Board of Directors
Midland is home to large corporations, innovative entrepreneurs, thriving family businesses, and cultural activities. Many of our area leaders have generously donated their time to growing Midland’s economy by serving on the MDC board. Their leadership, guidance and insight has been valuable to our organization and the many businesses we have helped to grow in Midland.
The Midland Development Corporation is governed by a seven-member board. Board members are appointed by the Midland City Council and commit to serving three-year terms. The current Midland Development Corporation Board of Directors are:
Wesley Bownds is the Permian Basin Regional President for Frost Bank. Prior to his forty-year banking career in Midland, he earned a Bachelor’s of Business Administration degree from Texas A&M University. Along with the MDC board, Wesley serves on the Midland Chamber of Commerce Boar...
1st Vice Chair
Stephen Lowery is a managing principal of Red Beard Capital LLC (RBC), engaging in sourcing and managing investments for clients. Prior to co-founding RBC, he was employed by Henry Investment Group (HIG) within business development. Before joining HIG, Stephen was the CFO of an oi...
2nd Vice Chair
Chase Gardaphe is a real estate developer focused on developing and managing manufactured housing communities. He is a graduate of the Texas A&M School of Architecture and received his MBA from Southern Methodist University. Chase has served on the Planning and Zoning commission for th...
Berry Simpson is a registered Professional Petroleum Engineer, licensed since 1986. He has worked with a variety of oil and gas producers in Midland since 1982, including Apache, Williamson, EGL Resources, BP, Great Western, Beach Exploration, Chevron, Mobil, and Amerada Hess Corporation. He earned ...
Jill Pennington is a shareholder at Davis Gerald & Cremer, where her practice emphasizes oil and gas contract disputes, complex personal injury matters, general corporate and business defense, and probate, trust and fiduciary litigation. She has represented a variety of clients in Texas, including oi...
P. Lourcey Sams is a co-founder of Pennant Development and Production, LLC (“PDP”). He has served as the President of the PDP since inception in 1998 and currently serves as CEO, Chairman and President. In addition to his positions with PDP, Sams has served as Presiden...