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Board of Directors

Board of Directors

U.S. Energy’s Board of Directors is responsible for assessing the company’s overall direction and strategy.  This majority-independent Board includes diverse experience across the oil and gas, financial and legal sectors and is comprised of individuals whose experience includes the co-founding of energy companies, members of executive leadership teams, financial reporting and IPO disclosure, and previous counsel to the US Senate Committee on Commerce and US Delegation to the United Nations.  View Executive & Senior Management.

Members Include:

Chairman of the Board

As the Chairman of the Board and Chief Executive Officer (CEO) of U.S. Energy Development Corporation, Jordan Jayson determines the vision and strategy of the firm, as well as oversees the implementation of all change management. A strong proponent of business growth Mr. Jayson, in coordination with members of the executive leadership team, drove the transition of U.S. Energy from an Appalachian-based producer to a diversified exploration & production (E&P) operating firm with assets located in multiple oil & natural gas basins. Under his leadership, the firm is in its best financial position since its inception in 1980.

 

As a result of his ongoing efforts to grow financial reserves, reduce debt, and increase cash flow, Mr. Jayson has directly strengthened U.S. Energy’s balance sheet and bottom line. Among his many business accomplishments, Mr. Jayson created multiple committees within the organization including safety, hedging, investment & finance, employee benefits, and ESG (Environmental, Social & Governance). 

 

Mr. Jayson joined the firm in 2009 as the Vice President of Business Development. In 2014, he was promoted to CEO, becoming the second-generation CEO. During his tenure, Mr. Jayson led U.S. Energy to invest in, operate, and/or drill more than 2,400 wells in 13 states and Canada; deploying more than $1.5 billion on behalf of its partners.

 

Prior to U.S. Energy, Mr. Jayson spent 10 years working on Wall Street where he was responsible for portfolio management and trading on behalf of his respective firms. He held positions at Arnhold S. Bleichroeder and S.A.C. Capital, respectively.

 

Currently, Mr. Jayson serves on the Board of Directors for The Lighthouse for the Blind of Fort Worth. He is an active member of YPO, TIGER 21, PathNorth, the National Association of Corporate Directors, the Independent Petroleum Association of America, the Fort Worth Wildcatters, the Petroleum Club of Houston, the Dallas Petroleum Club, the Avon Old Farms Riddle Society, the Avon Old Farms National Council Quail Coalition, and the Ruffed Grouse Society. He is also a lifetime member of Trout Unlimited and Ducks Unlimited.

 

Mr. Jayson earned his bachelor’s degree from Johns Hopkins University and his MBA from Texas Christian University’s Neeley School of Business. He received a designation of Aresty Scholar from the Wharton School of Executive Education and is pursuing his OPM from the Harvard School of Business.

Executive Director

Matthew Iak is the Executive Vice President of U.S. Energy Development Corporation and a member of the company’s Board of Directors. He has overseen the capital raise of more than $1.5 Billion in capital since he joined the company in 2005.

Mr. Iak has extensive knowledge of private placement, Regulation D, and estate and tax planning strategies. He has led the construction and underwriting of multiple new investment structures in the oil and gas space which include, energy 1031 exchange funds, private capital acquisition funds, and most recently qualified opportunity zone funds.

In addition to being on the Board of Directors at U.S. Energy, Mr. Iak is a member of the company’s second generation leadership team and serves as the President for a series of family real estate and real estate management companies. He is also the CEO and President of U.S. Energy’s Managing Broker Dealer, Westmoreland Capital Corporation.

Prior to joining U.S. Energy, Mr. Iak worked as a financial advisor and oversaw client assets in excess of $1 Billion.

A highly sought after public speaker, Mr. Iak is frequently invited to present within the financial community on oil & gas economics, taxation, and financial planning. Mr. Iak is a graduate of Canisius College and holds his FINRA Series 7, 24, 63, and 66 licenses.

Lead Independent Director

Robert Woody is the Lead Independent Director on the Board of Directors for U.S. Energy Development Corporation. As a member of the Board of Directors, Mr. Woody is responsible for contributing to the company’s overall direction and strategy.

 

Mr. Woody has co-founded successful energy, private equity, and insurance companies including Elgin Energy LLC and its subsidiaries, MHA Petroleum Consultants LLC, and Bayswater Exploration & Production LLC. He currently serves as Managing General Partner of Elgin Capital Partners.  He was a partner at [Casey] Lane & Mittendorf and Shook, Hardy & Bacon LLP where he served as Chairman of the Energy Section of the firm. His clients included Phillips Petroleum, Conoco, DuPont, Fortune 100 companies, independent exploration & production (E&P) companies, the New York Mercantile Exchange, and state oil and gas commissions and industry organizations.

 

An influential figure in the natural gas industry, Mr. Woody served as Counsel to the U.S. Senate Committee on Commerce and helped draft the Pearson-Bentson Bill, a natural gas deregulation bill, now the Natural Gas Policy Act of 1978. Mr. Woody was Special Counsel to the U.S. Delegation to the 33rd General Assembly to the United Nations. He co-authored Barriers to the Development and Expanded Use of Natural Gas Resources, commissioned and published by the Interstate Oil and Gas Compact Commission in 1992.

 

Mr. Woody received his Bachelor of Arts degree in history and political science and his Juris Doctorate degree from the University of Kansas.

Independent Director

Christer Rundlof is an Independent Director on the Board of Directors for U.S. Energy Development Corporation. He brings more than 20 years of experience across multiple industries to the role, including midstream, equities investing, investment banking advisory, and manufacturing.

 

He is the founder and Chief Executive Officer of WhiteWater Midstream. Prior to this, Mr. Rundlof served as Vice President of Business Development for Canyon Midstream Partners, Director of Business Development for DCP Midstream, a Senior Analyst for S.A.C. Capital, an Associate for J.P. Morgan, a Six Sigma Business Team Manager at Black & Decker, and a Production Engineer at Praxair Surface Technologies.

 

Mr. Rundlof received a Bachelor of Science degree in mechanical engineering from the Georgia Institute of Technology and a Master of Business Administration degree from the University of North Carolina, Chapel Hill.

 

Independent Director

Josh Sherman is an Independent Director on the Board of Directors for U.S. Energy Development Corporation. With a career spanning more than 20 years, Mr. Sherman brings his robust experience in technical research, capital markets, and SEC reporting assistance to U.S. Energy. His specialties include technical accounting research and guidance, SEC reporting, pre-clearance and response letters, derivatives instruments and hedge accounting, stock-based compensation, purchase accounting, impairments, structured transactions, and revenue recognition. 

Overseeing a team of more than 30 professionals he is a partner at Opportune, a leading global energy business advisory firm based in Houston. Mr. Sherman led all financial statement and disclosure aspects of the IPO process for more than two dozen clients within the exploration & production (E&P), midstream, oilfield service, and power sectors. 

Mr. Sherman has previously served on the Board of Directors for multiple oil & gas entities and currently serves on the Executive Council of the McCombs Energy Initiative at The University of Texas at Austin McCombs School of Business.

Mr. Sherman received his Bachelor of Business Administration degree and Master in Professional Accounting degree from The University of Texas at Austin. He is also a member of the American Institute of Certified Professional Accountants (AICPA) and National Association of Corporate Directors (NACD).