A Fort Worth-based tech startup’s platform has been chosen by Frost Wealth Advisors as its mineral management software.
Frost said in a release that 5M’s Minerals Management LLC’s MineralWare is a state-of-the-art platform that makes the management of minerals, royalties, and non-operated working interests more profitable and less complicated.
Frost Wealth Advisors is a subsidiary of Cullen/Frost Bankers Inc.
“MineralWare will revolutionize the way we manage minerals and help maximize returns on our customers’ mineral portfolios.”
Pat Frost
The San Antonio Business Journal said that Frost will use the platform for roughly 700 mineral accounts spread across 25 states. The software platform will deliver critical information faster to the banking company and its customers.
“MineralWare will revolutionize the way we manage minerals and help maximize returns on our customers’ mineral portfolios,” Frost Bank President Pat Frost said in a release.
MineralWare CEO and co-founder Ryan Vinson said doing business with Frost was a great opportunity.
“This is just another example of how Frost has embraced technology and harnessed it to transform their business,” Vinson said in the release. “This is only the beginning of something extraordinary and we are proud to be a part of it.”
MINERALWARE AIDS LANDOWNERS, INSTITUTIONS, & FOUNDATIONS
Vinson told the Business Journal that his background as an executive leading the oil and gas advisory arm of Bessemer Trust was instrumental in developing MineralWare.
He said at Bessemer Trust, he managed royalties for clients with wells across 17 states. He also has industry experience as a land man, someone who works for other businesses to acquire the subsurface mineral rights from landowners so that oil and gas exploration can be conducted.
Vinson told the Business Journal that MineralWare was created for mineral rights landowners, financial institutions, and foundations to manage possibly disjointed portfolios where records may be split up — even inside a family partnership.
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