number of clients in various industries. From 1983 to 1998 he was employed by American Liberty Oil Company–the parent company of energy, hospitality, ranching and other investment entities–where he served initially as Chief Accountant and later as Controller.

Gary Stone

Gary L. Stone has served Five States as Vice President of Engineering since 1997. Gary has over 40 years of technical and managerial experience in the petroleum industry focusing on growth property identification and valuation, acquisition and divestiture negotiations, reservoir development and exploitation, forging and maintaining joint interest relationships, and production optimization. At Five States, Gary is responsible for the analysis and management of all company legacy reserve assets and analysis of assets for the company’s capital funds.

Prior to joining Five States, Gary worked in acquisitions and development, technical engineering software development and sales, reservoir engineering consulting, and energy banking.  A proud Petroleum Engineering graduate of Texas Tech University, Gary is a member of the Texas Tech University Petroleum Engineering Academy.

Steve Collins

Steve Collins is Vice President of Operations of Five States. He earned a BS in Electrical Engineering from New Mexico State University (1972).

From 1980 to 1984, Mr. Collins was Vice President of Engineering for Dorchester Enhanced Recovery Company, a division of Dorchester Gas Corporation. From 1984 to 1994, he worked for Halliburton Resource Management (HRM), a division of Halliburton Company, where he served as part of the senior management team of the second largest natural gas compressor rental company in the US. Mr. Collins served as Sr. Vice President of Wellspring Partners, LLC from 1995 to 2004.

Thomas Edwards

Thomas Edwards joined Five States full time in May 2014 as a Business Development Associate after earning from Southern Methodist University an MBA with concentrations in Energy Finance and Strategy.  During the year prior to his graduation, Thomas worked part-time at Five States while becoming deeply involved in the deal making process. Thomas is passionate about unlocking value in a broad range of energy investments.

Prior to beginning his MBA program, Thomas was a consultant for nearly five years. Based in San Francisco, he led consulting teams on various projects aimed at improving his clients’ financial performance. In June 2007, Thomas graduated cum laude from Cal Poly San Luis Obispo with a BS in Business Administration and a concentration in International Business Management.