R. Graham Whaling serves as chairman of Headwaters Minerals, where he was a founding partner in 2016. Headwaters is currently managing three successful oil and gas mineral funds with operations in the Permian Basin of West Texas. Graham has had a long and distinguished career in the energy business and brings over 45 years of energy investing and management experience.

Before the founding of Headwaters Minerals, he was the CEO of Parkman Whaling, a Houston-based energy-focused investment banking advisory firm that he founded alongside Jim Parkman in 2007. Before forming Parkman Whaling, Graham was chairman and CEO of Laredo Energy, which he co-founded in 2001. Prior to Laredo, he was chairman and CEO of Monterey Resources, which was acquired by Texaco in 1997. Previously, he had been CFO of Santa Fe Energy, from which Monterey was spun off. Graham spent seven years as an energy-focused investment banker with Lazard Freres & Co. and First Boston. He began his career as a petroleum engineer with Ryder Scott Company. Graham holds an MBA from the Wharton School of the University of Pennsylvania and a Bachelor of Science in petroleum engineering from The University of Texas at Austin.