Former RSP Permian execs start blank check energy firm

By Luke Geiver | May 28, 2019

After developing, and then selling, RSP Permian Inc. for $9.5 billion to Concho Resources, a trio of former shale oil and gas executives are leading a new blank check energy company. Scott McNeill, Jim Mutrie, and Josh Rosinski will lead Switchback Energy Acquisition Corp. The team will be back by NGP Natural Resources XII, the same team that backed the RSP Permian team before the company was acquired by Concho.

Switchback will start by making an initial public offering. The company has proposed the possibility and is currently working through the U.S. Security and Exchange Commission.

When RSP Permian was acquired by Midland, Texas-based Concho Resources, the company had built up and developed an acreage position of roughly 92,000 net acres that produced roughly 55,000 boepd. The deal closed in the third quarter of 2018.

Prior to starting Switchback, McNeill was chief financial officer at RSP. Before that he was managing director in the energy investment banking group of Raymond James. Mutrie was previously vice president and general counsel for RSP. Rosinski was the vice president of reservoir engineering.