Gideon Powell – 20 Under 40
Cholla Petroleum
Gideon Powell is continuing and expanding his family’s business.
Cholla Petroleum traces its roots to his grandfather, L.W. “Slim” Powell, who started in the oil business as an oil field pumper on Caddo Lake in East Texas in 1916. Operated initially as L & M Oil Company, in 1989, Cholla Petroleum became the company’s new name.
Over time, it expanded exploration and production into Oklahoma, Arkansas, Colorado, and North, Central, and West Texas. Gideon joined the company to lead its expansion into the Permian Basin in 2013 after a stint in Midland working for a royalty acquisition company.
“After a few divestitures, I stepped away from my role at Cholla to study the global power markets for investable CO2 utilization projects. It was during this time that we saw an opportunity in Bitcoin mining and high-performance computing to provide dispatchable electrical capacity to local grids,” Powell said. “I then co-founded Autonomous LLC as Cholla’s Bitcoin mining investment company. In 2017, Autonomous acquired raw land in West Texas and developed HODL Ranch 1, the world’s first hyperscale greenfield campus for Bitcoin mining. After divesting this 100-megawatt project to a Silicon Valley company, I rejoined Cholla as its president and COO to lead the company’s new vision, exploration efforts, and capabilities expansion.”
He said the experience deepened his understanding of the energy industry.
“I’m excited to continue driving Cholla’s vision of leveraging our venture mindset and operating capabilities to be the partner of choice in the discovery and development of transformational and environmentally responsible energy resources,” Powell said.
Outside the oil industry, Powell supports the Crystal Charity Ball, the Meadows Foundation, Buried Alive, which works to end federal drug-related life-without-parole sentences, and Men of Nehemiah, a faith-based organization that offers treatment programs for men struggling with addiction.
Who’s your biggest inspiration and why?
My dad. He loved my mom and passed away with all his kids proud of him. He left a legacy his family is proud of.
What was your first job, and what did you learn from it?
The (first) job was working on a drilling rig in South Oklahoma. My biggest takeaway was how much I have to learn. It’s very humbling being around large machinery and not (understanding) how it all works. Before the crews knew I was the boss’ (son), everyone was hard on me but also ensured I was being safe. After they found out I was the boss’ son, they didn’t tease me. I wish everyone could experience (firsthand) how important oil and gas workers are for powering our modern economy.
How do you motivate others?
I try to ask questions that get people thinking about what allows them to self-actualize and, in turn, motivate themselves. We are all motivated by different things, and I’ve been blessed that my parents encouraged me at a young age to find things that interested me. I want everyone to experience the joy of working on something that brings them joy.
