Arthur Budge has been President & CEO of Five States Energy Company, L.L.C. and its related entities since 1998.Mr. Budge has been a principal in Five States since its formation, initially serving as CFO. Five States was formed in 1985 to invest in the oil and gas properties following the global price collapse. Five States forms and manages private equity portfolios of direct investments in oil and gas producing property acquisition,upstream development and midstream assets. Mr. Budge is also a general partner, manager or director of several private investment entities in retail and real estate.