Growth Fund presents new business ventures and forecasts
The Southern Ute Growth Fund hosted an in-person and virtual General Membership Meeting for the Tribal membership on Thursday, Sept. 12, at the Sky Ute Casino Resort Event Center. The goal of this meeting was to provide an update on the Tribe’s state of business, showcase new business ventures, and forecasts for the fiscal year 2025. The meeting gave Tribal members the opportunity to ask questions about the Growth Fund after the presentations, helping them better understand the current year’s accomplishments. Southern Ute Tribal Council was in attendance, along with Chairman Melvin J. Baker. Leadership provided opening remarks and congratulated the Growth Fund on their continued success during their welcome to attendees.
Shane Seibel, the Executive Director of the Growth Fund, provided a comprehensive overview of the entity’s current state at a macro level and introduced the members of the Growth Fund Management Committee (GFMC) and all of Growth Fund’s business entities. He also discussed his vision and mission, highlighting the deep connection that aligns with the mission and vision of the Southern Ute Indian Tribe.
“My role is to maximize Tribal member equity and pave the road for our future generation,” Seibel said. “We’ve always been an oil & gas Tribe, but as times change, so must we. We’re diligently working on expanding and diversifying our investments and creating opportunities for Tribal member advancement.”
“Out of the last three years, we’ve had two of the best years at the Growth Fund,” Seibel said. “Most of the Growth Fund departments and divisions have performed around the expected budget with a significant growth increase in revenue. Even with the fluctuating markets, Growth Fund has continued to exceed fiscal projections as the entity prepares for transitioning to clean energy resources and greener business practices.”
“Along with the success in business, the Growth Fund also reported success in the safety and training of employees,” he said. “Our safety and environmental culture are high priority among all entities. Our Safety and Environmental Compliance Management Group (SECMG) completed 14 Environmental & Health Safety (EHS) reviews and audits in the last year!”
SECMG completed numerous safety training courses, including several defensive driving and First Aid /CPR courses. Red Willow Production Company completed one year without a recordable injury. Growth Fund has a lower injury incident rate than national averages.
The Growth Fund Mission
The Growth Fund is the business entity of the Southern Ute Indian Tribe and operates to grow the economic prosperity of the Tribe by managing the Tribe’s natural and business resources.
The Growth Fund and its Management Committee provide direction to the Southern Ute Tribal Council regarding important decisions and actions that will ensure the entity is moving in a successful and positive direction. The role of the Executive Director is critical as it aims to expand and diversify Growth Fund investment while improving the efficiency of its current resources. The role also assists in developing and implementing opportunities for Tribal member employment and advancement.
“My approach is to ask all the hard questions. Who we are, why are we here, and where are we going?” Shane said. “Maintaining discipline and a strategic approach in our business plans is essential for setting a clear direction for our ventures.”
Continuing our transition from the traditional oil and gas revenue to other clean energy resources. The Red Sage Carbon Capture Project at the Arkansas Loop is nearing completion, and the CO2 Pipeline project has been completed. The project designed to help methane and CO2 capture at an existing plant on the Southern Ute Reservation was first introduced to the membership at the 2022 Growth Fund General Meeting. Also, looking into new frontiers, our latest partnership with Panda Biotech is historic.
The Panda High Plains Hemp Gin Facility in Wichita Falls, Texas had its grand opening earlier this summer. Panda Biotech is one of the first producers in the emerging U.S. industrial hemp fiber and hurd industry. The 500,000-square-foot facility can process 22,000 lbs. of hemp fiber per hour, making Panda Hemp Gin the largest industrial hemp processing facility in the Western Hemisphere and second largest in the world. Strategic eco-minded partnerships like these will benefit not only our Tribe, but also provide sustainable solutions for the future.
Financial and Business Plans
The Financial and Business Plans have both been crucial in establishing and guiding the Growth Fund, while also ensuring the Tribe adheres to a successful business model for the future. Both our plans work together seamlessly to address key questions: how can we diversify our oil and gas revenues, how do we fund our governmental expenditures sustainably, and how do we establish a baseline equity distribution for our Tribal members.
The Financial Plan that created the Growth Fund is at its 25th anniversary. In 2024, we experienced the benefits of diversification. “For 2025, we will continue to grow businesses, prepare for energy transition, innovate, and transform,” Seibel said.
The Business Plan was recently presented and approved by Tribal Council. This plan also includes a new strategic workforce planning initiative that will guide us to develop future leaders and other contributors to maintain and optimize a high-quality workforce. “We’re excited about the future and, with our Business Plan now approved, we’re moving forward with full momentum,” Seibel said.
The meeting was recorded in full and is expected to be posted online to the Tribal Member Experience portal in the coming weeks.