Ridgetop Capital, LP

The Ridgetop Team

Contact Information

Ridgetop in the news

Our latest sponsor, Ridgetop Capital Partners, is an energy and real estate investment firm. The firm manages a variety of investments directly and indirectly connected with the development of the Marcellus and the Utica formations. We want you to learn a little bit more about Ridgetop and who they so we put together this Q&A with Brad Carpenter and David Oliner, both Principals for the firm.

Q. Tell me little about the beginnings of Ridgetop; how did it come together?

Brad:  Ridgetop has acquired over 20,000 acres to date in six (6) separate funds or joint ventures.  I bought my first Marcellus property back in 2007.  After acquiring several properties either by myself or with partners - including David - I launched the first of our funds in 2010.  

David:  I've been an investor with Brad since the 'pre-fund' days and joined Brad as a full partner at the beginning of 2014.  Over the past 18 months, we dramatically expanded our capabilities and are now buyers of minerals in most of the active western PA, north WV and eastern OH counties.

Q. What do you think sets you apart of other royalty buyers? 

Brad:  It always important to know with whom you are dealing. It’s important to know whether the party you are dealing with is the buyer, a broker or are they playing some other role.  Ridgetop has become one of the largest private mineral owners in Marcellus and Utica because we can speak with the certainty of the party that is writing the checks.

Q. How are current commodities pricing effecting activity in the Utica/Marcellus?

David:  Clearly we are seeing the capital budgets for most active producers in both Marcellus and Utica being cut.  No one has lost enthusiasm for the long-term development of our area, but timelines for almost everything is being pushed out.

Brad: Everyone in the system, from producers to mineral owners, is being hit hard by these lower commodity prices.  There are a lot of deals in the market that have fallen apart as a result of this market move.  Working with the right groups is more important than ever in this environment.

Q. What do you see for future (1-2 years out) of the Marcellus and Utica? 

Brad:  Development activity is simply going to proceed at a slower pace, so patience is going to be really important.  Over the long term, Marcellus and Utica remain among the lower cost producers of Natural Gas and Natural Gas Liquids in the country, so we will recover.

David:  I agree that the long-term story remains very strong for our area.  In the short to medium term however, we are going to see a lot of changes.  These low prices are going to likely lead to consolidation amongst the drilling companies and it can be a bit difficult to estimate how that might impact each township or district or each county.

Q. What should people keep in mind when fielding offers?

David:  We think folks who are considering selling their mineral should focus on three things: pricing, certainty and timing.  All three are important, more so than ever in a market that’s moving around as much as this one is.

If you are interested in highlighting your company on GMS, contact Anna at anna@gomarcellusshale.com.