Energy
is 
freedom.

Abundant energy empowers people everywhere to live, grow, and lead more fullfilling lives.

A field worker in Sweetwater. A bitcoin miner in Pecos. A woman in Baghdad. Abundant energy might mean something different to each person. But for every one of us, abundant energy is freedom.

Our Vision

Pursuing Energy
Abundance

Energy is the input for human flourishing. The more energy people can access, the more they can thrive.

Energy comes from everywhere—the sun, the wind, and the rocks. Every source has value, and there is a smart, safe, responsible way to harness each one.

We believe there’s no such thing as too much energy, and that there are consequences when there isn’t enough.

That’s why we prioritize energy solutions that enhance reliability and affordability, ensuring we meet today’s needs while creating a future where everyone is empowered to realize their potential.

Cholla's Guiding Principles

These principles guide and inform the decisions we make as we pursue energy abundance for all.

Safety & Stewardship

No job should compromise one’s health or safety. That’s why every Cholla employee has“stop the job” authority. We strictly adhere to safety and environmental standards and continuously look for ways to exceed them where we can. We strive to be good stewards of the assets we manage, the resources we develop, and the relationships we build.

Informed Risk Taking

We thrive on the question, “What if?” At the same time, we are sensible about exploring our ideas. We experiment small to reduce uncertainty, build on each success, and learn quickly from mistakes. This not only ensures healthy progress but also accelerate growth

Soliciting Feedback

We expect everyone at Cholla to give and receive constructive feedback to improve themselves, the team, and the company. We ask ourselves and others, “What could I have done better?”

Commitment

We approach our work with intention and purpose, driven by an intense focus that transforms goals into accomplishments. We encourage healthy deliberation to arrive at sound decisions, and then we fully commit to executing. Afterward, we make time to reflect, assess, and learn.

Respectful Communication

We practice listening to understand rather than listening to respond. Active listening helps keep us open to others’ perspectives and creates opportunities for collaboration and problem-solving. We also expect every member of the team to respectfully speak their mind—especially when they’re offering a divergent opinion or constructive feedback. What we say is just as important as how we say it.

Continuous Learning

We view business as a learning contest that constantly pushes us professionally and personally. Our work is not a series of transactions—instead, it is fertile ground for learning and innovation where every challenge is an opportunity for growth and every failure is a stepping-stone to success.

The Cholla Team

Fiercely Independent Thinkers

“The ultimate resource is people—especially skilled, spirited, and hopeful people endowed with liberty—who will exert their wills and imaginations for their own benefit and inevitably benefit the rest of us as well.”

– Julian Simon

Cornerstones

The Cholla Way

This is how we show up and deliver on our promise of energy abundance for all.

We are independent.

If you’re for personal freedom, prosperity, and unlimited potential, join us.

We are pioneering.

We’re true wildcatters. Success comes through 
informed risk-taking and embracing failure. We surround ourselves with like-minded people and partners.

We are principled.

You’ll always know where we stand—and it will always be on the side of responsibility, respect, and empowerment.

History

Cholla Through the Years

1900
L.W. "Slim" Powell is born in Gladewater, Texas.
1916
Slim begins in the oil fields as a pumper at Caddo Lake in East Texas.
1926
Slim becomes a drilling superintendent and production manager in Wink, Texas for Southern Crude Oil later becoming Standard Oil.
1944
Slim purchases a broken down Cardwell drilling rig and began contract drilling in East Texas.
1946
Slim's only son, Loyd W. Powell Jr. is born.
1957
Slim incorporates his business as L&M Oil Company.
1972
L&M Oil Company opens its North Texas field office in Bowie, Texas.
1975
Following the passing of Slim, Loyd Powell Jr. takes over operations of L&M Oil Company and leads the company into a new era of oil and gas exploration.
1989
With more the 250 wells located across Oklahoma, North, West Central, and West Texas, L&M Oil Company changes its name to Cholla Petroleum Inc.
1995
Cholla Petroleum Sells the "Oletha Gas Field".
1997
Cholla opens up its Sweetwater, Texas Field office.
2008
Cholla discovers and begins development of the Sweewater Field in Nolan County, Texas.
2013
Gideon Powell, Loyds oldest son, joins the company full time leading the Cholla's entrance into the Permian Basin
2016
Cholla divest substantial Non Operated leasehold and production in the Howard and Glasscock County.
2017
Cholla Petroleum invest in "Hodl Ranch" through a JV to build out the 1st hyperscale (150MW's) bitcoin mining campus in West Texas.
2019
"Hodl Ranch" is acquired by a Silicon Valley start up while Cholla Petroleum spuds its first operated horizontal well located in Nolan, County.
2021
Following the passing of Loyd Powell, Gideon Powell, assumes the role of Chairman and CEO of Cholla Petroleum.
2023
Cholla energizes its "South Dunn" Load Center to pioneer cutting edge cooling and flexible load power strategies through bitcoin mining.
2024
Cholla Inc. is formed and rebranded as the parent company of its three divisions: Cholla Petroleum, Cholla Energy, & Cholla Ventures
IN MEMORIAM

Loyd Walter Powell, Jr.

1946 – 2021

During a career spanning nearly 50 years, Loyd W. Powell grew Cholla Petroleum, Inc. into one of Texas’ largest independent oil and gas exploration companies.

The Cholla Cactus

The Cholla [CHOY-ah] is one of the most popular and colorful species of cactus in the Southwest. Its blossoms appear in every conceivable shade of red, yellow, and gold. Along with its beauty, the Cholla cactus is known for its tenacity and longevity.

Cholla, Inc. has repeatedly overcome challenging times to become one of the most successful private oil and gas companies in the region. Inspired by the Powell family legacy—and driven by a bold, forward-thinking, resilient team—we will relentlessly pursue energy abundance to empower people in the communities where we operate and beyond.