Weyburn – Estevan’s Grant Fagerheim, of Whitecape Resources Inc., was inducted into the Saskatchewan Oil Patch Hall of Fame on June 7. Here is his biography, as read by Minister of Energy and Resources Dustin Duncan:
Grant Fagerheim is chairman, president and chief executive officer of Whitecap Resources Inc. He also currently serves on the board of Advantage Oil & Gas Ltd., a TSX publicly-traded company. As well, he acts as advisor to KES7 Capital and Stream Asset Management. He has worked in both the upstream and downstream segments of the energy industry and while doing so attended the executive MBA program at Queen’s University. He was founder of Ketch Energy Ltd., Ketch Resources Ltd. and Kereco Energy Ltd. (Cadence). His past directorships include both public and private energy companies and an oil and gas service company.
Grant was born and raised in Estevan, Saskatchewan where his father worked in the coal industry. Grant left home in 1977 to pursue his passion for hockey. He attended the University of Calgary and played hockey there and for a number of U.S. colleges.
“Hockey has always been my passion and it’s a passion I’ve carried forward into my approach to business. Whether in business or in sports, I’ve always focused on building teams. Each iteration of my oil ventures has focused on assembling strong teams,” Grant says.
Grant graduated with a business degree but was not immediately drawn to the oil industry at that time. He began to form a series of companies initially focused on natural gas.
Grant founded Whitecap in 2009 with a capitalization of $46 million, initially producing around 850 barrels a day. Today, the company is worth over $3.7 billion and produces just over 60,000 barrels a day.
Whitecap has enjoyed success in spite of the downturn in the industry.
“We were always cautious with debt so, when the downturn hit, we had the resources to pursue opportunities. You have to enjoy the thrill of the hunt in this game,” Grant says.
In his personal time, Grant enjoys playing oldtimer hockey and contributing to a variety of corporate and charitable boards. He has served as chairman of the Edge School for Athletes in Calgary. He has been a director of the Hockey Canada Foundation since January 2008, has served as chairman of the Foundation and was also a member of the Order of Hockey Canada executive committee. In recognition for his contributions to Canada he was awarded the Queen’s Diamond Jubilee Medal created in 2012 to honour the 60th anniversary of Her Majesty Queen Elizabeth II.
Through marriage, Grant has a strong family connection to the Saskatchewan Oil Patch Hall of Fame. Both his father-in-law, Bill Hay and his father before him are in the Hall of Fame.
Grant and his wife Penny have two sons, Brandon and Brett. He keeps up active contact with his Saskatchewan, especially with his sister in Regina.