Lisa Stewart has never shied away from a challenge. Growing up in a family steeped in the energy industry, her curiosity in the field was sparked from an early age. As only one of five women in a class of 75 students to graduate with a bachelor’s degree in petroleum engineering, she found her passion and proceeded undeterred into a successful career in the oil and gas industry. “My dad had been a graduate of petroleum engineering at TU,” said Stewart. “I had been around rigs and the industry my whole life, and it was what I really wanted to do. At the time I graduated, I think five was a pretty considerable number (of women), so there were enough of us that we could band together, but I also never minded hanging out with the guys.”
After graduating from Tulsa’s Memorial High School in 1974, Stewart took a circuitous path to TU. She first attended the University of Oklahoma journalism program, which she didn’t find very enjoyable. Then she took classes more aligned with engineering at the University of Iowa for a time, before finally meeting with Dr. E.T. Guerrero, the chair of TU department of petroleum engineering, who suggested she take a few more math classes before applying for admission. “I think TU for me was perfect,” reflected Stewart. “Because of the size, I could have strong interaction with my professors, and they took interest in me, which was really important. A good business lesson I took away from these experiences is that it matters how you interact with people, how you engage with and care for them.” As a non-traditional student, Stewart’s time at TU meant balancing work and school. “I worked 40 hours a week, found jobs that would let me work during the day but take a few hours off to go to my classes and then go back to my job,” said Stewart. “It was hard work. Looking back on it, I am proud of what I accomplished. It worked out really well.” While in school, Stewart gained invaluable experience working for MAPCO, as well as Skelly Oil Company. She added to her resume through Cities Service Oil and Gas Company, where she was employed at the time of her graduation from TU. She accepted a position in Tulsa for Cities Service shortly thereafter. After a brief tenure, she accepted a job with Apache Corporation, a smaller company that offered more opportunity for professional growth. Over the next 20 years, she was promoted to various positions ranging from Reservoir Engineer to Executive Vice President of Business Development, where she assumed responsibility for reservoir engineering, business development, land, environmental, health and safety, and corporate purchasing. She loved every minute of it. “I got to be involved in the design and drilling of wells, and it was fabulous. I loved the early days of Apache and never thought I would spend 20 years of my career there,” recalled Stewart. After navigating several roles of progressive responsibility at Apache, Stewart began to contemplate new leadership opportunities in the field. “What I really wanted at that point was to embrace a big operating role,” said Stewart. “I wanted to prove that I could not just buy things and make them work, but I could actually operate an entity. And so, I went to work for El Paso.” The year was 2004 and El Paso E&P, a large, corporate entity with big pipeline infrastructure, had a lot of debt. Stewart led their exploration and production, and other non-regulated businesses, including international power plants and telecommunications entities. She earned a great deal of experience along the way. “After two and a half years with El Paso, a friend who worked for a private equity shop, reached out with an idea for a start-up. At the time, I was trying to help him find somebody to run it,” said Stewart. “And then I looked into my heart and told him I would take the job. That is how we formed Sheridan Production Company in 2006.” As co-founder of Sheridan, Stewart led a team of seasoned oil and gas executives in partnership with the private equity investment firm Warburg Pincus. Today, the company operates mature producing properties in East Texas with the goal of returning value to partners through cost-efficient operations utilizing best in class environmental and safety procedures. Stewart served as Chairman and Chief Investment Officer from its founding. “We had our final close on our first fund in 2007, and we have continued operating for 15 years now,” said Stewart. “In 2020, I retired as Chief Executive Officer but remain Chairman. I also serve on three public boards and remain as busy as ever...just at a different pace.” Stewart serves on the Coterra Board of Directors, which she joined after a six-year term as a board member of its predecessor company, Denver-based Cimarex. She also serves on the boards of Jadestone Energy and Western Midstream Partners, LP. The University of Tulsa has remained a prominent influence in Stewart’s life. In 2006, the College of Engineering and Natural Sciences inducted her into its Hall of Fame. She has served on the Petroleum Engineering Industry Advisory Board since 2014, and has been a member of the Dean’s Circle for many years. To Stewart, being recognized as a 2022 Distinguished Alumnus was an incredible honor and particularly meaningful at a time when a dear friend is retiring from her alma mater. “(Dean) Jim Sorem reached out to me recently, which he always does when he’s in Houston,” said Stewart. She noted she was deeply touched that he extended the invitation to be recognized as a Distinguished Alumna on behalf of the university. “He was very, very genuine with his presentation of the idea and, you know, it was so special to me. I care deeply about this university, and this is a true honor.” After her meeting with Dean Sorem, Stewart confessed she did a bit of research on previous Distinguished Alumni. “I looked at the list and saw Rue McClanahan (BA ’56) was a 1999 Distinguished Alumna, so I guess I’m kind of a golden girl now,” she said with a smile.