Chip Smith

Chip Smith is an American entrepreneur, oil and gas executive, investor, and mentor whose career has spanned exploration, drilling, production, and the acquisition of mineral and royalty interests across multiple U.S. basins. Born and raised in Clovis, New Mexico, he grew up in a farming and ranching family, where he developed the work ethic, grit, independence, resourcefulness, and practical problem-solving mindset that would later define both his career and leadership style.

He attended the University of Texas at Austin, earning a Bachelor of Science in Economics with a minor in History. After graduation, he began his career at Trammell Crow Company in Dallas during the savings and loan real estate downturn. A series of unexpected turns eventually led him to Midland, Texas, where a chance meeting with an oilman opened the door to the business that would shape the rest of his professional life. He started as a Landman and spent the first decade of his career learning the oil industry from the ground up. During one of the industry’s cyclical downturns, he returned to school and in 1999 began a three-year executive program at Harvard Business School, an experience that became a pivotal point in both his career and life.

Over the years, Smith helped found, build, and lead a number of successful energy businesses. Between 2004 and 2024, he, his longtime business partner Robert Beecherl, and their executive team built a group of companies from the ground up that ultimately represented approximately $3.4 billion in asset value. During that time, they partnered for 18 years with EnCap, a Houston-based, energy-focused private equity firm, and completed multiple competitive sale transactions involving assets acquired by larger independent and public oil and gas companies, with the largest portion of the Permian Basin assets now held by Ovintiv (NYSE: OVV). Today, Smith and Beecherl remain actively engaged in managing multiple mineral and royalty partnerships, as well as private equity investing, primarily in the energy sector.

A defining feature of Smith’s leadership has been his belief that culture is one of a company’s greatest assets. He has worked to build organizations that encourage creativity, independence, accountability, and growth. At Piedra, that philosophy produced not only strong business results, but future leaders: from a workforce that never exceeded 38 people, more than 10 former employees went on to found and lead companies of their own.

Smith has also remained active in philanthropy, nonprofit support, board service, and mentorship. In 2025, his family was recognized as Midland’s Philanthropic Family of the Year. He divides his time between Midland, Central Texas, and South Carolina, and remains active in organizations that reflect his ties to the culture and traditions of the American West, including Rancheros Visitadores and the Charlie Russell Riders.