Tri-C Resources Partners I, LLC is a privately held oil and gas exploration and production company headquartered in Houston, Texas. Established in 1985, the company has a longstanding history of drilling over 850 wells along the Gulf Coast of Texas and Louisiana. In 2017, Tri-C Resources shifted its focus to the Eagle Ford and Austin Chalk trends in Fayette and Lavaca Counties, Texas, through a partnership with a private equity firm. After exiting this region in 2020, the company formed Tri-C Resources Partners I, LLC in 2023, concentrating on acquiring and managing operated Gulf Coast conventional producing properties along the Texas Gulf Coast. This initiative is supported by a privately funded group of "friends and family" investors.
Key Strategic Focus
Tri-C Resources Partners I specializes in the acquisition and management of conventional oil and gas assets along the Texas Gulf Coast. The company's core objectives include systematic exploration, development, and opportunistic monetization of reserves. By leveraging its extensive experience and strategic partnerships, Tri-C Resources aims to optimize production and maximize returns from its asset portfolio.
Financials and Funding
As of June 16, 2025, Tri-C Resources Partners I reported annual revenues between $10 million and $100 million. The company has actively raised capital from investors, including a funding round on August 3, 2023, where it achieved 100% of its $40 million target from 68 investors.
Pipeline Development
Tri-C Resources Partners I focuses on acquiring and managing producing properties along the Texas Gulf Coast. The company's strategic approach involves identifying and capitalizing on opportunities within the upstream oil and gas sector, ensuring timely returns and sustainable growth.
Technological Platform and Innovation
Tri-C Resources Partners I employs advanced exploration and production technologies to enhance operational efficiency and resource recovery. The company's expertise in drilling and completion techniques, combined with its strategic focus on conventional assets, positions it as a competitive player in the industry.
Leadership Team
- Scott Cone: Co-Founder, Co-Owner, and President. Scott has been instrumental in guiding the company's strategic direction and growth since its inception.
- Chris Cone: Chief Operating Officer. Chris oversees the company's operations, ensuring efficiency and effectiveness in exploration and production activities.
- Mark Holmes: Chief Financial Officer, Controller, and Vice President. Mark manages the company's financial operations, including budgeting, forecasting, and financial reporting.
Leadership Changes
In 2023, Tri-C Resources Partners I appointed Chris Cone as Chief Executive Officer, leading the company's renewed focus on acquiring and managing operated Gulf Coast conventional producing properties.
Competitor Profile
Market Insights and Dynamics
The oil and gas exploration and production industry along the Texas Gulf Coast is characterized by a competitive landscape with numerous operators focusing on conventional and unconventional resources. The market is influenced by factors such as commodity prices, technological advancements, and regulatory changes.
Competitor Analysis
Tri-C Resources Partners I faces competition from various companies operating in the same region and sector. Notable competitors include:
- Princess Three Operating: Based in Henderson, TX, with annual revenues of approximately $100 million.
- J & J Solutions: Located in Perry, OK, generating around $27 million in annual revenue.
- REI Drilling: Headquartered in Salt Lake City, UT, with annual revenues of about $19 million.
- Phillips Energy: Based in Shreveport, LA, with annual revenues of approximately $12 million.
Strategic Collaborations and Partnerships
Tri-C Resources Partners I has engaged in strategic partnerships to enhance its operational capabilities and financial strength. Notably, the company partnered with a private equity firm in 2017 to focus on the Eagle Ford and Austin Chalk trends, demonstrating its ability to collaborate effectively to achieve strategic objectives.
Operational Insights
Tri-C Resources Partners I's strategic focus on acquiring and managing conventional producing properties along the Texas Gulf Coast provides a competitive advantage in the region. The company's experienced leadership team and targeted investment approach enable it to identify and capitalize on lucrative opportunities within the upstream oil and gas sector.
Strategic Opportunities and Future Directions
Looking ahead, Tri-C Resources Partners I aims to expand its portfolio of conventional producing properties along the Texas Gulf Coast. The company plans to leverage its expertise and strategic partnerships to enhance production efficiency and maximize returns. Additionally, Tri-C Resources Partners I is exploring opportunities to create side-car investment vehicles and additional partnerships to pursue diverse investment opportunities within the upstream oil and gas space.
Contact Information
- Website: www.tricresources.com
- Headquarters: Houston, Texas
