An executive in the oil and gas industry, Kenneth (Ken) Goggans serves as CEO of KAG Holdings, LLC, and Manek Energy, Inc., in Sulphur Springs, Texas. Ken Goggans holds a master of business administration in finance/entrepreneurship from Texas Tech University, which operates an Honors College mentoring program.
Texas Tech University’s Honors College consists of intellectually gifted students who enroll in a major from the Honors Arts and Letters program. The Honors College also runs the Bayless Elementary Mentoring Program that matches Honors College students with students at Bayless Elementary School. Through this program, Honors College students visit elementary students once per week to socialize, assist them with homework, and play games.
Established three years ago, the program has touched the lives of more than 300 elementary students, helping students who were on the verge of failing pass their course work. According to Amy Stephens, principal of Bayless Elementary School, it has become so popular that there is waiting list of teachers who want their students to participate.v
Texas Tech’s MBA Programs
The founder of a number of companies, Kenneth “Ken” Goggans has executed a range of valuable business deals. Ken Goggans earned his BBA and MBA from Texas Tech University (TTU). The school’s MBA program ranked among the best in the United States for 2016 in Bloomberg Businessweek’s annual rankings.
TTU’s Rawls College of Business offers specialized MBA programs intended to meet the needs of different students. Graduates of the program acquire the necessary business skills to be successful managers and leaders in their chosen fields.
The STEM MBA is the first of its kind in Texas and one of a handful in the country. It is for undergraduate degree holders with backgrounds in science, technology, engineering, and mathematics, and it can be completed in one year.
The MBA for Working Professionals is intended for those who want to remain fully employed while completing their studies. The program takes around 24 months to complete. Lastly, the MBA/Dual Degree Program enables students to complete an MBA in addition to a second graduate degree.
Piper J-3 Cub
Former commercial pilot and entrepreneur Kenneth (“Ken”) Goggans is an investment professional focused on companies in the oil and gas sector. In addition to founding several businesses in the energy industry, Ken Goggans helped in the start up process of the aircraft production firm American Legend Aircraft Company, a business among a select few that were granted permission to reproduce the classic Piper Cub plane.
The iconic Piper J-3 Cub is renowned among pilots and dedicated plane enthusiasts alike for its reliability, simplicity, and the nostalgia that it inspires. This light plane has seen many uses throughout its nearly 80-year history, serving as the plane in which many pilots learned to fly during the middle decades of the 20th century. Though known under a different name in the military, the Piper J-3 Cub was also the plane upon which many pilots relied in both World War II and Vietnam.
Love for the Piper Cub has also inspired several yearly fly-in events, where aircraft fans can observe several of the planes in flight, inspect them up close on the ground, and witness a variety of events that honor the spirit of the Piper Cub. Two of the more popular multi-day fly-in events occur every year in Lock Haven, Pennsylvania, and Lompoc, California.
Mergers and Acquisitions
Experienced entrepreneur Kenneth (“Ken”) Goggans has founded several oil-and-gas-related companies over the years. In 2013, Ken Goggans established a holding company, for the purpose of acquiring a collection of smaller businesses in the oil and gas services industry.
Known by M&A, mergers and acquisitions refer to transactions wherein a larger company purchases a smaller one, thereby obviating the need to expand, finance, or supplement existing operations from the ground up.
In a merger, two businesses combine to form a single, more effective enterprise. This typically results in the smaller of the two organizations relinquishing its name in favor of that of the larger one and a new organizational chart that can accommodate executives of both companies.
By contrast, in an acquisition, a larger company purchases a majority stake in a smaller one. By operating the latter as its own, the larger company can bring its resources to bear to increase the smaller company’s output.
New Oil Extraction Techniques
As chief executive officer of a Texas resource investment business, Ken Goggans has overseen the acquisition and management of oil and gas production companies. Kenneth Goggans has been involved in a number of high-profile oil and gas M&A transactions, including a $250 million Woodbine deal and a $275 million Eagleford deal. Throughout his decade in the business, Ken Goggans has emphasized healthy returns on investment while implementing the latest technologies and business practices.
As reported in the Wall Street Journal in 2015, low oil prices over the past several years have unharnessed innovative energy exploration routes that are generating more efficient extraction techniques. When prices exceeded $100 per barrel, the emphasis was simply on pumping oil as fast as possible. With prices at half that, data analytics are being combined with technologies to ensure that wells are being produced as cost effective and efficiently as possible.
In addition, refracking older less productive wells with advanced techniques while industry service prices are low has proven to be worth the investment.
Piper J-3 Cub
A successful businessman in the energy industry, Kenneth (Ken) Goggans has made several profitable deals with the acquisition of smaller oil and gas companies. Ken Goggans’ early contributions included a company licensed to manufacture the legendary Piper Cub airplane.
One of the Cubs’ best-known variants, the J-3, saw use as a trainer for pilots in World War II. The Piper Aircraft Corporation built some 10,000 Cubs, most of them the J-3 version, between 1937 and 1941.
Because those production numbers were so high, used Cubs are relatively inexpensive, costing roughly as much as a second car. Its simple design makes for low maintenance costs. The plane is suited for short trips, since its gas tank holds only 12 gallons. It consumes gas at five gallons per hour, but the engine can be tweaked for better mileage.
Although several Cub versions exist, the basic traits of the aircraft (i.e., flying characteristics, wings, and geometry) remain the same. With a ceiling of 11,500 feet and a maximum speed of 78 knots (90 mph) for the 1946 model, the J-3 is intended for low flight at a leisurely speed.