Paul D. Westerman, '77
Paul D. Westerman is currently a Trustee and Director of the Westerman Family Trusts and Westerman Family Office, respectively. The Trusts jointly hold assets with a current market value in excess of $1 billion dollars, the principal asset being J-W Energy Company. Assets (held through partnership interests in Trust) represent a diversified portfolio including energy, commercial banking, real estate, healthcare and an assortment of private equity assets. Paul transitioned into the family office from J-W Energy Company in January 2013 to direct a greater focus on its operations, management of assets, and continued growth and diversification of the trusts’ portfolios.
From September 2011 to December 2012, Paul D. Westerman was Senior Executive Vice President and Chief Business Development Officer of J-W Energy Company, a family owned, diversified energy business with average revenues over the last eight years exceeding $800 million annually. The Company has over 1700 employees in six separate business units including: manufacturing, energy service, midstream and energy development. He was promoted to this position September 2011. In this position, he brokered an $84mm acquisition of Enerven Compression Company which closed in December 2012. Prior to this, he was Chief Operating Officer of J-W Energy Company from December 2005 to September 2011, and during this time all business units directly reported to him. During his tenure, revenues grew by more than 60% annually, on average, from $545mm to a peak of $1.2 billion in 2008. Over the same time period, ROE exceeded 22% per year average. He was appointed to the Board of Directors for J-W Energy Company in 1996.
He joined J-W Energy Company in 1984 with the responsibility to expand the company into exploration and production through its subsidiary, Cohort Energy Company. In 1997, he was promoted to President of Cohort Energy Company, now J-W Operating Company. As a result of his initiative and direction, Cohort Energy Company grew its production to become the 7th largest private gas producer in the United States, as ranked by the Oil & Gas Financial Journal in 2012. Cohort Energy Company had zero production in 1984 when he started and had an excess net production of 75 million mcf per day, prior to departure. He relinquished the Presidency of Cohort Energy Company in December 2005 to concentrate on his duties as Chief Operating Officer and Board member of the parent company, J-W Energy Company. In December 2012, Paul resigned from the Executive Management of J-W Energy Company.
From 1979 to 1984, Paul served as a production and reservoir engineer for Phillips Petroleum Company, Kerr-McGee Corporation and Terra Resources.
EDUCATION
Paul earned his Bachelor of Science in Petroleum Engineering from the University of Oklahoma in 1979. He is a Registered Professional Engineer in the State of Texas (78239), a member of the National Association of Corporate Directors, Society of Petroleum Engineers, American Institute of Mechanical Engineers and the National Society of Petroleum Engineers. Paul participated in Vistage International (formally known as The Executive Committee), a Chief Executive organization, for over 16 years (1994-2009).
PERSONAL AND COMMUNITY INVOLVEMENT
Paul and his wife Kathleen were married in 1978 and are parents of daughter Lindsey (1980) married to David Thompson, son Damian (1983), and grandparents to grandsons Paul (2008), Joseph (2010) and Luke (2013). When not playing transformers, trains or in the pool with their grandsons, Paul and Kathleen can be found honing their skills on the golf course, leading events at St. Elizabeth Ann Seton Catholic Church in Plano, Texas or assisting special needs children and adults.
