As we work on some new episodes for you, we'll be re-running some old favorites from the archive. Please enjoy this episode from back in February with Will Ulrich, the co-CEO of Presidio Petroleum.

Summary:
For most companies in the oil industry, drilling new wells is a major part of their business strategy. Today, we're highlighting a firm that's taking a very different tack.

Will Ulrich has served as co-CEO of Presidio Petroleum alongside his partner Chris Hammack, since founding the company in 2017. Presidio's mission is to generate the oil industry's best return on capital by delivering the industry's lowest operating expenses, highest profitability and best emissions profile — all without doing any drilling.

Today, Will shares Presidio's unique approach to value creation, their upcoming plan to go public via business combination, and the reasons why they're optimistic for the future.

Highlights:

• Founding Presidio (1:57)
• Going Public (4:45)
• The end of the 'Capital Intensive Shale Era' (7:06)
• Institutional Backing (8:58)
• Dividend (10:46)
• Private Equity (13:58)
• Reducing Operating Costs (17:21)
• Field Incentive Plan (20:55)
• Stable Well Production (22:30)
• Hedging (23:42)
• CapEx (25:43)
• Acquisition Strategy (27:23)
• 5-year Outlook (29:17)

Links:

Will Ulrich LinkedIn

Presidio LinkedIn

Presidio Website

ICR LinkedIn

ICR Twitter

ICR Website

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.

For all the recent negative news surrounding renewable energy in the US, the reality is that in 2025, around 80% of the new power generation that came online globally was renewable.

But to encourage global players to participate in that market for renewables, you need a rigorous system of verification, and a stable modern marketplace. That's where today's company comes in.

John Melby is the CEO of Xpansiv, the world's largest registry platform for renewable energy and carbon. John is an accomplished leader in energy and environmental markets, with over two decades of experience driving innovation in renewable carbon, natural gas, and power markets.

John joins us for an in-depth discussion on the current state of power generation, and how Xpansiv's platform is facilitating the growth of renewables.

Highlights:

• John's experience with energy markets (2:24)
• The opportunity for Xpansiv (3:44)
• Xpansiv's slate of services (5:05)
• Shifting energy consumption (6:22)
• Importance of registry infrastructure (9:05)
• Xpansiv's power business (11:39)
• Partnership with Constellation (13:56)
• Asia's role in the energy transition (15:25)
• Xpansiv's acquisition strategy (18:06)
• The evolving role of AI (20:48)
• Outlook for Renewables in the US (22:45)
• What's success for Xpansiv? (28:06)

Links:

John Melby LinkedIn

Xpansiv LinkedIn

Xpansiv Website

ICR LinkedIn

ICR Twitter

ICR Website

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

As we continue working on some new episodes for you, enjoy this look back at our episode from September with John O'Donnell, the visionary founder behind the clothing brand, Johnnie-O.

Summary:
When John O'Donnell founded Johnnie-O in 2005, his goal was to create a brand that combined East Coast prep with West Coast surf culture. 20 years later, you'll find their surfer logo in golf pro-shops and menswear stores across the country.

Today, John joins us to share his incredible journey from being a walk-on on the UCLA golf team to founding one of America's most iconic golf brands.

We get into the origins of Johnnie-O, discuss the source of their customer loyalty, and talk about their impressive growth over the last two decades.

Highlights:

• The opportunity John saw in 2005 (2:05)
• John's midwest roots (4:46)
• UCLA Golf team (5:50)
• Johnnie-O's differentiation (6:45)
• The origins of Johnnie-O (8:17)
• Distribution (9:28)
• Inflection point for the brand (10:28)
• Marketing evolution (11:37)
• Scale of growth (13:57)
• Breaking into women's wear (16:30)
• Avenues for growth (17:35)
• Tariffs (18:30)
• Outlook for Johnnie-O (20:27)
• Competitive Landscape (22:15)
• Lessons learned (23:13)

Links:

Johnnie-O LinkedIn

Johnnie-O Website

ICR LinkedIn

ICR Twitter

ICR Website

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co.