A San Antonio oil and gas company executive was one of two men who died in a two-vehicle...
A San Antonio oil and gas company executive was one of two men who died in a two-vehicle crash this week, the Express-News confirmed.
Hayes, who was pronounced dead at the scene, was president of Activa Resources LLC, a San Antonio-based oil and gas company with assets in Texas, Louisiana and Arkansas. The dump truck overturned, and Garcia was ejected from the truck. He was taken to University Hospital, where he died.Hayes blamed the bankruptcies on minimal development and drilling activity because of “a dramatic drop in crude oil pricing during the COVID-19 pandemic.” He also cited restrictions on the companies’ cash flow as a result of hedging commitments required by secured lender Texas Capital Bank.
San Antonio-based Activa was formed in 2003, while Tiva launched in 2018. Besides their portfolio of oil and natural gas assets, they own working interests in assets owned by other companies.
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