Entrepreneurial Diggers Give Back

Lifelong friendships begin in many ways. For Adam Gollofon and Barrett Frizzell, theirs began in the late ’90s while attending the Montana Tech Foundation. During the final semesters before graduation, the duo discussed dreams of one day starting their own energy company. Over the next 15 years, Adam and Barrett carefully crafted their individual careers with that dream in mind.

Finally, in early 2015 the time was right to start their company. With the loving support of their wives and young families, the two quit their jobs, joined forces with two other co-founders who were focused on geology and finance, and began to look for both assets and equity. After leveraging business development and banking relationships and threading the needle on an acquisition negotiation, Massif Oil & Gas was born.

The duo assembled a staff of 20 and drilled seven horizontal wells in two short years. The first iteration of Massif was an extremely successful venture for all equity stakeholders. The next iteration of Massif was moved to Bozeman, Montana. “It felt good to bring our families back to the state we love, and to bring good paying jobs along with us,” notes Adam.

Moving back to Montana also opened the door to take advantage of the state’s qualified endowment tax credit. With some help from the the Montana Tech Foundation Foundation, Barrett and Adam were able to set up family-named scholarships, a clever, tax-advantaged way to give back to the school that preserves their legacy and assists future generations of entrepreneurial Diggers.

Like Adam and Barrett, you can support student success in programs close to your heart at the Montana Tech Foundation with a gift in your will or estate plan. To learn more about your options, contact Luke Meyer, MSPR at 406-496-4144 or lmeyer@mtech.edu.