About Fivestones

Fivestones Energy LLC is a Midland, Texas based company actively engaged in the exploration, development and production of oil and natural gas in the Permian Basin of West Texas. Founded in December 2007 by a team of highly experienced and successful energy professionals, the overwhelming success of its first three projects, the Goliath Prospect, the Big Amigo Prospect, and the New Amigo Prospect, has propelled Fivestones into the forefront as being one of the great success stories of West Texas. With a business plan that focuses on identifying areas of missed opportunities in established, low risk, resource play areas, and then, using sound geological and engineering practices, optimized drilling and completion techniques, and low cost operations to exploit these missed opportunities, Fivestones has quickly developed a reputation for creating value and growth through finding strong, stable, long life and low risk, PDP and PUD reserves for the industry.


Headquartered in Midland, Texas, Fivestones Energy LLC used the success of its initial projects to establish a new partnership with Energy Trust Partners in 2012. This partnership, FSE Partners I LLC, is focused on exploiting the expertise of the management team to establish long-lived assets with significant development potential in the Permian Basin and other areas of prior experience.


Fivestones Energy LLC is pursuing properties throughout the Permian Basin and is actively engaged in executing its current drilling program.

Areas of Activity

Fivestones currently has drilling, completion, and operations as well as oil & gas interests in the following counties:


  • Andrews
  • Glasscock
  • Irion
  • Midland
  • Reeves
  • Throckmorton
  • Ector
  • Yoakum

The Team

Alan D. Peters, President
BS Petroleum Engineering, University of Texas at Austin

Over 28 years experience in various aspects of oil industry engineering, operations, proprietary technology development, business development, that includes eight US patents, multiple business start-ups and supply of products and services. He is founder of Tarpon Engineering and Tarpon Pipe and Supply. He is a Founder and Director of Composite Lining Systems, Patagonia Steel; Energy America, Fivestones Energy and Fivestones Ventures. He has many years of experience as an investment partner in a wide variety oil and gas drilling and production programs.

Earl Levea, Engineering
BS Petroleum Engineering, Marietta College

35 years of experience in the drilling, completion, and production of oil and gas wells. 30 years of experience specifically in the Permian Basin. Over 20 years of experience drilling, completing, and producing Spraberry wells across the Basin along with managing a successful, growing oil and gas business actively engaged in drilling "Wolfberry" type wells in the Spraberry. Responsible for all facets of managing an active oil and gas company including drilling, completions, operations. Additional expertise includes drilling and completing horizontal wells and operating wells requiring high volume lift equipment.

Jack Erwin, Geology
BS Geology, Stephen F. Austin University

Over 30 years of experience in generating exploration & development prospects, with a heavy influence of acquisitions. Primary experience has been in the Permian Basin with some experience in the Rockies, Oklahoma and Texas Gulf Coast.

All experience has been with small independents where responsibilities included all phases of exploration and development, from generation of the prospect to logging the well.

Tim Spencer, Finance
BBA Accounting, Texas Tech University

Over 30 years of finance and accounting and business management. He has served in executive management positions in Fortune 500 to start-up companies, including public accounting (KPMG Peat Marwick), banking (First American Bank and Bank One), real estate and manufacturing. Tim is a CPA and has been involved in all sizes of capital funding and equity structures.

Charlie McMillian, Land

Over 5 years experience in management of oil and gas properties. Acquiring and negotiation of mineral leases. Extensive knowledge of surface damages and settlement terms.

L.J. Glass, Accounting
BBA / MPA Accounting, West Texas A&M University

Over 8 years experience in all aspects of oil and gas accounting, joint interest billing, lease operations expense allocation and audit functions and settlement terms.


Physical Address Mail Address Telephone

Fivestones Energy LLC Fivestones Energy LLC Office: 432-618-9929

5211 Preston Dr. PO Box 51082 Fax: 432-617-2586

Midland, Texas 79707 Midland, Texas 79710

Name Email

Alan Peters alan@fivese.com

Earl Levea earl@fivese.com

Jack Erwin jack@fivese.com

Tim Spencer tim@fivese.com

Charlie McMillion