Tony Sanchez III is the CEO of a shale oil company that has had much success from drilling oil wells, however when oil prices sharply fell, in addition to being over leveraged, led to the company going bankrupt in 2019. This has led to the CEO starting a “second act” as a CEO, not in oil and gas but in a new-energy boom with a shift entirely to a climate friendly business. The new company, OneNexus is now building solar farms, manufacturing sustainable jet fuel, and cleaning up emissions generated from the use of fossil fuels. The business plan of the new company is framed as what he calls a life insurance for oil wells – policies that pay out money needed to shut down and cap wells after they expire. Currently, many struggling oil-and-gas companies abandon their wells without capping them, leading to tens of thousands of so-called orphan wells that leak methane—a potent greenhouse gas—as well as other toxic fumes. Tony’s vision for the company hopes to embrace the efforts to curb climate warming emissions.

https://www.wsj.com/business/energy-oil/a-shale-oil-ceos-second-act-going-green-5b8cdd7d