From one of the quotes from the article in the Denver Business Journal Career Advice article “The opportunities for the learning that take place in down cycles, for people who are early in their career, now is the time to raise your hand and say, ‘Give me the biggest pile of crap that you have,’” van Kempen said.… Read More »
My friends with OKT Resources, out of Edmond, Oklahoma made a prediction that I have thought about and agree with. Namely, there were 4,900 drilling rigs in 1981. We got down to some 700 or less rigs by 1999. Where were the rest? Scrap metal or parts for salvage. Was it the worse rigs that were taken out… Read More »
Several years ago World Oil magazine fired an editor for running editorials from Art Berman, one of a few oil field experts who claimed the Emperor had no clothes and the value of shale gas and shale oil plays were vastly over-rated. Art has continued to vet the “unconventional revolution” with his petroleum truth blog, http://www.artberman.com/blog/ . Meanwhile,… Read More »
The success of the oil and gas industry should speak for itself. And the result however, has been very low product prices. As mineral owners, we know that the trade-off is there are a lot more mineral owners sharing a lot more royalties, but to recognize that when prices fall by 50%, our income follows. Unfortunately, it often… Read More »
The notion that the pain will end soon, and prices will not so much stabilize as to see costs go down is a pipe dream floated by true “believers” not serious students of the oil business. There is an idea that you will see the cost of frac’cing and drilling go down to meet the prices imposed upon… Read More »
Pretty clearly, the Iran deal means more crude is coming on line. That is going only rile up the Middle East as it cuts into Iraq, Kuwait, and Saudi Arabian incomes…not to mention Russia. And as such it seems that we are on course for a multi year, if not decade long process of deflationary oil prices and… Read More »
When you get a mineral appraisal the appraiser needs all the info they can get. The more the merrier. And it needs to be organized. I basically cannot deal with a huge banker box of unsorted check stubs, often duplicated, etc. Organize the information. This is what I need. A LEGAL DESCRIPTION of the property being appraised. That… Read More »
There is good news and bad news. The good news is that wells decline very rapidly and the glut of oil production will evaporate rather quickly. The bad news is that there is so much associated gas I suspect T. Boone Pickens (who is in his 80s) comment that he expects to see $6 gas in his lifetime…well,… Read More »