CPA AcADEMY

Jay Young is the Founder and CEO of King Operating Corporation, headquartered in Addison, Texas. Jay earned his Bachelor of Business Administration (BBA) degree from Angelo State University.

His journey started with various roles that eventually led to the establishment of King Operating Corporation in October 1996. Prior to establishing King, Jay gained experience with roles in both finance and the oil and gas industry. He served as Vice President and a Registered Representative of Texakoma Financial, Inc., worked with stocks and commodities as a Vice President at Dillon Gage, and traded stocks at World Market Equities. Additionally, he has been a member of Tiger 21 since 2011 and was a former minority owner of the World Series Champion Texas Rangers.

With over three decades of experience, Jay has earned a reputation for his strategic foresight and entrepreneurial leadership in the energy sector. He is also the Amazon #1 best-selling author of “The Upside of Oil and Gas Investing,” a Forbes Books publication that shares his deep insights into the industry.

In addition to his professional accomplishments, Jay is deeply committed to philanthropy. He serves on the executive board of Scouting America, where he mentors emerging leaders. He also contributes his time to the North Central Texas Chapter of the Alzheimer’s Association, actively promoting Alzheimer’s research and support services and serves as a board member for Nancy Lieberman Charities.

Jay’s philanthropic efforts extend beyond these organizations; he is an active member of his church, he is also involved in various other charities, reflecting his dedication to giving back to the community. His involvement underscores his belief in corporate responsibility and making a positive impact beyond his business.

Steve Mullican joined King Operating Corporation in April 2024 and was named Chief Operating Officer in June 2024. He has over 15 years of experience as an executive leader in oil and gas and over 35 years of experience in reservoir engineering, oilfield operations, asset exploitation and business development.
Most recently, Steve served as the VP of Engineering and Founding Partner at Colt Energy, LLC, where he played a pivotal role in the company’s inception and growth in New Mexico’s oil and gas sector. Prior to that, he was the VP of Engineering and Officer at Freedom Oil and Gas Company, a publicly traded entity on the ASX with operations in the South Texas Eagle Ford play.
In his career, Steve has held various executive, business development, engineering and operations roles across multiple Lower-48 basins. He is a member of the Society of Petroleum Engineers where he has served in a variety of leadership capacities.
Steve is a graduate of the University of Tulsa and earned a Bachelor of Science degree in Petroleum Engineering in 1984.

Kelly Duncan joined King Operating Corporation in November 2021 and in June of 2023 was named Vice President of Operations. He oversees the entire operational engineering department and himself acts as the company’s Drilling Engineer. He is also on the National Board of Directors for Oilfield Helping Hands (OHH), a nonprofit charitable organization helping oilfield families with financial assistance in times of crisis.
Diligent engineering planning and absolute cost control are 2 of his key drivers. Kelly’s 25 years of experience has been a mix of engineering and field operations for both operators big and small. He began his technical career with Coastal/El Paso where he rotated thru all engineering disciplines eventually became Sr. Drilling Engineer. He then joined Petrohawk and helped hone their Haynesville assets and kick off their Eagle Ford development eventually assisting in the sale and transition of the company to BHP Billiton. He next joined GeoSouthern Energy and helped build their Eagle Ford and Austin Chalk from a 1 to 6 rig program as Operations manager and assisted in the sale to Devon for $6 billion. After his time with Devon, he ran the technical side of Acock Engineering and Associates as VP of Engineering and worked with mostly independent operating companies acting in a variety of engineering and project management roles from stake to P&A. It is through this role that he met and joined King Operating. He has drilled and completed over 2,200 wells in 14 states and most the major plays throughout the country.
Mr. Duncan has a Bachelor of Science in Mechanical Engineering from Texas A&M University Kingsville (Texas A&I).

Bill has over 45 years of industry upstream operations experience in North and South America, including all phases of land, business/corporate development, exploration and production operations, and international joint venture programs. For the past 30 years he has held senior and executive management positions with notable companies such as Mesa Petroleum, American Quasar Petroleum Company of New Mexico, The Wiser Oil Company, Marsh Operating Company, Hunt Oil Company, and Skelly Energy Company.

He has served on various industry boards including the American Association of Landmen (AAPL), NAPE Operating Committee, Marcellus Shale Coalition, and local land organizations in Houston, Dallas.

Bill received a Petroleum Land Management degree from The University of Texas at Austin and currently serves on the Advisory Council of the Kay Bailey Hutchinson Energy Center at The University of Texas, The Texas Leadership Society and other boards at the University. In 2013 he was awarded the TIPRO Best Landman award and is a frequent speaker to various industry trade organizations as well as universities including TCU and The University of Texas at Austin.

Mr. Gifford, serves as the Executive Vice President, Tax of King Operating Corporation. He has 27 years of oil and gas industry experience serving as a Chief Financial Officer of King Operating Corporation and New Horizon Exploration Inc., respectively. His experience is primarily in the areas of accounting, partnership taxation, supervising the formation, management and economic reporting functions for the oil and gas properties and oilfields for private placement offerings. From January 1995 to September 2007, Mr. Gifford served as the CFO of New Horizon Exploration, Inc. Prior to his tenure with New Horizon Exploration, Mr. Gifford provided accounting and income tax services for industry, local public accounting firms, and as a Field Agent for the Internal Revenue Service. Mr. Gifford obtained a BBA in Accounting from the University of Texas.

Eric joined King Operating Corporation in May 2022. He left his position as Chief Growth Officer in June 2024, but has maintained a close relationship with King and we have benefited from his insightful The Rice Report podcast each week. Eric has been focusing on alternative investment opportunities outside of oil and gas and is currently serving as President of Sovrn Capital, a private equity group focused on data centers and bitcoin mining. In addition to his role at Sovrn Capital, Eric returned to King in September 2024 as Macro-Economic Advisor. He began his business career in Chicago, focusing on wealth management for high-net-worth clients, before spending nearly two decades building his own businesses. Throughout his career, Eric has showcased a keen eye for identifying the nuances of markets and spotting corresponding growth opportunities for investors. His real-world market experience positions him perfectly as our Macro-Economic Advisor.

“Central bankers, businessmen, and investors continually try to beat History to a pulp, but History always wins the final rounds.” —John Mauldin, – Thoughts from the Frontline.
When investors, financial professionals, and discerning citizens need a big-picture view of what’s going on in the economy, they turn to John Mauldin. And for good reason. John has dedicated more than 30 years to keeping people informed about financial risk.
John is a visionary thinker, a noted financial expert, a multiple New York Times best-selling author, a pioneering online commentator, and the publisher of one of the first publications to provide investors with free, unbiased information and guidance—Thoughts from the Frontline.
Thoughts from the Frontline began as John’s way of sharing his thoughts with a few associates. Some 20+ years later, it is one of the most widely read investment newsletters in the world. From his timely warnings of impending recessions in 2000 and 2078, prescient calls on market moves to thoughtful pieces on what the new Republican administration should do in in 2017, John has blazed his own trail as one of the most respected macroeconomic minds in the field. He has traveled to over 65 countries and all 50 states both researching on the ground as well as speaking to hundreds of groups all over the world.
He publishes Thoughts from the Frontline through Mauldin Economics, of which he is Chairman. Mauldin Economics publishes a growing number of investing resources, including both free and paid publications aimed at helping investors thrive in today’s challenging economy. John is also an investment advisor affiliated with CMG.
Together with Mauldin Economics, John proudly hosts the Strategic Investment Conference, an annual gathering of some of the world’s most brilliant economists and analysts. Thanks to its blue-ribbon lineup of past speakers and growing reputation as an incubator of forward-thinking investment strategies, the SIC is fast becoming one of the most hotly anticipated economic events of the year.
Additionally, four of John’s seven books have appeared on the New York Times best-seller list. He currently is working on The Age of Transformation, What the World Will Look Like in 2040, due out in the spring of 2020.
John is a frequent speaker at conferences around the world and is a sought-after contributor to numerous financial publications, as well as a regular guest on TV and radio. He currently lives in Dorado Beach East, Puerto Rico with his wife Shane and is the proud father of eight children, five of whom are adopted.

Aaron Ledyard joined King Operating Corporation in 2023 as Land Manager. Aaron is responsible for leading the company’s Land Team and Land Administration Team. Prior to joining King, Aaron worked as an independent landman with twenty years of experience in the areas of title preparation/examination, surface and mineral lease negotiations, project due diligence and acquisitions/divestitures. He began his career conducting land activities in North Texas and has extensive experience in the Permian Basin and the Mid-Continent. He has been an active member of American Association of Petroleum Landman (AAPL) since 2011. Aaron holds a Bachelor of Arts in Interdisciplinary Studies from the University of Texas at Dallas. He lives in Dallas with his wife and daughter. In his free time, he enjoys golfing, hunting, fishing and spending time with his family.

Ryan Goeres is a seasoned energy executive with over 20 years of experience leading high-impact operations in both domestic and international oil and gas markets. Currently serving as Executive Vice President of Engineering at King Operating Corporation, he brings a deep commitment to operational excellence, safety, and long-term value creation.

Prior to joining King, Ryan held several senior roles at Hunt Oil Company, including Vice President of the Kurdistan Business Unit. In that role, he oversaw all facets of operations in Iraq, including subsurface development, production, government and stakeholder relations, and commercial strategy. Under his leadership, the Kurdistan asset achieved an industry-leading safety record with over six years without a lost-time incident, reduced operating expenses by 15%, and developed a community engagement model adopted by regional authorities.

Ryan also served as Vice President for Hunt’s South Texas operations, where he led development in the Eagle Ford Shale, reduced operating costs, and introduced innovative well design strategies to improve efficiency. As Vice President of North American Production, he was responsible for a portfolio of conventional and unconventional assets, leading company-wide efforts in cost reduction, regulatory compliance, and environmental stewardship.

A values-driven leader known for empowering diverse teams and fostering a strong safety culture, Ryan Goeres continues to advise and support organizations in optimizing production, reducing costs, and delivering sustainable growth.

Mark Ayers brings over 40 years of oil and gas experience across the United States and internationally, with a career spanning exploration, development, acquisitions, and investor relations. His expertise includes generating drillable prospects, managing large-scale drilling programs, and evaluating high-value acquisition opportunities in the Lower 48, Gulf of Mexico, and Abu Dhabi.

He spent more than two decades in senior roles at Hunt Oil Company, where he led teams in evaluating producing property acquisitions in the Permian Basin, Marcellus, and Bakken plays, successfully securing joint venture partners and driving horizontal drilling initiatives overseas. Earlier in his career, he served as Exploration Manager at Pacific Enterprises/Terra Resources and began his industry work as a Development Geologist at Conoco.

Throughout his career, Mark has managed successful drilling programs in Texas, Oklahoma, North Dakota, Arkansas, Mississippi, Pennsylvania, and Alabama, while also preparing geological presentations for investors and divestitures. He has testified as an expert witness in multiple states and has held professional geology licenses in Texas, Wyoming, and Arkansas.

Mark holds a B.A. in Geology from the University of North Carolina–Wilmington and an M.S. in Geology from East Carolina University. Today, he serves as King Operating Corporation’s Executive Vice President of Geology, where he applies his extensive experience to advance exploration strategy, acquisitions, and investor engagement.