20 Episode results for "west Texas"
West Texas Strong
"<music> the permian basin is an abundant oil and gas producing area already one of the world's leading oil producing regions the <unk> area in west texas and southeastern new mexico could nearly double crude oil production by the year twenty twenty three but who are the leaders behind this economic powerhouse and what is their story. This is permian perspective. I'm your host krista as skinny. Hello and thank you for joining us for this special edition of permian perspective. I'm krista s skinny. The permian basin is morning this week. After a tragedy hits are west texas towns of midland and oda over the weekend on saturday august thirty first at three fifteen pm. The gunman was pulled over for a traffic violation on interstate interstate twenty near midland texas department of public safety trooper was shot by the gunman who then went on a terrifying shooting spree spanning two cities and and fifteen different locations eight people are dead including the gunman and twenty one injured including three law enforcement officers and a seventeen month old girl. The gunman was eventually killed in a shootout outside. A crowded movie theater in odessa midland. Police officer rammed into the stolen united states postal van. The shooting spree caused panic around odessa midland as businesses around the city shut down and police warned people to stay indoors. You never think this is going to happen in your hometown and when it does a range of emotions happen now the healing begins. I i'd like to thank all of our first first responders who run toward danger to protect our community thank you to the medical community who jumped into action to save lives under life or death circumstances and thank you tour community who has come together in prayer and giving in true west texas fashion hundreds of thousands of dollars has already been raised by the permian residents. My former boss john bushman with i._c._a. Donating one hundred thousand dollars alone mr rogers mom said it best when you see tragedy on the news news look for the helpers west texas. Helpers are the best we're stronger together and will overcome this evil. We will be there for the families who lost lost loved ones and we will honor their memory. Please join me for a moment of silence for the brothers. Sisters fathers daughters parents who lost their loved ones. It's if you would like to help our community several go fund me. Accounts have been set up and you can find the link in the show notes. Thank you again for joining us for this special edition addition of permian perspective. We are permian strong. God bless west texas and god bless america. Hey guys this is alice. What's in here the events on deck for september two thousand nineteen. We are bringing oil and gas tech podcast to the internet of things conference in houston texas on september sixteenth through seventeen joining us. We'll see you marty sprinzen advantage. You can register online at -iety in oil and gas dot com. The midstream networking golf tournament will be held on september sixth. Two thousand nineteen in cyprus texas and address of course is golf attire. Sporting clays tournament will be on september twentieth two thousand nineteen gene in katy texas dress casual the blockchain and oil and gas conference is in houston texas on september eighteenth through nineteenth and address dress business casual offer september hope you guys have a great month and thanks for tuning deep tune in next week for another episode of permian perspective it production of the oil and gas global network learn more at w._w._w. Dot g g n dot com.
Wild West Texas | Chapter 8
"If you know where to look their pockets in west Texas were visions of the old West still appear from time to time like marriages in the heat. I caught a glimpse one Saturday morning. Last December perched atop a pipe fence at the bullhead ranch some forty miles north west of Vo Desa scanning the horizon when a white faced hereford cow steps through thick tangle of mosquitoes. I don't see the cowboys she. She was followed by her calf seconds later. A herd of rust colored cattle bursted the brush and came streaming toward me guiding the cattle. Were a dozen cowboys. Most of them were chaps in wide-brimmed hat all were on horseback cowboys. hipped and hollered as a push the. Hurry the hooves of the animals turn up dust and sent pill clouds streaming into the wide empty sky. I was staring at version of West. Texas that existed long before oil changed everything. I'm Chris Wallace and this is Boon town a podcast about the historical boom playing out right now. In Permian Basin a half century before the first oil rigs punched holes across West West Texas scenes. Like the one you just heard were common. Ranching was the area's primary industry in this episode. We'll meet cowboys and cowgirls those who still work there ranch on horseback rural West Texans fighting to maintain their land and way of life while their ability to make a living off. The land gets harder and harder art. This boom can be a blessing and occurs this episode wild West Texas Telling you this Oh crack because I could long enough. This is my granny Johnny Witts. I'm helping her make brittle for a family Christmas party party. I'm holding onto a pot of molten corn syrup while she scrapes it off into a sheet pan smooth like down here. I'll show you the difference. OUGHTA be on smooth this out again when I go okay that stuff yes skull skull the balls off a brass what it would do. My granny is full of such things things. A winter day might be cold as frogs button. Alaska's what always site in summertime Texas is hotter than a gene autry pistol fire SAM rounds. She is as she says. Appeared de country. Girl that's got us all we do. Her House is kind of a shrine to the country country life on the shelves or trophies. One from showing horses and bronze sculptures cowboys on horseback sculpted by Betty. Sue Rose Grainy sister betty sue also painted many of the scenes on the wall. Ranch hands working cattle horses grazing in idyllic pastures over. The fireplace hangs a portrait portrait of my great grandfather. Astrid buckskin horse tipping his hat. The cookie jar which has had since I was a kid is shaped like a horse. I am as when you open it for a treat. When was the first time you remember getting on a horse well? My mother has a picture of me when I was three months old and I am on the Horse With Dad. He's got me sitting at between the ears of his horse and I just was with horses from the no granny's House is eight miles. Outside of my hometown of Andrews we call the twenty Acre spread the bean farm when she and my Grandpa Wallace moved. If they're in the early seventies money was tight so for a little while granny served a big pot of beans for nearly every dinner at the time. They're little three bedroom room. House was the first home on a dusty Colucci road with no name. Omar Land Jess. We moved here in one thousand nine hundred seventy three. We were the only ones out here. This has and the one on the corner down. There's only houses that were here. My Dad was in fourth grade at the time he remembers helping. My GRANDPA weld all together. Oilfield pipe that forms the horse stalls and roping arena. That still stand today. Not Long. After they settled at the bean farm Janney came home. One day to find that the county had placed a sign at the turn off to their house. It was green with white letters and it said Wallace road. Granny was awfully proud of that. Besides a short extent living in Midland when she was in elementary school granny has always lived in the country mostly on ranches in West Texas. Oh Yes my dad left. School school hit fourteen and rode horseback from Midland Texas to Silver City New Mexico. At that time mom mom was living on a ranch out there with her mom and dad and brothers sisters and he met her then. This was the nineteen thirties thirties. There were cars on the road but as granny said my great grandfather chuck Houston made the four hundred mile trip on horseback. But I as Daddy Daddy. When he rode out there to silver city? I said Dad. How did you eat? He said well. There's ranch is all the way from here to Silver City New Mexico EXCO so he would stop in and for his time there. Because I'm sure he didn't have rid sent to his name. They did have of BRONC- or two that needed to be started and so he would start their colts and ride and he'd eat and sleep there for his board and were rather horse. My Great Granny Billy. macdermott was still in high school when the two met Chuck worked on nearby ranches waiting for for her to graduate so they can marry and I remember him telling me that when they got married and they had one horse and the head of pickup that had wooden sideboards aboard the side. They horse up in the back of the pickup and drove to Midland Texas and when they came to midland they had one damn Between while working ranches around midland they had granny and later betty sue granny took to the ranch live from day one when she it was three years old she had a gelding named Dash. The daddy would sadly map. Put Him in this pen and I would come up on the fence. Get off on him and riding in writing until I got hurt and I was only three then but I can remember that is playing as if it was just growing up. nope granny's heroes. Were singing cowboys gene. Autry Roy Rogers and hop along cassidy she and betty sue would often grab their cap guns. Saddle saddle their horses and head out into the pasture for make believe camp outs. They'd swap out playing the sheriff for the outlaw. Even in the nineteen fifties. He's summoned the houses. Granny lived in. Didn't have electricity at night. They would burn coal oil lamps and being far from town met you or even less protected did from the elements that was during the era of in those big sandstorms would roll in. And you could see him coming they would be re hid in like this and we would all everything down real good and that Oh house that we lived in there it will be dirt inside the House of that window. Sale that day and we'd cover our beds with a sheet so that when we I went to bed we'll take that sheet off in all the dust dirt would be on it. They weren't in fact many times. We've put a wet handkerchief live across her nose so we can raise granny. I started working cattle alongside her father when she was a young girl she developed a knack for treating animals whether she was working on heifers with screw worms or bottle feeding a newborn Colt and then we get our horses trailer rope motormen trailer you bring him to the worming trips. What we call it? We put the sick so we could watch and make sure that they healed up. It was pretty trying little chore. Did you like doing that though. Oh my word yes I thought I was in heaven. Living Out in the sticks also meant the granny rode the bus to school in sixth grade. She got transferred to what was known as the rich kids school. For the first time she was in class with the children of bankers and local oilman. It was a tough tough transition. She would cry because she didn't fit in with the city kids eventually though. Her outlook changed. I learned that I felt much much more privileged to have come from my background as country girl and I didn't care if they call me a country girl. I was tickled to death over that after graduating high school. She met my grandpa Bob Wallace like her mom. Granny became the wife of a ranch. Hand one of her responsibilities was cooking for a crew of cowboys and that was up. Mostly our menu was chicken fried state potatoes. Data's and gravy and there'd be vegetables thrown in some green beans or corn and later on we we did try I out some Jello Salads on cowboys and they will not eat green jaw. So it's got to be rid really regardless of the flavor cowboy thing I Guess Cowboy League like she did when she was a girl. Granny gave basic medical attention to everyone everyone out on the bean farm both four-legged and two legged variety. I mean you're basically kind of a horse vet in some ways. Oh yes I've had a lot. The people called me for that things in fact I had a main come here one time and he had a fighting rooster and this rooster go beat up pretty bad he he say. Can you give my rooster penicillin shock and thought. Where do you get A? But I feel a little strange about three CICI's penicillin and police bigalow leg out just gave him ms shot in that leg in that made it to Louisiana and raised more fun chickens for him. I experienced experienced this. Then you used to give dad the same shots he'd give the horses gave him. I gave Him Bay twelve and I wouldn't go with the penicillin and stuff because that strictly I kinda figured that was veterinary purpose. Only only but part of what grigny enjoys most about living on ranches around West Texas is the practice of neighboring the women would come with the US this bins when we branded and we'd be peeling potatoes chopping onions and everything getting lunch. Ready for them. While they were out brandon and and gathering in brandon the cattle so we had a lot of good camaraderie there with the neighbor women and and their husbands events because they would come. Help us do our brandon when she wasn't cooking granny was out riding horses tending cattle and helping thing with other chores required to keep going. It was hard work but sweat never bothered her. What shook her toughness to the core was going through a divorce divorce a few years after they'd settled in at the bean farm my granny and GRANDPA split up? was that hard for you to to go through a divorce. I like in the seventies and I thought my life is over because I didn't marry divorce. Yeah I'm married till death to US part. My grandpa headed north leaving granny to take care of the place with just. My Dad and my uncle ski to help train. The horses run the stables that was one of the hardest. There's times through. My life was to get through that and not have the fame because I am a very family oriented in person I liked the I love my family and didn't like going places without him with me is he was the other half Jeff. I didn't like just me and the boys going because they don't have a dad anymore due dot worked but I I pray through it but I think my best solitude was was when I was just distraught to the point. I didn't know what to do next. I've just opened up my Bible and read all four page for called Columns and I don't care where in that bobby were I would get pace. Would you ride horses at all to do that. I was still riding. Oh Yeah See. When he left we had four or five horses here that we were still there? Were still in training. I was taking an eight hour job and come home at five o'clock and ride at least two horses every day and switch off the next head right there there too and they would vent ride those horses out there in the pasture hollering 'cause scream and get it system go back and have to be civil altima kids being a single mother and operating. The bean farm wasn't easy with two wild adolescent boys one time. My Dad wrecked his motorcycle on the COLUCCI road leading to their house when he hit the fence the barbed wire sliced him centimeters from his jugular. He still has a scar in skeet. You probably probably remember him from episode one. We always carry the superglue alcohol bottling truck case. He's always getting fighting. Bart is always get cut open so we just superglue. Yeah tell me about some of need A. I need a sympathy card for that. I looked out one day and skied in wide purpose. Had the hood of a no picker hooked behind the Horse and one was riding hood of the deal in wars ride the horse and they were making circles in the arena. I thought if something happened. They got in front of that. Hoodie cut their head plum off. didn't pay attention to safety. I don't think so. Despite multiple trips to the hospital the three of them managed to get by mm-hmm granny later met Karl wits. They were married before I was born. And he's always been a grandfather to me Papa. Carl worked at a gas compressor station Asian for Texaco but he also grew Alfalfa on the side. Once I asked him why bothered with Alfalfa. He thought for a minute and said I like to watch it grow as a kid. The bean farm was one of my favorite places in the world. I spent a lot of time out there. My two brothers. Listen I built forts out of the square bales of Hay. We shot each other with. BB guns rode horses and occasionally go and raised around on a go-cart growing up. We never want slept in a bed out there. We made pallets on the floor right there on the SHAG carpet. Full of arena dust and sticker burs and I still love going to see Grandpa at the bean farm. Though much has changed. The COLEGIO road has long since been paid. The sign at the end now says southeast four thousand one no more Wallace road. The biggest change is the amount of people who now live on all sides of Cranium Papa Granny says many new homes and RV parks have been built since the boom like. How do you feel personally about having more neighbors and all that that is a good thing or a bad thing or neutral thing? Well I like the idea that there's progress going on. You wouldn't want it to stay at stagnate. It's very good for our economy in this area. I'm old fashioned and I do still love the country but I'm in the middle of twenty acres. I still have a little bit of hollering room. And they're not choking me absolutely today like you know if they were right next door to me in town right right. I would be like a caged lion there. Thank granny is also grateful for the boom because it helps her business business to make a little money into keep busy. She boards horses at the bean farm. Lately the stalls have been full when the bus goes. Everybody gets rid of with their horses because they can't afford to feed them and care for them and then the minute the business comes back. This place fills up at. This is a healing place out here. 'cause that's what horses do is help. Keep People's calm down from the urban world they can come com rather horses and relax and that's what it does for me too but these days the urban world is encroaching and it's bringing more or than just people to her doorstep up until recently if you stood on Granny's back porch and look past the arena. There is an unbroken view of the horizon but nowadays more and more flares are cropping up. If you're not familiar with the term flares are sort of like giant torches that burn off excess natural gas ask when it's not profitable or there's not enough pipeline capacity to send it down to market. They burn off highly potent greenhouse gases as well as pollutants that can cause ause respiratory. Problems is at flare still out backer on away. There is well they did get it cut off a while but it come it's owning and you can send on the front or back porch and kept probably anywhere from three to ten flares going in the air. That's quite a few way more from back when Hannah. I'm sure that is not helping our air quality but you had to make some sacrifices somewhere. The skill of these sacrifices surfaces is growing larger. Now we have also seen a very dramatic drop in our rainfall here because we used to raise ALFALFA and our pastors in the south and we could not irrigate it enough to keep it well because you you have to have a little bit of rain to help you along. When we didn't have it so we had to plow it all under and on top of that your water supply from people irrigating north of US seminal Lubbock Littlefield? Brumfield all those farms in there are growing our water tape you you think maybe some of the oil field use to of all that water is probably I think I think they probably have a lot to do with some of the bad water sources in this area in fact about three or four miles down the road here. That water is totally undrinkable. Oh really and I think I think the oilfield ruin that. Yeah it's kind of like the flaring. Oh Yeah See. I don't what that's doing to our. I mean we surely don't have clean air. There's not much reliable data measuring how much flaring is going on across the permian basin companies self report emissions ends and the agency responsible for regulating. Them is mostly toothless. One report released last year did find that the amount of methane being vented or flared has doubled since two thousand seventeen and as groundwater contamination. It happens across the region last September. Groundwater near the Odessa city limits was found to have been contaminated by Oilfield Service and supply operations in that instance. The Responsible Party came forward worked with state and local agencies to remediate the contamination. There's just so many pros and cons to all industry that so important important but yet you sometimes wonder if that over rides the bad side of it. 'cause there's there's definitely a bad side I like our air and water and even even head some thinking about having earthquakes because because they've drilled so much and they are doing so much horizontal stuff down to the earthquakes granny mentions are common in areas. Where a lot of fracking takes place? Ace scientists who study seismology have published research linking earthquakes to both hydraulic fracturing and injection wells though the industry has pushed back on these claims. The steady up ticking quake since the fracking boom has raised more questions from the locals the uneasy tension between ranchers and the oil industry is nothing new in so many ways drilling destroys the land they hold dear and with fracking. That's more true than never but it also makes their way of life possible despite the flares and the influx of people granny. And Papa aren't planning on going anywhere weird but recently they've begun talking about the long term future of the beam form granny and pop are both approaching eighty and none of her grandkids. Kids are begging to take over the operations. Do you ever wish that me or my brothers. Her Dad and skeet were more out on the ranch and stuff. Well I would love that to happen but economically. It is not any good because you cannot. They're not hopping opping jobs anymore and you cannot get ahead in the laugh so you have to make the choice of trying and make a living and prepare for your senior. Years are just when you get your senior years. You're just not in good shape this. This scenario isn't unique to my family. It's becoming more and more common. Among ranching families across West Texas as the older generations die younger. Younger ones aren't as likely to take the ranch on raising cattle on these often parched pastures is risky and only marginally profitable if at all for many any of the younger generations it simply not worth it but there are some West Texas ranchers that managed to keep their land and traditions intact And they almost always have help from another far more lucrative industry every night in America local police as departments around the nation received hundreds of calls from burglar alarms most of the time they have no way of knowing whether or not alarms real all the alarm companies can tell them them is the motion sensor went off but simplisafe home security is different. There's a break in. SIMPLISAFE uses real video evidence to give police an eyewitness account of the a crime that means police dispatch up to three hundred fifty percent faster than for a normal burglar alarm. You get comprehensive protection for your whole home Outdoor cameras and doorbells alert you to anyone approaching plus simply safe protect your home from fires water damage and carbon monoxide poisoning. It's it's twenty four seven monitoring done by live security professionals and it's only fifty cents a day with no contracts visit simplisafe dot com slash boomtown. You'll get free shipping and a sixty day risk-free trial go to Simplisafe S. I m. p. l. i. safe dot com slash. Boomtown Dan. So they know our show since you and this is the fall roundup at the bullhead ranch a time when all the cattle are gathered the calves that were born in the spring or branded in the Bulls Sir Castrating de Horrid. It's tough noisy work but the cowboys know exactly what they're doing to riders on horseback rope a calf half the herd and drag it over to the team to cowboys. Hold the animal. Still One man notches the year with a sharp blade. Another administers a series of vaccines. One does the branding another clips the horns and if it's male. One Cowboy has the unpleasant task of slicing seeing off the testicles. The bloody testees dropped in a bag. They're often taken home in Eaton as delicacies known as mountain oysters. So who's cooking. You can notice that you've been taking a levels right. Yeah I going to cook. We'd on Yonten Tain Jalapeno though it may sound on like a scene from an old western. We're surrounded on all sides by the wool patch. The ranch is right in the heart of the old dollar Heidfield an area that's been producing using oil for seventy five years. The bullhead ranch is owned by Dan Fisher. His family has been working the same line of Hereford cattle for over a century the Hereford cattle. My granddad started back years ago. Are Still there today. That's all we raise Hereford cattle and as far as I know since the early nineteen hundreds. There's never been a female bald. It's we just bought bulls can raise the improve. That original heard read it today. Dressed the dental pearl snap shirt starched wrangler jeans and a black felt hat. Dan Is the platonic ideal of the West. Texas cattleman. He's sixty eight lean gene in athlete. It in fact seven years ago. Dan broke his own record as the oldest athlete to compete at the National Finals Rodeo. He'd made the trip with his two sons. Vin J Tom Fisher who are also competing for championship buckle and the steer roping event. It was the second time that all three three of them had made it to the finals. A feat no father son team had ever managed in Rodeo history. The fishers are the closest thing Andrews has to royalty though. I know it would embarrass Dan to say so. It's true the bullhead ranch where I attended. The roundup is one of several properties. The family owns in the area the sprawling ranch which makes up a good chunk of North Western Andrews County is their primary headquarters despite the pump. Jacks dotting the shared land. The ranch is beautiful with quail coyotes. record-setting mule deer. Dan's grandfather founded the bar F in nineteen. Oh eight Fisher. Ranch actually started with my grandfather Marvin McKinley Fisher senior. Came here from Arkansas. Came out here on a train and he was a traitor later. He would he mind sell land horses. Can he bought land here in Andrews County think the First Section he bought was about a mile. Al From Ri- actually right here. Dan and I are sitting with his wife Pam in the living room of their new house on the northern edge of Andrews. The Fisher spent two two and a half years building their dream home. A Beautiful ranch style mansion that Pam designed all the way down to the tile. There's an art studio upstairs and a full on movie theater in the basement with the ceiling of twinkling lights that look like the milkyway. Pam Headmaster woodworkers hand-carved pieces of furniture in Mexico Zico. She also planned the subdivision where the house sits on a road. She named Prairie Lane. The fishers can trace their success back to Marvin senior ear. Dan's grandfather in the twenties. He was one of the first to drill for oil in Andrews County and so your grandfather when he got out here he looks around. There's a few ranching communities and know oil wells yet they don't even know they're gonna find that was he taking a gamble. Sure the big gamble. Yeah especially buying minerals and things that he did that we still have in the family today which has been very profitable. was that kind of a game changer. What's at all? Oh yes definitely. Yeah it wasn't that much game changer. Them but it has been over the years you know because it's right now with cattle markets and the way land is low. It's hard to keep land together to raise catalog because lands worth worth more than what you could make sallies talent. You know So you see that too much big ranches anymore there and But yeah the business has been one of the main things that helped us keep the land together. The fishers have been lucky. Few families have been able to keep their ranches intact. Most ranchers are what Dan calls dirt rich and cash poor when ranch owner dies. The next generation doesn't always have have the money on hand to pay the inheritance tax and other expenses so they partition it all sell that land somebody else and it just just over a year. She things share get away and as you partition especially out here. You need a lot of land. Grace Catherine that's how. Oh the smarter your property gets. Es less heard you can have surgery to have the less money you're gonNA make so it's kind of more drought you. You have the fewer cattle you can raise and even when it rains after a four five year drought the cattle. That you've been able to keep they don't have as many babies because it affects them physically so it takes a while to build you heard backup and then you you know to try to get back in the black you know but that's been that's the main reason those reasons our wives. There's not many old ranches anymore. Still it from the beginning just because of those factors out there so we've been real fortunate to be able to keep it in the family. Nothing big actually came from the wells that Dan's grandfather drilled in the twenties but he set an example for his son. Marvin junior was only sixteen years old. When senior died in nineteen forty four and left Tim to take care of the ranch? It was a tall order for a kid fresh out of high school but Marvin junior followed in his father's footsteps. By trading horses selling cattle will and coaxing companies to drill wells on his ranch. Dan came along in June nineteen fifty one a few weeks after his birth. He was at the pay Cash Rodeo Radio where his dad competed in the roping. It was the beginning of a lifetime. Love affair with Rodeo. Dan went pro in one thousand nine hundred eighty and the next year. He made his first trip to the national finals. RODEO team roping. He eventually made it to a total of eighteen national finals. A feat which earned him entry into the Texas Texas Rodeo Hall of fame. The announcers called Dan the living legend. And here's the living legend. Yes you don't hear him. I do when I'm in the grants that's what they're saying. This is that's what they mean without saying. Dan's forty year career has come with its share of injuries. He's undergone eleven surgeries his latest. This was performed shortly before our visit Andrews when we talked his armless still in a sling. I had a shoulder surgery two weeks ago and a knee surgery. Same Day out toward the shoulder shoulder up at At a Rodeo in October two broken bones in their three torn tendons and I thought it all year long but there at the end of the year started doing better one Thirteen thousand shiny. And like I was telling you go there And then two days later tore my knee up in doubt Heart Texas at the T. Rodeo and actually placed on that run that I told him and So I I came home. That night went to the doctor. It was torn horned hand so I decided well I need surgery here. I definitely be surgery here. I'll just stop and get them both done. So that's what I did and ahead of both done the same day by Dr Daniel Cooper in Dallas. Who is actually another kind of cowboy doctor? He's The Dallas Cowboys I stopped. The guy goes out on the field cowboy gets hurt. That's that's my doctor. And he did of course not everyone on the Rodeo circuit can afford the same surgeon who works on the Dallas cowboys nor do most Rodeo contestants travel and fashion like Dan does these days his when he goes down the highway. It's a beautiful custom trailer with flat screen. TV's a revolving satellite dish and plush leather seats. While Dan and works hard to stay in shape and practices constantly. His Rodeo career is cushioned in part by all money much of that money actually came after his kids has gotten involved when oil was down in the early two. Thousands dance oldest son. Vin decided to quit law school and with Dan's backing. They went to buying oil wells else. Dan's younger son J. Tom went to school to become a land man and McKinley. Dan's daughter worked as their attorney. The families timing was good God when all shot up during the shell. Boom the fishers were in a good position to make some money. We bought so ally wells in the last twenty years making good trade. It's been real lucrative. That's that's been on the test things for for us. We're so glad then wanted to come home. The old man Jay. Tom Van are able to keep up with their old business. While traveling the Rodeo circuit even on the road travel and they've got their laptops. Yes and that's what they're doing is researching properties to bind so and this goes back to the there there Regional routes. They're great great great grandfathers trait. It's the same thing it strikes me that these are two of our biggest Texas myths. Right right our biggest icons or the cowboy in the old man and this is like a blending of the two in the modern Texas. That's that's that's pretty much wavy furious. This reminds Dan of his favorite movie giant. I don't know if y'all see men but of raw cousin lives potato. And there's I can Relate to everything in that movie because they raised Hereford cattle on the West Texas ranch and they got an business and then also had airplanes. And things you know and then they go with all that they want to go back to the ranch. They went back to the ranch and finished the movie. You know me and just West exit rancher again. So let's go. Although Dan is a money will man. He's stayed true to the path card for oh him by his father and his father before him. The fishers invest back into the community. The annual Marvin Junior memorial roping raises money for a scholarship scholarship. They give to college bound high school seniors and by no means does officiers. All money mean that. Dan Sweats any less than other ranchers at the round under the bullhead ranch. He was right there on horseback with all the other cowboys. Seems like you could just say okay. I'm done with the cattle and all that hard work but you're still out there. You're still doing it. Yeah you don't see many ranchers ever retire retirement and ranch and don't go together because ranches what you love and what you would do. You didn't have anything else to do. You do it anyway. So most west Texas Rangers never retired. They just that that's just the way and Retirement's not something you look forward to it all. It takes a little while back. I met another rancher fifty year old Michael Moore an annual barbecue held for the friends and clients of an Oilfield Electric Company in Andrews. These types of events are sometimes dangerously lubricated but this one was sponsored by a snow haired haired Baptist so the hardest drink on hand was sweet tea. Michael and I shook hands while waiting to load our plates with steaks grilled by crew down from Abilene. After bit of small talk I asked Michael. How many head of cattle he ran on his spread? He studied me from under the Brim of his black. Felt cowboy hat. He he told me quietly. We don't ask folks that out here. Nonetheless he politely offered to give me a tour of his corner of the Permian Basin his ranch and South Western Andrews County and the nearby sand dunes of northern Winkler County. Few days later I climbed into his three fifty and we bumped down Texas highway. One Twenty eight a two lane road connecting Andrews to Jal New Mexico. The bar ditch was littered with shredded tires and trash tikey psyche on them. You know. It's the holidays. It's the highways earn portion. They weren't built for this much traffic. They weren't built for these kinds of whites right. These vehicles that are coming down through here and the trash. Yeah I saw tons of they just sitting right there and it's everywhere where we left your pickup the every every gate entrance. I've got whether it's mine or wall field. Also there's thirty air bottles there you know about a teeth over okay. Right litter stretch you know Staff we have to deal with. You can hear Michael's frustration. His respect for the land runs deep earlier that morning. Three hours before sunrise. Michael in a ranch hand had driven to a nearby property to help round up another ranchers cattle. They're continuing doing the same time honored tradition of neighboring that my granny used to practice we we stay busy. We still neighbor quite a bit in this part of the country. mm-hmm neighbors call him. We'll go help them. They're tattling we call them. When we need? Help Melt just like we did this morning. We got four thirty Fed the horse's saddle but amended. Try Her quite before daylight. You know we've made up at a windmill or a set of pants somewhere in quick bite of breakfast getting a satellite tag off ago. We knew for them. Thank you for a week week. After a devastating prairie fire burned some eighty percent of Andrews County in two thousand eleven. Michael took it upon himself to protect his neighbors. If it ever happening the fire auto body decent half trump seven hundred gallon tank on the back tropical go anywhere at. Yeah and but the thing is when we're on fire we call the neighbors come when when they call Sir we thank. Starting in the fall of two thousand sixteen Michael and his neighbors were approached by companies asking them to sell or lease their land. Unlike the landman who'd come knocking before these people were interested in the oil beneath ground. They were after the sand sitting on top. If you were driving through this part of West Texas and didn't know about the sand dunes you might might think he'd just stumbled through a wormhole straight into a miniature version of the Sahara desert. Beautiful Rolling Dunes of corn meal colored sand appear seemingly out of nowhere in certain areas for years. These dunes were little more than a curiosity a place to ride. ATV's and for high schoolers blurs to drink beer. But when fracking came along they suddenly had commercial value. fracking requires a lot of fine grade. Silica sand to keep the fractures propped open so the hydrocarbons can flow into the well up until recently most of the sand used by drilling companies had been dug doug from central Texas or up in Wisconsin or Minnesota and shipped by rail by harvesting the San Right here in the Permian basin drilling companies. Genie's could save a fortune on transportation but those companies I had to talk the landowners into letting them do it. Michael and his family were hesitant. So yeah this would have been fairly just peaceful nothing going on now ours people now. It was pretty quiet them. MM-HMM I'm not trying to sound him. Critical okay okay Because we did sell making disclosure did sell some land to San okay. It's our hot there okay. Then I can't talk about journalism so I'm not trying to sound hypocritical when I talk about the people the damage to the roads in the trash right. It's just what it is. Yeah but we in the back of our minds. We all kind of knew what was coming with. I understand Tehran. Now that there's going to be As of right now there's sixteen minds that are already operating or you're the family's decision boiled down to pragmatism. They knew the sand companies were coming anyway with with or without a piece of their land so they leased since we spoke at least four more mining facilities have been constructed among the rolling dunes that stretch from from crane to kermit small town some thirty and forty five miles west of Odessa. The Wall Street Journal has dubbed the craves the new Texas Goldrush Goldrush as we drove Michael pointed to a huge sand mining facility. It looked like a series of massive grain silos planted in the middle of the Saharan. Yama pulling here. They don't know me down here One of my neighbors had this ranch leased for probably thirty forty years when this ranch so to a The same company. We came over here and help to move the catalog aloft. Yeah last summer home. This road used to just be to track barely wide enough for pick coming down here. Is it kind of bitter sweet for you to be moving cattle off of your neighbors ranch or is it just more of a kind of of the business calculation that you feel pretty comfortable about as far as that's a smart move well they didn't sell land at least okay and he's a big operator in this area so he's got land elsewhere he can. Yeah this was. This was not the only hard to cattle. He on catching. But right you know. There was ten sections laying slack that it was taken out of cultural production right. Yeah Okay and as far as it being bitter sweet you know a lot of these older some cal one formulate this into recording me you have to you have to understand some of this land them apart by the sand companies. Some of it came from old ranch families that have been here in this area. Eighty one hundred years or longer and in some of it. It was acquired from guys who've only the last fifteen twenty years a lot less time so most of the older families I I'm not sold and I can't speak for all of them. Okay chair but it. It's basically a matter of this sand has been here for a long on time and not all of it needs to disappear so not every acre out here in these sandhills else will ever be mind. I know several of those families. They they did not they did not find everything contract for sale. Br early sound just certain Swaziland. Yes their reasoning. You know. That's up to them. You look at it that is it's been here forever. And some other needs to be saved for several reasons. The wildlife laugh out there and see some San deals out there connection to him. And you know there's certain vegetative species that are in that science preserve them as well. Michael Michael is genuine when he talks about the importance of preserving the land and wildlife. He's always been attuned to the difficult balance. Between profit and preservation survey shen his grandfather law ranch in the Permian Basin for ninety nine years awash. Grandfather lived to be nearly ninety nine and he was in his right mind until few weeks forty past about eleven years ago and he lived in this area all his life. He and a law the other Alzheimer's at the time we lost the last ten years but they were always telling announce US younger ones would say one day that water will be worth worth more than that so take care of you won. Their prediction has come true. Selling Permian water has become far more profitable than raising cattle and many ranchers have gotten in on the act. Several have even saved their ranches from bankruptcy. You can't blame clean them but it's not exactly a long-term solution either. The land can't support cattle. If your water get sucked dry ranchers no this of course but bouncing prophet and preservation hasn't gotten easier for his part. Michael wants a future for his daughter Allison and his son Mason and that means giving up some of his is land to the mining operations sprouting across the beautiful West Texas Sand Dunes. Mason WanNa Kinda fall on your footsteps as far as ranging He. Does you know we. We're trying to plan for that for the future. Alex ever. I'm forty nine. My wife is a before as we headed back towards Andrews County. We passed what was once an oilfield camp in the old dollar fill. I asked Michael to pull over so I could walk around. I could see a few sand silos on the horizon. The rest was a flat sea of mosquito and Shinno still green from recent rains. A Hawk perched on a fence post. It was quiet save for the rhythmic groans of a pump. Jack at its peak. Some thirty families families had called this patch of dust home now the only signs that anyone had ever dwelled there were a clump of dead elm trees and a few broken concrete slabs labs rising from the pell dirt back at the bean farm granted sipping big red and rum from a big Gulp Sized Cup and nursing a broken collarbone. She fell down the stairs while sailing around the Caribbean Country Music Cruise. She said the ports were fine but she really liked seeing acts like Ronnie millsaps and Neal McCoy Nathan with a broken collarbone. She didn't miss a single show was on that ship with ever state in the Union which represented a no. You're from Texas. And they're really excited that they met somebody from Texas out. What do you want if someone says what's it like out there? What do you like? Do you have a response. I'd still miss like Kinda desert country and plus the oilfields. That's what we're noted for now used to be cattle cotton and O.`Neil it's just all taken overall pastures seem boy you see a few cattle but not so Kamini not very many because the range is kind of gone by the wayside and Lago said that's due to the younger generation in Russian. They cannot make living on it. And that's why then it's gone and because again for ices relations all kinds of stuff you know of cost. It's her that I'll say about but this is probably be till they bury me up there in the same litter applaud his. I tried to wrap things Well thanks for sharing. Thanks for sharing a lot of things but I have totally enjoyed you being from West Texas and I don't care where they're gonNA know for ticks and they're gonNA know that I loved nixes basis. Stand up for before I go. There's something else she wants to show me her ALMANAC she uses uses it to determine all kinds of things at the bean farm like wind to plant seeds and wind cut the cattle. which is what they were doing at the bullhead ranch now now if only she could find it almanacs you remember let me by the cash the known no? I don't care if it's a newer old. I won't often that you had. I just Argonne new and I can't find either one of their together where they are. They're together worry. Look under Eh. Is it on top of the Bible autograph on top of the Bible. I guess she's he's got one of them anymore. I surely do. Oh look in the next episode. Boom town the Permian Basin next bust may be coming sooner than expected. What really interested me about this was back in the industry actually doesn't make any money? Boomtown is a CO production of imperative entertainment. mm-hmm and Texas monthly executive producer. Is Jason Hoke produced and engineered by Brian Stanford who also wrote the score audio assistant at the ranch which was born. Michael Boomtown is edited by J K Nickel and Meghan cry reported by lead-free Stat. Our theme song is written and performed by fake Rossi. I'm your host and writer Christian Walls Texas monthly's pairing up also owns interest in the midstream oil and gas industry. Among other diversified investments are editorial judgments are made independently of any such investments. Don't forget to tell your friends about boomtown and leave a review on Apple. podcast if you like the show. Boomtown is a ten episode series with new episodes available. Every Tuesday follow us on social media and visit Texas monthly dot com slash. Boomtown town for more on. The story allowed me washroom. I'll I'd say this is the longest I've ever looked for ALMANAC before.
The latest on Dorian and the West Texas shooting: By thy scars we know thy grace
"<music> this is the daily article podcast published by the denison forum or culture changing christians to receive the daily article directly to your korea mail inbox week day morning visit the daily article dot com now. Here's today's news discerned differently as i write this morning. Hurricane doreen is now the second strongest hurricane ever recorded the massive category. Five storm is nearing the eastern coast of the united states after leaving catastrophic damage with winds of one hundred seventy five miles per hour as it makes its way across the bahamas. According to the national hurricane center the the storm will move dangerously close to the florida east coast tonight through wednesday evening but will it make landfall in the u._s. Computer models now predict the storm will skirt along florida's florida's coast tuesday then move alongside georgia late tuesday and into wednesday but no one can be sure of its path a low pressure system forming to its north could lead the storm in its direction a sagging jetstream and a weakening high pressure system to the northeast could steer the hurricane as well doreen could head out over the atlantic where the oceans ocean's cold waters would cause the storm to eventually dissipate it could turn to the west and strike our east coast with historic severity or it could do something in between lashing us with winds and rain but never making true landfall in the u._s. Hurricane faith followed a somewhat similar path in nineteen sixty six churning westward toward the u._s. In striking bermuda but then turning northward and eventually weakening north of scotland in two thousand twelve hurricane sandy forced closures from florida through the carolinas airliners and states of emergency all along the eastern coast before finally making landfall in new jersey as many as one hundred eighteen million people live on the east coast is to the united states any of them or a few of them could plausibly be affected by the storm the other major headline of the today's the shooting tragedy in west texas as of this morning seven are known to have died and another twenty two were injured. Police have identified the shooter though as is is our policy. I will not name him to avoid giving him greater notoriety as bad as it was. It could have been worse. Authorities say that if police had not interrupted the gunman gunman outside in odessa movie theater there might have been another event of mass violence. I was privileged to live and pastor midland texas from nineteen eighty eight to nineteen ninety-four four janet and i still have many close friends in the permian basin and are grieving with them as they deal with the shock of the strategy. When a hurricane threatens millions of people we could be frustrated that meteorologist cannot predict its path however they're doing the best they can with the best science we we have when a man kills seven innocent civilians we could be frustrated that police officers could not prevent the atrocity however they did the best they could. In horrific ethics situation risking their lives to save many others when such tragedies strike we could be frustrated that our mission omnipotent god does not prevent them and and choose to reject his help when we need it most or we could reframe the fact of suffering by including god in it. Peter wieners served in the administrations of president reagan george h w bush and george w bush and is currently senior fellow at the ethics and public policy center a conservative think tank in washington d._c. Last april he wrote a good friday column for the new york times in which he made this statement from the perspective of christianity hannity one can question why god allows suffering but one cannot say god doesn't understand it. He is not remote in different untouched or unscarred weiner quotes episcopal priest fleming rutledge who notes that before good friday no one in the history of human imagination had conceived of such a thing as the worship ship of crucified man even today the world's religions picture god if they picture a personal god at all as separate from our world and distant from our pain zeus atop mount olympus rather than a carpenter writhing on across in his suffering jesus entered our suffering hebrews four fifteen says it this way we do not have a high priest who is unable to sympathize with our weaknesses but one who in every respect has been tempted as we are yet without sin then here's the result we can embrace in verse sixteen. Let us then with confidence draw near to the throne of grace that we may receive mercy and find grace nice to help in time of need. We most need meteorologist when hurricanes threaten us. We most need police officers. When shooters offers are on the loose we most need god when our broken world breaks again weiner's perceptive meditation include some lines from jesus of the scars a poem by english minister edward alito written in response to the suffering of soldiers returning from world war one he testifies lord jesus by by thy scars. We know thy grace. Here's how shall lido ends his poem. The other gods were strong but thou west week they rode but thou outfits stumbled to a throne but to our wounds only god's wounds can speak and not a god has wounds but thou alone. Will you trusted with yours. Did you know that the daily article podcast is available on most major podcast platforms. It's also on alexa flash briefing perfect for your morning routine. Consider subscribing to the daily article podcast on your preferred podcasting platform informed and thank you for listening today.
Monitor Show 13:00 09-14-2020 13:00
"They're not intended to be investment advice and should not be used as the basis for any investment decision from the financial capital of the world twenty four hours a day at Bloomberg Dot. com the Bloomberg business APP and Bloomberg quick take. This is Bloomberg radio. Birth World Headquarters I'm Charlie Pellett Monday move higher for the US. Stock Market stocks are advancing amid a flurry of deal activity and signs of progress toward a corona virus vaccine as and P. Five, hundred index up fifty three. Now, that is a gain of one point six percent the Dow's up three hundred, ninety, three points up one point four percent Nasdaq is up two hundred, twelve points up by two percents ten years up one thirty-second ten year yield point six, six, percent gold is up eight tenths of one percent nineteen fifty-six. And West Texas intermediate crude down three tenths of one percents. Thirty, seven, twenty-three, four, a barrel of West Texas intermediate crude after being halted briefly article gained on reports the company beat Microsoft and negotiate for the US operations of tiktok oracle shares they're up now by four point, six percent Microsoft is up by one and a half percent. Also, we've got immune a medic shares doubling after Gilead, sciences agreed to. By, the cancer drugmaker for twenty one, billion dollars Kelly add up three point, four percent and shares of immune. Oh, of medics up now by one hundred percent. So an update for the US equity markets gold up eight tenths of one percent nineteen fifty-six, the ounce west? Texas intermediate crude doesn't mention down to ten thirty, seven, twenty, four, a barrel it is one. Oh, two on. Wall Street time now.
Gyrodata on Permian Perspective PP050
"The Permian Basin is an abundant oil and gas, producing area already one of the world's leading oil, producing regions, the area in West Texas and southeastern New Mexico could nearly double crude oil production by the year twenty, twenty three, but who are the leaders behind this economic powerhouse and what is their story? This is Permian perspective I'm your host Krista a skinny. Today's show is sponsored by Baker Hughes. Who recently launched a new and reimagined Baker Hughes Brand as an energy technology company, they strive to make energy safer, cleaner and more efficient for people in the planet over one welcome to this week's episode of Permian Perspective. It's so nice to be spending this time with all of you I hope that you were doing well and enjoying. Back out there in this world. That's right. We've all been going through this together and I hope that you and your family situation has been okay and that you're healthy during this pandemic I'm sitting here today in my office in Midland Texas and joining me via Zen caster. That is the way with us. podcasters do things these days is then caster in I'm in Midland or visiting with William Skelton? WHO's in Midland Texas as well? He is the business development director for gyro. Data West Texas William. Thank you so much for being here. It's a pleasure to be here Chris to how you doing. I'm doing good navigating this new environment. We're in yes, the tastic. Meeting face to face, but instead it's to computer, but that's okay. We'll do what we have to do. Right to help out and flatten this curve. Right show jar with days. That's right well before we get started. I do WANNA. Thank everyone who has shared our podcast with friends and family and colleagues. We have listeners all over the world, and of course right here in the basin where William I are, and I appreciate each and every one of you special thanks. Thanks to those who've been kind enough to leave the five star review, I really appreciate your kind words and I look forward to reading those and sharing them on future episodes so once again. We are joined by William Skelton the Business Development director for gyro Data West. Texas William Tell us how you got in this oil and gas business, or we're all in West Texas. I think we all ended up in it. In one way shape performer another for me. In twenty eleven, it was really about seeking a different opportunity. And it was an opportunity for me to do something that I had not done before so. You know put in an application and spoke with the district manager at the time. That's really history right? There just got on and started going new thing for me. I'd I'd been another career for ten years and really had just. Just, wanted a change so here. I am is your West Texas boy right. Yes man wellborn in Houston raised here. I've been here all my life fantastic, and so with that. Tell us what it is. You love about West. Texas, you know it's really hard to put into words. Honestly, if you're not from here, the sunsets all of the sunset love relatively mild winters. I love the fact that it's not super humid. If you've been out of West, Texas, you know what I'm talking about us. So there's you know. It's always just been owned to me. So I can imagine not liking it honestly right, so you said you were in another business for ten years decided to make that switch into oil and gas. That's kind of how I was to. Until about five years ago, I felt like everybody else was in oil and gas, except my husband and I and then made that switch. What was it that made? You make that change well out. The obvious answer to that question would be money, but it'd be honest with you i. just wanted something that was less stressful. If not can be said about the oilfield really relish learning new things and so becoming survey specialist at. Was a really good move for me. I got to learn a whole. Whole other skillset, so I embrace that and it was a great move for me. That's awesome. Say you made the switch to Gyro data? How did how was that for you going into completely new field and tell us a little bit about what your company does. Well it was to say I was nervous. would be really an understatement honestly is done other things in the oilfield like giving testing and hydro static pipeline testing, so I'd had my stint in the oil field, and when I got out to a different rear I'm not going back well. You know you say that, but I got back into it because it was really just the right move for me financially and personally and for my professional growth. I felt like it was a good move so. What we do is gyroscopic serving. That's kind of the main thing with a lot of things fall under that we also do gyro while drilling, we do orientation works such as whip star. And also realtime gyros staring. And we can also do NS, collision, modeling and monitoring. There's just a huge huge number of things that we can do with. So you've been working for the company, I believe that eleven years now. No, it'll be ten years this coming March so just over nine years awesome so over nine years. What changes have you seen in technology and just the way that you do things at data? What have you seen over the past ten years that have really been beneficial to the industry will as you will know, safeties become very not to say that it wasn't important in the beginning, so I wouldn't want to say that I would just say safety safety has come a long way from just even twenty eleven to now. Safety is huge as you not. Ben So that along with the development of you know how technologies progressed. You know we've developed a new solid state GYRO. Is Far and away GonNa? Be Really huge for us. It's already proven to reduce the ellipse of uncertainty on most surveys by fifty six percent, so it's it's huge. The development of technology and safety culture obviously has been the big are the biggest changes I've seen over the over my time. So how has your company shifted now during this pandemic wear? Obviously, you and I both know things have slowed down quite a bit in West Texas. How has it changed over the past three months? It's really been a ride to say the least you know. Obviously, we had some layoffs. Just like US companies have there's been people out there making some really hard decision It's caused us to really look inward, honestly I I know this is gonNA sound really unusual to say, but it's made us all better. It's put us all closer. We have a more interactive team than we had before. If that's possible because we were really interactive before, but now we're even more in his changed the way we contact the. Engineers out there that are like good. Gosh. I'm so tired of answering emails. Because it's the only way we can know this one of the ways we can contact people doing that and as well as contacting A. By phone, so you know, I'm not the only salesperson out here on. No, that's not. That's going through that tough patch. Because in all honesty, it's really difficult to get people to engage this planet. Right and I think that's the biggest thing were so used to. We are a very social community I would say. In the in regular times pre cove it, I should say and we're just not able to socialize like we were before you know I. Mean you and I both know I've been here twenty two years and and you know how West Texas. Are We golf together? We Barbecue together we. Now. Know, networking events, and since all that is halted, you're right. It has changed quite a bit, but I like what you said. He said. There've been some real positives to it. As well as you know, you have to be a little more intentional. I think with your connectedness. Yeah, you don't have the physical interaction where you can see someone smile, see how they enter. You know how they react to. What your talent! You really just these days. You'd really just honestly you don't know so. You've just got to put your best foot forward, but I think the positives that come out of this are gonNA. Be Great just from a business standpoint. I think it's really challenged everybody to be better position. Position. I could not agree more so I have to ask you. What's the word on the street? What is everybody or or the word on the email thread? Does everyone seem to be optimistic that you're talking to that? Things are GONNA. Turn around quickly looking at eighteen months. What are you hearing? Well I think it's really tough, were really in a area that none of us have being been in before was cove nineteen. In the way, it's actually way. It's put everybody in their house. The way it's put all of us on a different contact level to me I believe the economy will get back moving again this what we really need. We need that surplus that we have are moving. I think that will eventually start happening. I, think we're seeing a little bit of it now with oil being over thirty over thirty dollars, but it's got to stabilize before anybody feels comfortable enough to really start. You know, look into. Do things again and stuff. For everybody and there's people have made some really tough decisions in these in this day in time and I'm positive about it. I believe it's GonNa happen sooner than later just on the street from what I get you know it's. It could slowly slowly pick up as the months progress That's what I'm hoping for you. Too I'm right there. With Arlene I'm tired of this. And there's definitely a lot of activity when you drive around town more compared to say a month ago. When you are driving down, glued to fifty or business, twenty right would jr agree as? There's more movement others definitely more movement you know, but when you're out in about in the field, like say if you go through how you go through mentone or you know the really congested areas kermit normally congested with all the activity way experience previously, it's very noticeable. The traffic has dwindled out in the field. Is Really. It's really nice to see people moving around town again. Yes absolutely I. Know that quality of service is one of Giro data's greatest assets. You're committed to improving the competitive advantage. What is your competitive advantage over say some of your competition are competitive advantages, the accuracy of our equipment as well as the reliability of it, you know jared and has been in business since nineteen eighty. We did the first commercial Darus Skopje survey in nineteen, eighty three. We've been around a while. We kind of for lack of a better term. We started this in over the years. We've just continued to develop our tools in a more rugged fashion. We've taken a lot of the guesswork out of it by adding sensor packages that sort torok Whitman also diversity. We haven't been in the field before. We can run our equipment off. Line trucks as well as our own. We have several ways. We can actually benefit the customer. Probably over and above some of our competitors in fact, I know we can. We've got a very very high success rate on our equipment, so I believe all of the work that's been put in for all the years is just made us better year-by-year. How large the company is! It's a company of around a thousand employees where worldwide our main headquarters is in Houston for the Western Hemisphere in the eastern hemisphere. We have headquarters in Aberdeen Scotland. And we're worldwide we're in. Up Forty countries or your fifty, I can be wrong. I didn't write that down so. That's. Tim. We're out there. Let's just put it wherever there's a field for oil or gas, or even mining for that matter were there that is fantastic and with a long history you are like you said one of the first ones in this this oilfield technology, and just being being one of the first on the scene I'm sure you've seen a lot through the years and I think that that gives us that edge as well because you have the experience. Wow I had. No idea s thousand employees. That is outstanding. What do you think is that makes your company so strong in this arena that has made you grow to be. One of the largest is the people. The people in the fostering the development of people. When I got hired. You know. I was blown away by the fact that virtually everybody I've talked to or willing to help. If you have question, reach out to me. If you need something you know, let me know and really that goes a long way when people feel comfortable in their position. They perform better. And I felt like that was immediately something I can do it. Really. The people make any company so the people that I work with her hands down some of the best people I've ever met. That's awesome. What an incredible testament to your company for using that because I think that is. The best. Out when your own team members just love working there and know what you're doing a good job. There's nothing better than hearing that, so it has off to. Our company. It's very passionate group of people and I enjoy working with them. You know the old saying. If you're the smartest person in the room, you're in the wrong room. So a lawn lot of brain trust here. I love that. EVERY CHANCE I get! It's awesome. What one piece of advice would you give to someone that is maybe thinking of going into the oil and gas industry, or maybe had just gotten into it before covid obviously just us really got to just keep at. It perseverance the only way you're going to get through, you know learn all you can take classes and even free classes. There's education out there for everyone I would advise anybody that does it to just be diverse. Learn everything you can about odds and ends. Make yourself indispensable. That's one thing I've I've learned is to make yourself indispensable. It'd be willing to learn things and step out of your comfort zone in learn. Right get advice. What about our favorite Booker podcast? Do you have any that you're listening to right now? Reading that kind of helped you get through this time. Released reloaded inspirational stuff just quotes and things like that. I haven't really gotten into. The whole podcast seemed to be honest with you, so this is this is all new to me ally. One of my favorite books was Dylan. Jr. Book on racing to the finish out that. He's. A very very eye-opening. Look into figure that was. Wonderful, I'll have to look into that one. You said you've carts. You Love quotes I'm a quote. Person Myself. I mean I just read daily. Do you have a favorite one? If. You're the smartest one in the room. Here in the wrong room that's right that just goes back to learning right so if you're the smartest person in the room, you can't really glean anything from well. I say you probably can learn something from other people in the room, but the room of people that I work with on a daily basis are constantly learn so. I think competition has to go out the window there. Right so true! What is the most important lesson that you've learned in the oil and gas industry? Beyond Tom. On time. And, if you'RE GONNA, be there be there early. They'd rather. They would rather look at you. Then look for you. Oh, that's good. We're going on a year of doing the Permian. Perspective podcasts have to say that's one of my favorite answers that question. That is so true. It is so much better to be earlier than late and. Love what you said. It's better you them to look at you than the look for you love that Louis. You're in the old. You know exactly what I just. Yes! That's great. What are you looking forward to the most right now? William you know I'm really looking forward to the rebound. or at least the parcel rebound of our of the. Gas Industry as well as our economy. I think that this time has been. You know largely introspective I think it's actually made some of the people like myself. Better at communication because we've to change the way we do, so. I think coming out of this. I think you're going to see some Yunessi stronger peop-. Obviously getting back out, it's all going to happen slow, but I believe that you know as a company jarding in general. I think we're going to be stronger coming out the other side of this I think we're going to be more more of a team if that's possible. And I just really look forward to every buddy in the industry. Just being are just. How do you communicate even the new normal right that's. GonNa Change some things. Obviously, we know there will be change changes inevitable. So I, really believe it's how we deal with it and move forward from their attitude is everything. That's right. It sure is. We'll tell me. Is there anything that maybe we haven't talked about Gyro data that you really WanNa get out to our listeners that you think is important for them to know about your company. Okay, so if we have any production, people or completions, people one thing I'd like to talk about his our micro guide logs. That's probably the most in-depth look in fact I know it's the most in depth. Look, you can get at your well. It's down to one foot intervals, and it gives you the very best data driven information. Your well is by far. Far, and above the best thing to have when you WANNA. Put Rod guides in the right spot, or you want to send an ESPN area and get the very most usage out of it. You should use our micro God log technology antastic, and those guys that are listening and understand what those those acronyms were going. Yes, all right. I'm GONNA give you a call. So how did they? How can they get a hold of you? William can reach me W. my last name Skilton at Gyro data dot com. Fantastic course you're on social media often. GYRO data dot com is a great resource. I was just looking at it actually before our interview tells a lot about what your company does and very informative, so those are other ways to connect before we leave I've been. Everyone I've interviewed lately. Just tell me something good. That is happening that you're seeing and so I'd like for you to share with us some. Tell us something good. That's happening that you see. Kindness Kindness I mean. We can all get wrapped up in our daily lives. It's that's easy. To do myself or next door? Get wrapped up in what's going on, but what I'm seeing is deeper level of kindness. I really would like to see that. Continue you know. If anything this. This cove nineteen has taught us all that you know what really matters are the people obviously and just be kind. You know. A smile simple smile. Can Make Somebody's Day. We don't know what stress is other people are going through so just be caught. Yes, absolutely I love that in West Texans are pretty kind already. Bet I would say out of all the places. I've lived. You know West Texans are just so kind and generous before Kovic, but you are right the kindness that has just been coming out and people helping people in coming together. It just continues in true West Texas fashion, so thank you so much for saying that that's it. That's the conclusion of our interview. William unless there's anything else you'd like to add I just WanNa say thank you so much, and I want to let everyone know that. Of course they can reach out to you for more information on all the social media's and as we. Address that thank you I. Really Appreciate Your Time Today and learn more about your company. Appreciated? Thanks for having me. It was pleasure to talk to you. Thank you so much. William and before we leave, we do want to announce today's community MVP and the MVP is protected the basin Dot Com. You can help stop high level nuclear waste from coming to the Permian Basin. The Permian Basin coalition of land royalty owners and operators is fighting to prevent massive quantities of high level, radioactive nuclear waste from coming to the base in by rail to be stored at the surface, largely unprotected for a long time in perhaps forever so. So there is a petition going around. You can go online to protect the base dot com for more information, and that concludes this week's Permian perspective. The story behind the oil and gas leaders in the Permian Basin a very special. Thank you to Baker Hughes for Sponsoring Permian perspective as many Baker Hughes recently launched a new and reimagined Baker Hughes brand, and as an energy technology company, they strive to make energy safer, cleaner and more efficient for people and the planet. Remember my mottos dream big. Believe in yourself and never give up. You make it a great day. Hey everybody Alex here with the events on deck so Doodoo current circumstances. Of course we are not able to have any in person events so I've nothing of that nature to update you guys on, but we have been hosting some virtual events, so obgyn is wanting to offer free webinars live happy hours, et cetera during this time, since these events are not scheduled out as far in advance as in person events, we would like to keep you. You. Guys updated the facebook linked in and twitter, so be sure to keep checking up on that and we'll keep you guys posted on anything we're offering. It has been free. We want to offer you guys value during the time that we're all at home, so please continue checking in joining us for these virtual events. We are looking forward to seeing you guys whenever we're able to have in person events and hope you're staying safe and sound. Tune in next week for another episode of Permian Perspective, a production of the oil and gas global network learn more at www dot g g n dot, com.
Seven dead in West Texas shooting rampage.
"Coming up on veneers death toll hole in west. Texas shooting rampage rises to seven German President Asks Poland to forgive Nazi tyranny gene and Bahamas slammed by category five Hurricane Dorian it Sunday September one. I'm Anthony Davis the death toll in West Texas. The shooting rampage increased to seven today as authorities investigated why a man stopped by state troopers for failing to signal a left turn opened fire on them and fled shooting more than twenty people as he drove before being killed by officers outside a movie theater. Odessa police say that at least one person who was shot remained in a life-threatening condition authorities say the gunman was a white male in his thirties but police have not released name all possible motive the shooting shooting began Saturday afternoon setting off a chaotic rampage during which the suspect hijacked a mail carrier truck and fired at random as he drove in the area yeah of Edessa and Midland two cities in the heart of Texas oil country more than three hundred miles west of Dallas. Three police officers were shot before for the suspect was killed authorities say the trooper was in a serious but stable condition on Saturday and the other officers were stable. Saturday's shooting brings the number of mass killings in the US so far this year to twenty-five matching the number in all of two thousand eighteen the number of people killed this year has already Eddie reached one hundred and forty two surpassing the one hundred forty people who were killed all of last year today. Donald trump reiterated he's more recent calls for greater attention to mental health trump said new facilities and needed for the mentally ill to reduce mass shootings however mental until health professionals say such thinking is outdated linking mental health illness to violence is wrong and that the impact of more treatment would be helpful overall. We'll have a minor impact on gun violence German President frank-walter Steinmeier has asked Poland's forgiveness for Nazi tyranny eighteen years on from the start of World War. Two Mr Mr Steinmeier and other world leaders are in Poland to commemorate the outbreak of the conflict speaking in the capital Warsaw. Mr Steinmeier apologized for the a horrific war unleashed by Germany. This wall was a German crime he said in a speech his Polish counterpart and US Vice President Mike Pence also so delivered speeches in front of crowds and heads of state on Pilsudski Square Poland suffered some of the worst losses of World War. Two about six million. One of its citizens were killed up to half of them. Jews the conflict began in the early hours of the first of September nineteen thirty nine when a Nazi battleship attacked back to garrison of Polish soldiers West plant Poland's government had moved this year's commemorations from Westerplatte near the Baltic port city of Gdansk to Warsaw aw in anticipation of a visit from the US president who was to give the keynote speech but trump cancelled citing hurricane dorian and sent Vice President Mike Pence instead shortly after trump cancelled Angela Merkel made lost minutes announcement that she would attend yesterday day it emerged that trump who had given the impression he would spend the day at Camp David with experts to monitor Dorans progress had in fact flown by helicopter from Camp David to Virginia Gulf Club. A Hurricane Doria is slamming into the northwestern Bahamas as a catastrophic category five storm with sustained winds of up to one hundred and eighty miles per hour the extremely dangerous storm is the strongest hurricane on modern record in the area according to the US National Hurricane Center Grand Bahama residents have been evacuating from it's predicted path Dorian moving westwood seven miles an hour is expected to continue to move over great Abaco Island and Nia or over Grand Bahama later on on Sunday into Monday. Authorities closed some airports in the outlying islands but the main international airports remains open today after hitting the Bahamas it should move closer to the Florida East Coast late on Monday through Tuesday nights local time the NHCD Doreen was the strongest hurricane to hit the Bahamas in modern times times in the island's government officials urge residents to take immediate steps to protect life and property the US administration recently order to transfer funds from the Federal Emergency Management Agency Fema to immigrations and Customs Enforcement Known as ice most of the a female money would be reprogrammed to the border one hundred and fifty five million dollars would come from the Disaster Relief Fund based budget which he spent on recovering from natural disasters. Ole told the department said it would transfer a total of two hundred and seventy one million dollars toward immigration efforts. You can subscribe to the news with your favorite podcast APP or ask. Your Smart Speaker to Klay The news with Anthony Davis podcast leave us a review on. I tunes and follow us on twitter. At the news underscore podcast for daily updates. The news is an independent production covering politics inequality health and climate delivering honest verified and truthful World News daily.
Oil: Less Than Zero
"N. P. R. Is this good evening. How are You David? Dacko bound is a managing director of energy research at Cowan in Investment Bank. And when I called him he'd been awake for sixteen hours. The reason is our indicator for today. Negative thirty seven dollars a barrel yesterday. The price of a barrel of West Texas intermediate crude oil was negative. Thirty seven dollars a barrel but this is the crazy thing about that or one of the crazy things about that. Oil has value real value. We use it every day. It makes cars and airplanes. Go it he's homes. It could turn into plastic water bottles and fleece jackets and car seats and shower curtains. The idea that oil would be worth. Nothing is crazy and the idea that it's worth less than nothing. I don't even know what does that even mean. I was so confused and shocked by this that I was. I couldn't formulate a question. So what what why is I mean? What do what I my mind is kind of blown. I mean how is how is a commodity like a thing that you can touch worth negative money to pay someone to take it? Will you remember a few years ago after the housing crisis in Detroit? You know we. You started seeing homes being sold for penny. Yeah and that's the same sort of dynamic of just you have a product that nobody wants right now. This is the indicator from planet money. I'm Stacey Manic Smith and I'm today on the show negative thirty seven dollars a barrel. How is that possible? What on Earth is going on. What under the Earth is going on? I Guess Oh nice. Is this like the worst day that you've ever seen? I mean we've never seen negative prices support for NPR. And the following message come from capital one with the capital one quicksilver card with quicksilver you earn unlimited one point five percent cashback on every purchase everywhere. What's in your Wallet Support For this? Podcast comes from the John S. and James L. Knight Foundation helping NPR advanced journalistic excellence in the digital age. David Dacko Bom has been analyzing oil industry for more than a decade. He says in recent years. The price of oil has fluctuated between about forty and sixty dollars a barrel and he says those prices are already considered pretty low. He and his colleagues Kinda used to joke about it every day. There's lot of sarcasm about how low can crew go and we sort of have some internal jokes about you know good morning crew two zero but yesterday the joke got real WTI crude that's west Texas intermediate crude oil did go to zero and went way below zero WTI crude by the way it's a kind of oil there are a whole bunch of different kinds of oil all over the world there's Brent crude and other kinds WTI though is one of the kinds that people really watch especially in the US and just a few months ago WTI crude was trading at around sixty dollars a barrel but yesterday things started out bad went down to twelve dollars a barrel and even at that point David says everybody was already starting to freak out and then the price started dropping from there it dropped to single digits five dollars a barrel three dollars a barrel two dollars a barrel just talking the clients over you know. Shat people that were really scratching their head of weight. Ken Crude even go to zero. The answer was yes and it could go even lower than that by yesterday afternoon. The price at hit negative thirty seven dollars a barrel soon to be clear not all oil prices went negative just that West Texas Intermediate Oil. And that's also not the price for all time that's just the price for WTI for the month of May and both the where the when are key to the why this happened so I the win. Negative thirty seven dollars was the price for next month for May so right now. A lot of places are an economic lockdown. Businesses are closed. Most travel is not happening and a lot of places will be locked down in demand through. May that means we're basically not buying oil right now and demand for oil and may is expected to be really low about the same as it is. Now you're not getting in your car if you're not driving the work if you're not going out to restaurants L. You're not getting on airplanes. You know people are not not consuming. Kurd there's almost no demand for oil right. Now it seems oil producers just cannot sell what they have punt they need to store it until demand comes back and somebody actually wants to buy it so they might call up. Somebody like this guy Stephen Bar same in I'm the vice president of operations at the tank. We like to call ourselves. Matchmaker for Terminal Storage matchmakers for terminal storage. Like that is there. Is there a tinder for oil storage? I don't know I think there. I think this is the guy. A tank tiger actually matches oil producers with people who can store their oil. Typically you know places like tank farms okay so the insurance the Sopranos where he's driving down the Jersey turnpike you see the little citgo sign on the tank. That's that's what it that's kind of what they look like they. So there's just rows of tanks. There are clusters of tank farms in different parts of the country. But because nobody's using oil right now the oil producers just cannot sell it so they're all trying to store. The oil tank farms are full. Heard storage right now anywhere It's it's very tough to find A. We're not showing anything on our website right now until a believe January of twenty twenty one. So that's the earliest defined storage for us. I mean we'd be happy to turn over rocks in Stephen says a lot of people have been calling him asking him to do just that turnover rocks. It's crazy I mean everybody in their barber saying oh I can source oil. They already are stirring oil on the water and buying the water. I mean like people actually coming up with the IDEAS. I have this barged. Maybe somebody will take in just put oil in it and let it float People started railcars. Typically it costs roughly twenty five cents a month to store a barrel of oil now. Some storage facilities are getting more than four dollars. A barrel and when the price of oil is low as it has been you can get into a situation where costs more to store the oil. The oil is actually worth around the Texas Oklahoma area. Oil Storage is especially tight and especially expensive. That's part of why West Texas intermediate oil price dropped so fast. There's nowhere to put all that oil and moving oil to another area is really expensive too. So you are an oil producer. You have this oil that you pay to pump out of the ground and nobody wants it. But you can't just dump it you have to sell it or store it and if you don't WanNa pay to store it well maybe pay someone else to take it off your hands. Make storing the oil their problem. David Dacko bomb says that is what's happening here. It's like if you went up to a buffet and it was all you can eat and you a you know. A bunch of general sells chicken. And then you went back up and you know someone said like we need you to take another plate and you're like I just can't take anymore. They're like I'll give you one hundred dollars to eat another plate whereas like you're the one that's supposed to be paying for the buffet. You know I I think maybe there's one person that says okay. I'll do the hundred dollar challenge. I'll take another plate. David says this will change. When the economy starts to open back up people will start driving again and businesses will start ordering things again in airplanes will start filling up again it just like with the chicken you might be stuffed right now at the moment but you will get hungry again. Eventually you'll be willing to pay for that chicken again. But even when the economy does start to normalize David doesn't think the appetite for oil is going to get back to where it was. The global economy says probably not going to grow for a while and that means demand for oil will likely be low also alternative energy use is on the rise and David the oil industry will probably never be the tighten. It was we have approximately sixty public companies. They're out they're producing oil and gas and this will be you know perhaps one of the events that leads to there only being ten of them over time. this is this is part of that. Death Spiral So this is this is just. The Industry. Got Old really really fast. In the meantime oil companies are trying to figure out if they can afford to keep pumping oil or if they need to shut off their wells and David things that's part of why we will continue to see negative oil prices and he will have more sixteen hour days with you know a few breaks to play with his kids because like a lot of us us. Working from home of the indicator was produced by Dr Raphael and fact check by Britney Cronin indicators editor is Paddy Hirsch an indicator is a production of NPR.
Monitor Show 13:00 07-09-2020 13:00
"Or Dot Com on the Bloomberg business APP and Bloomberg. Quick take. This is Bloomberg radio. World headquarters I'm Charlie Pellett. It is down Thursday the Dow the S&P, Nasdaq, or all slipping right now we've got the S. and P. Five Hundred Index Down Twenty six points a drop, their of eight tenths of one percent Dow industrial's down three hundred forty eight points lower by one point, three percent. Nasdaq literally just turning around swinging from a loss to gain that gain, though barely it. It is up now by just about one half of one point so a mixed day for the US stock market with both the Dow. Jones, industrial average and the S. and P., five hundred index both trading lower, and this update is brought to you today by S. e., I. Sei imagine your asset management firms operational infrastructure as a competitive advantage. Let s see I. Show you how it. It s the I C dot. com slash I. AM S Tenure Up Eleven? Thirty seconds yield on the ten point six two percent gold, pulling back today, retreating by nine fifty, the ounce holding very close to eighteen hundred dollars, seventeen, ninety, nine, the ounce down five tenths of one percent crude back below forty dollars, a barrel West Texas intermediate crude down two point, seven percent thirty nine dollars. Dollars and eighty eight cents a barrel four. West Texas intermediate crude for keeping an eye on bank stocks. Financial companies are among the worst performers on the S. and P., five hundred index, pushing the gauge to a one week lows wells. Fargo prepares to cut thousands of jobs wells, Fargo shares down two and a half percent among some of the other bank names today Citigroup down by three.
Monitor Show 15:00 09-10-2020 15:00
"Twenty four hours a day at Bloomberg dot com on the Bloomberg business APP and Bloomberg take. This is Bloomberg radio. From Bloomberg World Headquarters I'm Charlie Pellett we moved into the final hour of trading on this Thursday September tenth with the Dow the S&P Nasdaq all declining off session lows but a fresh selloff in mega cap tech shares sent stocks to the fourth loss in five days. Investors remain worried the valuations stretched too far in a five-month rally the SNP Laura now by thirty eight points down one point one percent the Dow is down two hundred, sixty, nine points down one percent Nasdaq Laura by a hundred and fifty five down one point four percent keep in mind that at the best level of the day Nasdaq. had been up one hundred, Fifty, seven points up one point, four percent but again, losses right now but the Nasdaq one hundred index down one point six, percent ten year yield point six, eight, percent gold up two tenths of one percent nineteen, fifty, the arms and West Texas intermediate crude lower by two and a half percent thirty, seven, zero, nine of barrel for West Texas Intermediate crude the European Central Bank has kept its emergency monetary stimulus unchanged. The region enters a critical phase in its recovery from the corona virus crisis. Here's ECB president Christine Lagarde increases in coronavirus infection rates during the summer months constitute headwinds. To the short-term outlook. Looking, ahead, further sustained recovery remains highly dependent on the evolution of the pandemic and the success of containment measures Citigroup was.
Krista Escamilla on Permian Perspective- PP029
"Three two one. Hello and welcome everyone to a special edition of Permian perspective especially thank you to Baker Hughes Hughes our show sponsor and of course to all of you for taking time to listen and she'll your time and it's valuable and we appreciate each and every one of you. I hope we had a fan tastic thanksgiving I know ours was just wonderful spending time with my family and friends and it was just a wonderful beautiful occasion and I hope yours was to. I'm forever thankful for my family. What are you thankful for this year? I know I'm so grateful for my husband. Al My kids my family family my friends We're very blessed in. It's been a fantastic year. Of course I'm also grateful to our team members at Rightey work where customers and to all of view for listening to Permian perspective. I look forward to learning and growing from you more in two thousand twenty. It truly is the most wonderful time of the year. Just love the holidays. I know I've been listening to Christmas carols for probably about a month now but is now officially December and I can really kick it into high gear So I hope you'll all are enjoying this time of year. I know many of you have such giving hearts and there are a lot of people that could use our help this time of year. So if you are looking for for some wonderful organizations to give to I encourage you to reach out to the salvation army safe place of Midland helping hands West Texas Food Bank just to name a few. There's so many other wonderful organizations that do beautiful work helping others and so if you are finding this time of year that you would liked to give a give a little bit more. I knew you're also giving throughout the year but they really could use some Specials special gifts this time of year another one I want to mention three eleven ministries. I know we've mentioned them before but they are looking to help over two thousand families. I believe this Christmas and they could really use your help. OPA volunteer wise or donation so another great organization Another thing I want to mention is that this time of year isn't always a happy time time for for everyone and so if you're finding that you are feeling a little down in need someone to talk to remember you are not alone. There are wonderful organizations like centers centers for families and children. It's an excellent resource. They can help you. The most important thing is to remember that They're there for you and they're available. So give McCall today. There's a lot going on in the Permian right now. I know everyone is busy. As a bee were in that last month of the year and everyone is cramming to get work done and holidays and really. It's that time of year where the business kicks in. But it's also a beautiful time of the year where there's some wonderful events going on and so I wanted to take the time today to mention a few of those the first one that's happening is the Wagner. Well Performing Arts Center has a free showing of the thirtieth anniversary of National Lampoon's Christmas vacation. How Fun is that now? The cinema under the Star series will occur once a month inside the theater of the beautiful beautiful wagner. Noel it is Underneath The star field twinkling lights of their ceiling and so it is a wonderful event. Event that you will definitely want to take advantage of the cinema under the star series. We'll have food hot dogs and NACHOS along with beverages and snacks for sale while while supplies last but we just want to mention it is a free event. The doors open at six trivia will take place at six thirty. GotTa Love Trivia that. It's that's going to be fun. And then seven seven o'clock the movie will start. The tickets are free at the box office. Another wonderful event that is happening is the mckinney Park Star. Bright village if you have not been your new to West Texas. I highly encourage you to do so. It is once again free star bright villages open nightly from six to eleven seven pm from December fifth through January. I of course. Donations are always welcome to help. Keep the event free and for new displays that they may want to add. And don't don't forget to visit Santa Santa's there in Santa Land. Every Friday and Saturday night December sixth and Seventh Thirteenth Fourteenth and the twentieth and twenty first from seven to nine PM. It's always a wonderful time a special. Thank you to the city of Odessa. For putting this on and of course they have some wonderful sponsors like first first base and Credit Union and they have over three hundred thousand lights and holiday themed displays. It truly is beautiful to see for the family so we hope that you can take advantage of that star bright village. Also if you love musicals there is a wonderful production going on starting this Friday Friday December. Sixth and it will run all weekend long for the next three weekends actually at Midland Community Theatre and it is called sues. ICAL the musical you you can go to. MCAT MIDLAN DOT ORG for tickets but once again a wonderful family friendly event we love our families here in West Texas. And we're a looking for some fun things for you all to do. And here's another one Susan musical for my running friends whereas my renfrew raise your hand out there. Fear runner yes me too. Jingle Bell ran so much fun you definitely want to take advantage of this opportunity to get out for nighttime run. Those are so fun I cannot I tell you I started probably about three or four years ago where I don't really only done the morning runs and those were awesome and incredible and then this nighttime jingle bell run in came about and I thought I'd never really ran at night. Let's give it a shot so much fun. So this is through grassland estates west. It is not only fun healthy in just a beautiful experience but you're also going to be supporting it wonderful 'cause of helping kids with be one hundred percent ready in in their financial future so they have partnered once again with Midland Athletic Company. You can register at Midland Athletic Company Dot Com but it will take place See on Saturday December seventh there it is and they will have a packet pickup on the six. So you wanted to sign up ahead of time but of course if you WanNa read ensure that day they will take registration onsite at five PM and then I believe the run starts at six. PM So a lot of fun hope to see my running friends out. There always always a good time and of course all helping a good. 'cause here's another wonderful production here in West Texas. Charlie Brown Christmas live on stage will take replace December twelfth now live onstage puts on such fantastic productions that are now held at the Wagner. Noel but this is a chance to join. Of Course Charlie Brown snoopy Lucy lightest the whole peanuts. Gang is they produce a wonderful production of live on stage and you can get your tickets. There at Wagner Noel. I believe so. Go check that out that is live on stage production December twelfth of a Charlie Brown Christmas so much fun okay. Where's my flyers out there? Those love being up in the sky. This is fun. If you're new to the Permian Basin and have it done this. I highly encourage you to do so. It is called the Christmas Christmas night flights and it will take place December thirteen th through December twenty third. So if you're looking for a unique Christmas gift maybe for All Ages There's something refunded with the whole family. This is a way for you to experience a ride on a World War Two aircraft and view the city lights like never before the rides ads are every thirty minutes and get to view the city lights from up above. You can reserve your seat today. Let's see five seats include the co-pilot at three hundred ninety five dollars. copilot's seat is one hundred and forty five dollars. Each cabin seat is seventy five dollars. You can go to high sky wing Dot Org for more information but once again what a fun treat for the family and something different to do and experience the lights from up above instead of driving around in the car which is also fantastic but just a different view. We also want invite all of you to the city of Midland Christmas parade that will take place December fourteenth now the city of Midland Parks and REC division vision is now accepting the entries for the twenty nine thousand nine Aloha Christmas parade. So you definitely want to take advantage of that. The parade will be held at six thirty. PM This year's theme for the parade once again is Aloha Christmas. You can get your registration forms at the. MLK Junior community center the park's office or or go online to www dot midland Texas dot gove and enjoy being part of the midland. Christmas parade have been several times always a fun event event and just another way to really just get involved and get in the Christmas spirit another fantastic event that you won't want to miss and this one one is truly going to be amazing. Matt knew who many of you. I know we're cheering him on his from West Texas and you're cheering him on the voice. The season even as he made his way to the televised rounds and digest a beautiful job in such a beautiful family as well. He is now taking his love for music and his new. You found fame to help students at Midland County. ISD which is just fantastic now. All the proceeds from this event he's going to actually actually host a concert and so the proceeds will go help 'em ISD and Extra County is dis education foundations. And we hope all of you can join us for that that that will be December fifteen th at the Wagner well Performing Arts Center at Seven PM. Let's see what else is going on. We have so much going on. It's such a wonderful wonderful busy time of year. Yuletide on PBS. We don't want to forget about that. I know I've mentioned in previous podcast but I just want to invite all all of ut there joining us live in studio at the Anwar Studios at basin PBS or you can watch on TV from your home from the comfort of your own home with your PJ's and your popcorn and candy and this will be a two hour holiday special featuring singers from around the basin. I'm so excited to host this wonderful event. Look look forward to spending that time with the listening to the beautiful sounds of Matt. New and latent fields and other local west Texas talent that will begin at seven seven PM. Live on basin PBS. We hope you will join us. We also want to mention the nutcracker we have some fantastic little dancers here in in West Texas and the Nutcracker Midland Festival ballet will take place on December twenty first at seven thirty PM. You can join the Midland Festival. Ballet's they they celebrate their twenty. Six annual production of the nutcracker has a cast over a hundred local performers and then of course they have these additional guests artists that come from all around the country it is always a treat. It is beautiful once again. Another way to really celebrate the holidays in a special way you can go to wagner no well dot com mm for those tickets I know many of you are listening to us from all around the world but also here in the basin and a lot of you are looking for some local oil and gas events going on. And here's one that I found that I thought was really interesting and that you may WanNa take place in or take a part of a Tuesday December. Ten Th at eleven thirty Desa College there is going to be a event called boom a conversation about how the oil and gas sector impacts Texas by the Texas Tribune. It looks like here so just wanted to let you know that the conversation will be moderated did by Ross Ramsey of the Texas Tribune. But they're also have panelist Tracy Bentley the president and CEO of the Permian strategic partnership will be their state. State Representative Brooks Landgraf from Odessa. And Ben Shepard the president of the Permian Basin Petroleum Association will be there they will be talking all things oil and gas and so it's going to be a fantastic conversation of course state that produces more crude and more natural gas than any other This is such a wonderful conversation to have right here in West Texas and so we hope you can join us once again. That is at Odessa. College at the Salisbury Burry Campus Center on Tuesday December tenth. So ooh La going on here in West Texas. I am so thankful that all of you who Taken this time to learn a little bit more about some of the fantastic events. We will be back with an amazing guest next week next Monday so we hope you'll join us for that. In in the meantime I just wanted to tell you all how appreciative I am of you sharing our podcast. Whether you're sharing it with friends or colleagues family members Just just getting it out there. Because has we're we're learning together. We're growing together having great conversations about the Permian and what's happening here from the people that are on the floor running every day in this oil and gas business and in this this wonderful This wonderful economy that we have here we just want to encourage people to Just keep Bon. Keep an on dream big believe in yourself and never give up. Those are my three mottos and we will all get through the ups and downs of the oil and gas business together. That's what is so beautiful about West Texas. Being a a West Texan now for twenty one years I can say it is truly one of the best places to live in the the world and I'm so grateful that I met my husband here and raised my four Kiddos here because it really is a wonderful place where you can live the American dream so we thank you again for this time and of course our show sponsor Baker Hughes we WanNa thank them with the oil and gas global network of course They are just so instrumental in getting our podcast out and we just cannot think both Baker Hughes and Obgyn enough. That's it for now. This concludes our special edition. Russian of Permian perspective the story behind the oil and gas leaders in the Permian Basin. We hope that you have a fantastic week and month as you close out. Twenty nineteen and many blessings and prosperity to you in twenty twenty. Thanks again for joining us. You may get a great day.
Boomtown Follow-up: The One-Two Punch | Chapter 12
"O-man what a day breaking news on the financial markets right now stocks around the globe have tanked due to concerns over the corona virus. The Dow falling record two thousand points a conflict among oil-producing nations suspect crashing oil prices collapsed thirty one and a half percent at the start of trading this plunges remarkable folks zone reports that Saudi Arabia slashing prices and increasing supply this after talks with Russia collapse. The world's top oil producer agreeing to cut nearly ten million barrels a day a tenth of the global supply. The situation in West Texas tonight is dire. The price of oil continues to fall. An industry experts warn that it could be months before we see any kind of relief on March eighth one week after the first confirmed. Us death from the corona virus and three days before the World Health Organization declared the outbreak of pandemic Saudi Arabia and Russia went to war over the price of oil. The Russians vowed to pump more of their all into the market and the Saudis retaliated by slashing their prices the global market was already awash with cheap crude in large part because China the world's largest importer of oil had come to a standstill other countries around the world. Were beginning to issue. Travel bans and stay at home orders. Meaning the demand for fuel was rapidly decreasing when the stock markets opened on Monday march. Nine the price of crude plummeted thirty percent it was the largest single-day drop since the Gulf War in Nineteen ninety-one overnight the mighty shell boom in the Permian Basin of West Texas and southeastern New Mexico evaporated into thin air prices had hovered around fifty dollars a barrel now. They lingered around twenty bucks looked like things couldn't get any worse but then something unprecedented happened on Monday April twentieth the price per barrel of West Texas intermediate crude went live for the first time in history. I'm crucial walls. And this is a special bonus. Episode of our first eleven episodes documented the boom that made the US the world's largest producer of crude oil. Today we take a look at how biggest boom the permian basin has ever experienced suddenly turned into a historic bust. This is the one two punch crazy couple of weeks. My kids have been safe. Hey I'll tell them all at the lowest you've ever seen it now back in eighty five. I remember from a Exxon on a property. I had wing for ten dollars and sixty cents and now I'm going to remember this forever. It was negative thirty four dollars unable twentieth when the price of all went negative for the first time in history. I called Midland Oilman. David Errington as you might recall from episode three David I came to west Texas during the eighties amid a terrible bust. He since made his fortune and four decades later he's weathered plenty of ups and downs in the patch but negative will was something that was hard for even David to imagine can. Can you just kind of walk me through your day today? Like what were you doing as this was happening? Yeah Crazy Day so you know we started out in the price. All was filling the alley hours. Get ready to leave the house by thing. I started getting texts. You know a Brussels get low and all that and I was on a in a bunch of calls today at one long call. I think I wrote it down the process oil. Whip from Hand ten dollars and fifty cents to a dollar nineteen this morning just while I was having a phone call but it just fifty thousand foot view is that you know we've just had demane instruction and we're Mike do much all. That's you know that that story whenever. The price of oil makes national headlines. You'll often see articles run photographs of an electronic sign in downtown midland. The sign is right outside. The Chase building were David's offices at he owns the sign. Actually he owns the whole block. Despite the misery being felt by all men on April Twentieth David turned to humor with his sign. So I'm GonNa put you on speaker but but I just changed the board. Let me take some pictures while we're talking Oh God this Larry Psoriasis. Negative oil with the question mark in another Houston. We have a problem. And then the other one says uh-huh Spaghetti O's and then World Trade Oil for toilet paper. At least you have a sense of humor about this. Well you know you. You don't really have a choice due to understand how all of this came about. I turned to Bethany McLean. Hi Bethany great to see you again here from you where you calling from today. I am Michigan Michigan. Okay at home with your your kids and your Doberman. I am at home with my kids. And My doper MINNEAP. I spoke with Bethany for episode nine of boomtown while reporting her two thousand eighteen book. Saudi America Bethany found that despite the record amount of being pumped out of the Permian Basin and elsewhere many of the largest publicly traded fracking companies. Weren't actually making money. The show boom she said was built on historically low interest rates and an influx of private equity after the great recession but the business model of fracking was flawed a year or so after well as fact the amount of oil it produces begins to drop off much more quickly than a conventional will to maintain their production levels fractures to constantly drill more wells. It's a treadmill of cash. Going into the ground with very little coming back to the Investors Bethany posited that this was a looming financial crisis a disaster not just for the shell companies but for large swaths of the economy that have dependent on the shell boom now her dire predictions about fracking's debt. Bubble are coming true. Well let's talk about what's happened over the last few weeks really. I guess over the last month in oil and gas. Are you tempted to say at this point? I told you so I mean. Of course there's a little part of I told you so at work because I do feel like the the the shaky fundamentals of the fracking industry are part of what his lead to. Where where we are today but when you look at why the collapse came as quickly as it's come. And then the human cost in terms of people losing their jobs at probably the worst possible time in history It's really hard to seal to feel any delight in that. And I think about this in a slightly broader perspective and that the rise of fracking is one of the reasons that we came out of the global financial crisis not painlessly. Oh my God. But perhaps less painfully thin. It would've been otherwise because fracking helped provide employment in a lot of places and the fact that that avenue of of employment is getting devastated. Right now is just one of many things that this is going to be much worse than that was. I mean we're talking. Like ten million oiling gas jobs in this country and as we were talking about just a minute ago something like fifty thousand jobs shed already. And that's probably an under estimate actually WEATHERFORD INTERNATIONAL. Shed six thousand jobs in a single day last week how loud that is just that staggering and you think of the human cost of that is Almost unbearable so let's talk a little bit about some of the things that have happened. Can you just talk a little bit about what happened with Saudi Arabia and Russia on March eighth? The kind of started a snowball downhill right. So I think a snowball was already rolling downhill. Because as we talked about investors had gotten really fed up with the fracking's inability to produce free cash flow. And you can look at the amounts that fracking companies were able to raise in the equity markets They're all sorts of measures of this. You can look at the performance of publicly traded fracking stocks and you can see that investors were saying. We don't want anything more to do with this until you can prove that you can. You can make money so so. The trend was already in place but then to have these two events hit once one being total demand destruction as a result of corona virus. And it's obvious but it hadn't really occurred to me that in most cases if the price is collapsing. You've got a little bit of elasticity and that people will start driving more and using using more gasoline and now you've got exactly the opposite happening because of crown of virus so the obvious responses to cheaper oil have not kicked in so that's one huge factor and then of course on March eighth you had Saudi Arabia and Russia. The worst possible moment. Play this game of chicken where they both emerged losers because they both refuse to cut to cut production And you know the deal. That president trump helped negotiate recently. I mean at blunts the edges of that but it but it doesn't do much at this point. We're I believe the last estimate I saw was were overproducing by about thirty million barrels a day their plan to curb production amounts to about fifteen million barrels So we're we're still over supplying twice the amount that they've promised to curtail and in the meantime we've had hearings on probation. The Texas Railroad Commission our state agency that regulates oil and gas. Despite its name. They had a hearing last week to discuss whether or not they would begin pro rating in the state making producers curbed their production to a certain level which they did from the Nineteen Thirties until nineteen seventy three. And then just yesterday after you know. They heard arguments last week on those who are for and against or neutral on the position and pretty passionate arguments made on both sides and as of yesterday. They've announced that they are going to defer making a decision. So in the meantime we still have all of this oil coming onto the market with no place to go which leads us to what happened on this past Monday April twentieth. Could you maybe talk a little bit about that from your perspective? What you saw that day. Sure where will you have? The price of futures go sharply negative part of that was simply exactly as you just mentioned the storage issue because people got so afraid of being stuck with the physical delivery of oil and May that they said I'll pay somebody else to take physical delivery of this stuff because there's nowhere to put it because storage capacity is full and so it's going to be even more fall. Asleep continued over produce at the rate at the rate. We're going so people would rather actually pay somebody else to take take oil when it's time to take physical delivery than risk having to take it and not having any place to put it So it's you would never seen this before in history. I mean there are many things that are happening right now. That have never happened before in history. But you can't overstate the magnitude of the craziness in the oil market. So what happened on April twentieth this historic price clubs? Dat was partially due to the fact that The may futures contract was expiring. Yep and so. What did that mean to investors the kind of triggered just this historic drop in oil to to go negative? That meant that you had to get out of that contract. If you didn't want it so you had to either. You had to sell it. You had to get rid of it or you had to face the risk that when it came time for the expert of that contract that you would be able to get out of it if you couldn't get out of it then you'd have to take physical delivery of oil so people started to panic looking at storage and realizing that it was full and that storage was gonna cost them a great deal of money and they got scared about being in a position in. May where they would have to take might have to take delivery of oil because they wouldn't be able to roll the contract. Offer that point so there was panic selling so we're talking about these basically traders in New York or wherever they are staring down The fact that they could literally have to take these barrels of crude oil and typically. They'd have no problem offloading this to cushing Oklahoma or some other commercial storage facility but now these places are filling up. Even the pipelines to the refineries are are filling up and we have tankers out on the ocean right now just going making figure eights while they wait for place to unload their crude dynamic and typically. It's it's interesting to because we've thought of for a long time for so long. The physical trading physical oil has been almost associated detached from From the financial instruments that oil has become right so a lot of people who trade oil as a financial instrument. Don't even think about it in physical terms anymore because you could always just roll the contract right find somebody else to find somebody else to sell it to maybe take a loss but but but but it was a financial instrument and now all of a sudden near staring down the barrel of this thing you thought of as a financial instrument becoming actually this physical of physical thing and I find that I find the way in which those two things became disassociated the way in which our current time. They're they're the physical and the financial are being linked back together again is really interesting for a while. Opec plus has been curtailing their production to keep prices stable and in the meantime we had. Us Shale producing more oil than we ever have before and while Russia and OPEC were curtailing their production to keep prices not great but stable in the fifty five sixty dollar range American oil. Now that's being exported starting to eat up that market share and so when Saudi Arabia comes in and asks Russia to curb another two million barrels because of the pandemic and the and the economic slowdown happening around the world. Russia basically says we're not going to do that and in fact the opposite happens in a weird way. It's it's global game of chicken right and you can see it as a personality play Between these two these two powers. But there's a more complicated dynamic going on Which is that both Saudi Arabia at least understands that oil's future is not infinite right and so they have been trying to transition their economy away from one that is completely dependent on oil into one that that is not and now you cannot again. You can't overstate how dependent Saudi Arabia's economy is on oil that's where most of the government's the kingdom's revenues come from and it is social stability in fact the break even price. The fiscal break even prices around eighty dollars a barrel. Meaning that if Saudi Arabia's getting eighty dollars a barrel. They're not able to balance their budget and they're not able to spend the money that has kept the peace in the kingdom for all these decades if not longer so they've been playing this game where they've been not game but trying to balance these two competing principles which is knowing that oil isn't GonNa last forever and yet trying and trying to get as much money from the sale of a barrel of oil as as you can today. I think what happened at the people have always cautioned me against ever thinking that you can know what went on in the minds of of of the kingdom. Because you you you don't know as an outsider an American. But you can see that what happened. Could have been. This is going to Helena handbasket. And we'd better get as much money as we can right now because this is never coming back. Then what's the point in trying not to pump if we're just going to get less and less and less per barrel oil you might as well pump all UK at right now before it's gone right? So that was the trade off today. Were making that. They could hold off that day of reckoning and once that day came where they saw that they were just GonNa get less and less and less for a barrel of oil. They were always going to say. Well we're just gonNA pump now because what's the point right. So this is layered into this is the future of oil. That's part of what happened here because on the other side of this I mean we have to imagine that demand will come back to pre cova levels. Maybe eventually that may take a couple of years. I've seen some estimate saying we're not GONNA see the same fuel consumption until twenty twenty two and you know of course. There's a lot of people saying well right. Now is a great time to invest in renewables and but even at that there will still be demand for jet fuel gasoline. Natural gas these things but yeah I mean in the meantime Saudi Arabia can maybe fight back some of that market share that they've lost previously to America in the last few years and so I think I'm not sure that what happened was so much about crushing American shale is it was about Saudi Arabia trying to operate in its own best interests. Because if you do. The the widespread belief has always been. Once we see the the dawning of the age of renewables. The price of oil goes into decline. It may bounce up and down over time but it's GonNa go into a long term secular decline right. Saudi Arabia has to get what money at camp before before that happens and if you believe that. Kobe nineteen is that the demand for oil isn't going to come back for a few years. Then you're making if you'RE NOT GONNA PUMP TODAY. You're making a gamble that by the time that demand comes back. Renew the Donna. The age of renewable still isn't going to be here and I don't know that anybody has a clear answer on that but the but that's a gamble right. I know it's very unwise to make predictions. But what do you foresee For the show industry on the other side of this so before I say anything. I'm just going to offer. A caveat offered the floor. Which is that the one thing. I learned in the hipster while I was researching my book that the history of making predictions about whether the oil industry is basically littered with everybody. Got It wrong right so I don't know the industry has come back before. Not Not from this. I think some of it depends on what the government ends up doing. And if there is federal aid for shale companies but I think in large part it depends on the dynamics. That were already played before all of this happened. How much of the really good oil producing regions does the? Us have left. What's left in the sweet spots in? What's the real break even cost and those have always been the questions right in can new technology Lower that break even costs to a point where it makes sense to get oil from the non spots and I don't know the answer those questions. I become more and more skeptical of it over the last couple of years. Because a lot of the technological innovations that were touted That were miraculously got lower. The the break even price of shale to the point where the industry was going to make money didn't prove to be true. I think the key word is cheap oil. You know because you know. There's a millions of barrels left in the Permian. But it's very expensive to get to and as you've spoken about in your in your book and your recent op Ed for the New York Times. You're skeptical that that private equity the money that has been poured into these shell companies previously to access. That oil is not gonNA be there this time around. They've learned their lesson. They've been burnt once or twice a now and that's the key difference it it is. I think although interest rates aren't going higher anytime soon right cheap debt. His fueled financial insanity in the past and it could fuel financial insanity in the future. So it's we're just in uncharted territory. All all over the place I think investors have been burned enough by fracking. At this point that it would be difficult to imagine it coming back. The absence of some kind of technological breakthrough that really transforms the break even costs. But as I said. Just never underestimate the craziness that that can ensue. When when money is basically free right and there we do have the government walled colored here which you've alluded to but even if you filled up the strategic petroleum reserve. It barely moves the needle on this thing so it seems like there's only so much the government can do at this point as well. Yeah I would think that there would be a lot of rage if there's a really whole scam bail out of the fracking industry Given where the money where. The money has gone in in the past in the sense that he had a lot of executives in a lot of Private Equity Honchos. Make a lot of money from this. And the underlying business hasn't made money and has arguably been environmentally destructive That said let me offer a caveat here to have had a lot of landowners make make a lot of money too. So it's not like this is bed. This has been a one-sided extraction rate. It's been a little bit more. It's been a little more than that but I think at wholescale bail out of of the industry is Politically quite fraud. The you can hear some of the I found. Scott Sheffield's commentary on this Sea of pioneer his commentary on this quite interesting because he said a couple of things that are almost at odds with each other when he's in his public comments on this one was when he basically admitted an interview. I think it was on. Cnbc your Bloomberg that the industry has done nothing but destroy capital But then he also said in another interview that if trump and Bailey industry out he was going to lose the energy states when it came time for the election in the fall. So that's another wild card that gets thrown in here you know. There's nothing like a crisis to turn a good capitalist into a socialist But if of course the other component here which we've touched on is is the renewables overlay and so maybe if there's any kind of silver lining to come out of this maybe it will yank us into the world the world as it's going rather than the world as as it was. I love that and that's probably a perfect note to end on because you've finally found the silver lining which has been very trying. I mean it's it's it's really hard and I don't want to minimize the pain that this is gonNA cost people. I think it's just think as I mentioned on boomtown before I grew up in a mining town where I saw how the fabric of the town changed as it went from a place where people could make a really good living working as a minor In the minds were a stable source of employment multigenerational employment right and I watched that changed. And how the fabric of the place fell apart over the ensuing decades and so. There's nothing that is pretty about these about these kinds of transitions are about these moments in history where it all comes. Crashing down falls apart It's incredibly ugly. The people whose livelihood as and that's that's where my heart hurts the worst those folks and You know like a mining town too. There's a certain like culture To to the to the industry and I I'd be lying to say that I didn't like some of that. Just tenacious tough. Let's roll up our sleeves and get after it. Top of work ethic and something I admire greatly and I know it's a big visual change but maybe some of that same culture and work ethic could be applied towards wind turbines and solar panels. And I mean it's we'll have to see right. I agree with you. It's a certain it's grit and an ability to go do physical work in it's a culture and its continuity between father and son usually particularly at least in the Minnesota iron rain probably in the prominent Permian Basin as well but it also provides a type of equality that is missing in today's society when you have families who can make really good wages and have a really good middle class income from that kind of gritty heart heart hardcore job. I I think if you've got a better society than one where where people can't earn living obviously and that's a change that just I have trouble seeing how it's good and that's adds. Perhaps the most crushing blow of the price collapse has been to the workers while industries across the world are feeling the crunch from cove in nineteen. The oilfield has been absolutely crushed since the beginning of last year. The oilfield services sector has dropped some fifty thousand jobs about thirteen percent of its workforce WEATHERFORD international a Houston based Oil Company and now on April sixteenth that it was shedding six thousand jobs. Many oil companies have slashed their budgets by half and said they'd rain in their work in the Permian Basin. Fracking is set to face. Its worst year ever and by July first at least half of all fracking. Projects are expected to end the domino effect across a wide range of companies will be far reaching many of those. I've talked to in the patch. Have taken steep pay cuts and just about. Everyone knows someone who's been laid off. Pay Crosses my buddy who works on Frat crew and wrote the theme song for Boomtown. Recently completed a two week kitchen the patch. He stayed in a man camp in pay caps and another in midland and Erie place to call home during a pandemic but he was grateful to still have the work then. The price went negative on April twentieth. I caught up with him two days. Later how man? It's kind of hard to think of where to start because we've been talking for the last Few weeks you know you've been keeping me updated on how things are going for you and in your part of the patch and what you're seeing and let's. Kinda start with early March. How're things before? Like everything. Just kind of went to shit man? Things were good. My my company hired like three or four people in on March fourth. I've got a two dollar raise in motion so things were going good busy. I started going out doing jog. Yeah we were rolling going looking forward to a busy year that was March fourth. In twenty three days later we did a fifteen percent pay-cut company wide so all went from two dollars to three dollars aac then Two days ago they did a ninety percent layoff now so within forty two days. We went from hiring people in giving raises to letting everybody well. The trajectory changed harder than you could really imagine. Yeah it's crazy. It's just like it seems like a comedy of errors or something you know because not that the corona thing caused anything but definitely didn't help you know dislike weren't thing right on top of the other have been real quick so tell me what it was like being out in the patch while Appendi- is spreading. You're in a man camp in outside pace and also in out in Midland. What were those weeks Kinda like for the most part? It was like wire working. It's just normal yet. They weren't really precautious Sam stuff like If you feel sick I don't care what it is still sick. Call you manager get relief. We don't WanNA compromise the operation right so that was out in the field. That was kind of the idea. It was just businesses normal but it would be weird like calling home. It's like Oh yeah just in the boys and been in house for three weeks. Avent gone anywhere and then trying to get food in that kind of stuff. Everything would be shut down. But it wasn't really. I wasn't really noticing a slowdown as far as traffic or that kind of thing not yet not not in March not an early March and so in the meantime. You've just kinda been working as normal your your your two week. It one week off. That's what I had been doing from March two now in this past week they called me. Go ahead to stay at the. House for a few days. We'll give you a call you've been update on what's going on right now. There's no works statehouse. They sent out emails. Saying we're going to try to keep everybody working when you're talking to our customers. Were trying to keep everybody going suggests entitled doing that so that was this past week in the called me. Monday April Twentieth the April Twentieth the Doomsday of rolling. Yes so he could be easy to remember. Yeah we'll be. I thought about that or twenty. Twenty twenty two. I always eat breakfast with my family and I got from call from office was headed mop rations in sales so they seem emotionally now they a lot of people are upset about it and trying to make them out to be bad but there was nothing they could have done you now. I mean really. They said they were going to have to let me go and they were doing layoffs and I asked him like what kindly off we talk. We talk about six or eight guys. That just didn't make the cut or are we talking about company. Y in the head of sales said we're looking at about ninety percent layoff. Walk me through the rest of your Monday. After you got that phone call. You were at breakfast. What what is the rest of the day? Look like well a winning. The boys that are already done. Were already done eating so I sat down with. Jesse told me what had happened in. You know. I had already been home a week longer than I suppose so. Neither one of us were shocked. All surprise nitto inside and I got dressed went and talked to my father long. Save East work. Gm in in Detroit and so he's been through layoffs neck on stuff you know talk about side jobs cash jobs that kind of stuff onsite and does it signed up front was Monday so Tuesday morning. You Get up and you had to west Texas Just kind of walk me through yesterday a little bit more so I got a bit or forty five. Got Dressed it the room. I got there right at break. Times ten. And so the guys they kept. We're taking a break and I can tell they feel awkward. 'cause nobody said hello to me. I talk to my boss and it was like every kept six guys you know instead. It's like I think. They said they ended up letting go early. Four people in the dude was like almost in tears in just you know. He said he told me. I'd never thought that would ever get dispatched. We I don't know anyone ever did. If it ever has or will be that you know. That's insane so I went in peace paper When Outon Truck winter a checklist of everything. Was there so ahead. My uniforms thank goodness. 'cause they were charging like a hundred bucks in just left everything else in the truck Was I started to clean up a little bit like the the bed in my shop supervisor came up and he was like Dude L. Cleaning Truck. They just let you go. Groom go home so they so when they laid off they they did. The whole thing of doing this company will survive in as soon as things get back to normal. We're going to hire back the same guys in. I'm not sure if I WANNA go back just in are still talking about it. But I don't know I guess it's it's made more complicated by the fact that the world is so weird right now I mean we're talking on Zoom Corentin But you see it as like an opportunity to to try something else or what do you Yeah I do because that was definitely. Do it feels comfortable saying this or I definitely was not racist way but Unemployment mince their allies will suckle that government while I got it and in uses an opportunity to kind of just figure out. Maybe you know I can wait it out and see what happens with the whole of nineteen thing and then also in the meantime I can be working on my music as much as I can. On what else would I do? Besides oilfield yeah. Well you've got a new album coming out on. May First Right. Nee I on on Webs it is called Lord above double-blow cool smart so we did. I appreciate you taking the time and All our love to Jesse and the boys and yes stay safe. Stay Sane and talk to you on the other side of this one breath of the time. It's all we can do. I've been will and Hanker. In Hope and stagger in SAF stammering and smoke and God a Lotta Love Tattoo. Ben Mahar but it does no good women Dr. She Says No. Bring it home to me. Bishop the movie. The valid brought tears. My wheels started winding grinding gears. Sitting on the show coming up causing boomtown is a CO production of imperative entertainment and Texas monthly executive producer. Is Jason Hope? Produced and engineered by Brian Stanford who also wrote the score. Boomtown is edited by J K Nickel and Meghan cry reported by leaked stat. The Ultra Song. Today was breaking down. Monkey Cross I'm your host and writer Christa Walls. Texas monthly's parent company also owns interests in the midstream oil and gas industry. Among other diversified investments our editorial judgments are made independently of any such investments. Don't forget to tell your friends about boomtown and leave a review on apple podcast if you like the show follow us on social media and visit. Texas monthly dot com slash boomtown for more on the story.
Tally Energy Services on Permian Perspective PP053
"The Permian Basin is an abundant oil and gas producing area. Already one of the world's leading oil producing regions the area in West Texas and southeastern New Mexico could nearly double crude oil production by the year twenty, twenty three. But who are the leaders behind this economic powerhouse and what is their story? This is Permian perspective I'm your host Krista s skinny. Sponsored by Baker, Hughes who recently launched a new and reimagined Baker Hughes Brand as an energy technology company, they strive to make energy safer cleaner in more efficient for people on the planet. Allow everyone. Welcome to this week's episode per perspective. So nice to be spending time with you as always and I just WanNa thank you for listening and your car and your office during your workout. You, are I'm actually sitting in my office in Midland Texas today joining us via Zen caster is the executive sales manager John Hammond. He is the executive sales manager for drilling services at Tally Energy Services John Thanks for joining us today summer of beer. We'll thank you so much. We're going to get her interview in just a second before we do smog WanNa. Thank everyone who has been cheering our podcast with friends and family and colleagues. We've received such nice emails from listeners all over the world and of course, right? Here in the Permian Basin and I really appreciate each and every one of you and especially those who stop by give that five star review on Itunes we love seeing those but most importantly, I'm just grateful that you appreciate the information and that you're listening and learning each week just like I am. So thank you for doing that or John Hammon is joining us today. Have you been doing? Oh, it's been great. You know really join the new styles and fashions with with face masks. These days is that it's been fun. It's definitely different times different times. Yes Unusual area yes, and the thing is we're all going through this together. We're all here for each other and I and I think that's what I love about the podcast is is that we're getting to hear how how people are transitioning during this time. So I wait to hear your story with tally energy services, but I tell us how did you get into the oil and gas business autopacific question I studied engineering in college I served my career with slumber J. I guess really the primary reason why I gotta go visit it's offered the opportunity to travel. The world a little bit. So I started my career slow Jane worked in. About four years was great experienced, tremendous opportunity the exposure to Scotland. In particular within when you're in your, you realize how much times just on a personal level was recalled travel well, transitions Brazil were an offer projects offer Zil, Internet, for about three years. Came back to the US at into consulting in software development efforts in entrepreneurial neural projects that GonNa found me your new talent organization. That's just it's. A lot of fun you meet all very interesting from all of the world is probably the most international business that I can think of I was finding the also people are are always salt of the earth in. There is a great great career choice for me out for sure despite all the channels revisit this year resilience is run industry for people and I always find that our experiences really helped. You know give us that different perspective in you have really received that by going International Brooke has that been like because you're now? In Houston and of course, doing business here in the Permian. Sure things are a little bit different than maybe being in Scotland. But that experience I'm sure has helped today tell us a little bit about how that has shaped you to be where you are in your career. Well, the word used his perspective I think it's a tremendous opportunity to get to meet lots of different people travel replaces, but also see that while food navy different than the you know the terrain, the geography be different. There's really so much more similar battles that. It makes you feel understand we're all really kind of this the other goals, similar attentions whether you're in the freezing cold haughtily, rain of Scotland, the hot dusty windstorm of a There's sort of unifying things you see across everyone you meet in Economic Asia an interesting perspective keep things if you'll be Zindler outsing absolutely. So then you switched, you said into more into a consulting and entrepreneurial position and that Brady to tally talk a little bit about what tally is doing and how it's making willing gas businesses thrive for also debris question up to talk about what we do. Tally Energy is integrated oilfield. Services Company. So we have we offer technology services across the drilling space, which is where I were completion space as well as production. So it's a tally is busy was created on the acquisition of eleven companies of last few years. So really fantastic technology France. For example, drilling the drill services business where our all time we are off our flagship is premier directional drilling which. Stabbed rain drilled several thousand wells the base over the last few years, and is a great flagship business force withdrew inside the Talian how I came joint. Allen. Was Me along with the are this offer company called Dynasty? The does you three D. operations really real operations or GIO. Syrian well-placed wins during opposition and so kind of Italian idea. Would be to repair established successful brand businesses with cool technology hopefully when you combine the two together. What, what's expression? The whole is greater than the sum of the parts around of what we know what we're trying to do it in a lot of what's the hotel are tallied focuses we want to help our make that wells and so let's providing. The operators with the right speed the right size, the right priced technology purpose in the premiums. For example, the kind of market the we want to service the customers that we try to tailor our offerings round and it's a it's been a great learning strange to me. I was listening to your other podcast, the guy named comments of. The smartest guy in the room? You're in the wrong room. That's that's never problem for me. I'm never in the wrong room. So it's been reopened learn a lot about you know the drilling business in general and just how he's done in the Bermuda in it's really kind of awe-inspiring you. In with scale out things of progress in changing proved in the times in the speed was operations happens much faster efficient or visiting got is really quite staggering. I love that analogy John, I'm never in the wrong room either some. Technology because technology has changed so much sure since you when you first got into oil and gas with slumber J. Tim now, how has technology really helped? Inch aged benefited your customers now with tally and with with drilling with everything how I mean how how do you see it benefiting customers? Well, this is an interesting question. It's an interesting thing about perspective you know what was working for slumber J. was. There was a hundred thousand employees. It was enormous being of the company and it still is of it was extremely large then in. At a huge amount of RND development budgets in the way that they went after markets what I think as technology advances my personal theory is technological advances really kind of help democratize opportunities for people who are willing to put an effort putting the work and so. We can with our company if we don't necessarily have the billion dollar are but we have burst mark B we developed in improving enhance erade onto the work trying to drive that performances in in be competitive in operate it much more for a much lower cost of acquisition costs of exposure to really cruel technologies, and so we don't want to over engineer things, but we always wanted to prove things in iterating and we have to call the virtuous. Circle of continuous improvement where you're you said a plan, you communicate that plan you act on the plane, and then you've got review the your performance against it and always trying to make those small incremental improvements whether it's technology or processor training development people. Those are extremely important things to, and so I feel like it's just we made couldn't done this. You know twenty years ago but through the development of of new down hole technology within DVD motor-manufacturing polymers and the. Rubber, in the are the most of us all things Kinda come together to allow us to deliver performances really really breathtaking given the circumstance giving up. Some what have. Learned working here in West Texas and drilling that you know maybe maybe surprised you coming into this market, is there anything that is made different for some of it may hasn't been here to the Permian well, I'll tell you that I I remember it as clear as yesterday. The first time I would midland was about eight years ago and I flew in from Houston and I got off the airplane was in my car driving from the airport hotel when there was three drilling rigs lit up. On the side of the highway thought is the cruelest thing I've ever seen because normally in my in my previous field experience was universal for long journey where the GONNA helicoptering off offshore to a rib but just didn't have the the immediate exposure to to the actual drilling operations. I. Was that just the for me is a fantastic thing. was on the Great Place Right? I. Know It is kind of shocking when literally there is a regular backyard. So it is it is so cool and I think. Doing here in West Texas, it may be similar to other places in the world, but there's something special about West Texans, and then that is the people for sure and just the willingness for everyone to help each other out what kind of help would you or or advice would you give someone that may be is about to start a business here in West Texas? Maybe just moved here. What advice would you give to them? I would tell you you're absolutely writing the people were sexist fantastic folks. There's a willingness to help. There's a friendliness in a in a warmth. I can't think of time where I've had a uncomfortable conversation with a stranger in West Texas they're just really friendly people and there is a certain amount of length of heritage in there's like a cultural history of these families and businesses and entrepreneurs. Bits and I think you get the reputation. Sufficient happiness is a very entrepreneurial place. There's lots of people see a problem see an opportunity they wanna you'll start company in in address. And grow as a result of this. It's just. A lot of parallels between American, entrepreneurism frontier mentality still mathis itself in in West Texas because it can be a challenging place. It's hardy. It's the hardest place to live in candy. It's. Like now challenging market sued Near respected about XS and I think that there's also the. Field is we have not yet succumbed with the demand for credential ISM and you know you have to have a fancy degree in a fancy pedigree is if you have brains if you have. To work hard willing to. These up in the dirty go efforts. There are a ton of opportunities still exist in oil field athlete particularly in Texas absolutely what have you found to be the most challenging thing about what we've been going through as an industry in oil and gas during this? For me, it's just the level of uncertainty. That the difficulty the plan on what do we expect the future to to look like what's the demand effect of the COVID? From the fact that we're. Home, it would not fly on airplanes were not. Not, using energy in the same way that he had asked not interacting with people is doing about in the past and there's a lot of uncertainty as to how long it's GonNa go on what what what does the new normal look like? We make plans out of reach, make investments in physician ourselves to be. Strong and healthy going forward I think. Sometimes we get told that shouldn't wear masks in should wear masks, and then there's always difference with mixed messages that. Feed into an underlying level of uncertainty about the future I think is, is probably the thing that it's ours everybody. Say That you can suffer anything if you know exactly when it's going to end. The indeterminate nature things what makes it a lot art up to to work through? That is so true that really is right now we just don't know when it's going to end. We're all hoping soon we just don't know. Is there one thing like one tool that you've used during this time or whether it's a business tool or or otherwise that is really kind of helped you with your team members to keep you wall on-track because if You or anything anybody anything like me I should say, sometimes it's easy for your mind start to wander during the day, and then you have to get back on track the InFocus because there is so much uncertainty. So is any one tool that has help oriented Funny but it's shameless plug for Microsoft I. Think we we been expanding our users Microsoft teams over. And have found it to be like our. A good way because we've got on mining got people that were people in West Texas with. That south Texas Houston, so we're of spread around and so it's a great tool for us to. Keep negated share files, share information, and work collaboratively, and then we have weekly meetings as group at long meetings regular basis as well. Just you know keeping communication in, it's funny big the difference between a phone call and I originally grown to appreciate since I also all the Webcam but there is something nice about seeing some woods face when you speak to them. Is never going to be the same as in person meeting, but there is something nice about being That kind of helps approximate you know. We're used to. I think that's been a really good thing for us on reduced to kind of keep your body Luke gets Kinda chat ribs and things that can go on a new your own smashing I couldn't agree more. There is definitely something to you know to see someone in and to see their expansion, and that's why usually I do my podcast in person but today we're having to via's. Time it it still nice apple take a phone call or ABC. Cam Or facetime over a an email or text any day just because it's so nice to hear someone's voice right and. To, feel that connection. So I love that I. Think it's a great plug for Microsoft's. Based on that to save your check writing were were. Customers. Won't take a chapter from what we will. CHECK THE ENDORSE I used to say that you know a face to face meeting is worth ten phone calls in a phone. Call is worth tennis. You know in the sort of like the efficiency negation how much you can get packed into what's communicated between people. We travel we get on our planes. We travel long distances sometimes for. Know an hour or two faced facing are actually because it actually is a more efficient way to communicate general, and so I think using webcams things occur situations is the best approximation for something like that. I could not agree more. What is the one thing that you want our listeners to know about tally and what your goals are for the future during you know not just during these answer times but you know what is your goal in general for your customers at tally energy services what it's in our timeline we are we we save all time. We we sit. We think about it all the time we begged into whether one out for us make their wells I think. Today's in the uncertain future market I think that's where we're GONNA BE IN Sounds kind of trivial, but it's so much baked into that that mentality, which is you know how do we? Work more efficiently. Had We. Extract willing to ask more efficiently. OUTTA weeds you know. Given the certainly this front of us the more efficient yet the better we can make the work that we do count. The better will be insulated and protected from from the variability in the uncertain future things. So from a kind of. Technical operational standpoint you know we believe in. What we do helps our customers mega wells on. Ways of you do that as we believe in, you know cross-disciplinary team. So correcting downloads, communication styles of exists organizations whether it's between the you know a very famous and long-standing traditional and gases these competition between the drillers and geologists men how? Friendly. This vinas sometimes it's the more important than who knows what they're doing more or who complains about the other hand more strongly. And then awful. Lot of stealing the drilling guys were completion guys you know all those kind of. Friendly, but maybe not always certainly a opportunities for gravitation technologies and services that bridge those gaps so that and we will observe whenever we do that. Well, it really does unlock lot value in really helps our customers away. So those things kind of get us the most sinus able to really do those kind of crosses Larry multi technology configurations that yields Lou insight or help reduce the cost or in glimmered ways those kinds of things that are we that's what gives us jazz up. Excited really kind of central to the the tally energy. Business thesis analogous specifically where group that I work with on a day-to-day basis the guys premier directional among best ritual ruling service companies, Americans Day. I think it's I. Think. Two? Thousand cloudy or forty nine wells been operating there since twenty twelve in an advocate of experience. A lot of really good customers that we appreciate a Latin and enjoy work from that we learned from and that we. The appreciate our. Suggestions for proves authorizations and things, and and also the thing that the that I would say is that we care about our community to give them our people were big supporters of the oilfield I disagree organization been a a big become foster those guys for a long time we Ganda goes their signal and helps or your their their fundraising efforts. Visits is really really good program and effort It can suit it fits with our corporate Italian of YOU WANNA be want to be helpful and supportive of the. Community in general absolutely. Okay. It's time to get personal. This is the Barbara. Tell us John what is your favorite Boker podcast that you're listening to my favorite book? Well as funny. So my favorite book of All Times is the alchemist the by pollock William it's just. Right now it's a great book. I make my kids read it. You know give gifts a lot. You know something silly. It's. It's a great book for me in the less the I don't want to spoil it for you if you're not too far into but there's a great lesson about the boy who goes to is fan world and vice about. How to pay attention to the spoon, but also the oil in this boom also don't miss all the wonders Rogers. Is One of those you know outer. Zen Be mindful of the details, but also keeping perspective on the bigger picture and the beauty that the s offer. That kind of resonates with me a lot a reluctance story, and also just the the notion that she wants of the net enough. If you will work hard enough for it, you know the whole universities fires help you get it. I really liked unit and that's a it's a kind of A. Cool Way to think about the world into thinking about your efforts in focus your mind on your was care about was trying to try to achieve. Yes. I love that I'm so excited to finish it I'm about halfway through my my son who is an avid reader he's in in college be a a junior this year in college there in Houston actually rice and. Said I said what book one book do I need to read this summer and he told me the alchemist and so I'm Lebanon it's a great book. So thanks for suggesting that and not spoil the ending for. was. The other one that I read recently, which is great more. Business in sales marketing is. Similar name interesting enough. It's called alchemy in. The Garden of choose relook at upside. The also the the proper credits, but essentially, it's a book written by. Sort of human behavioral scientists. WHO's also advertising executive at the big firm in the UK and he tells his. Business examples of how will we think we will we say that we want customers and where we actually want very often her are completely different and they're like, well, we we actually want in our minds that we use our logic intellect try to justify it. But like the reason why we actually choose something over nothing really not based on logic very often at all, it's it's really. Cumulus something else in our in our human software which the in one of the examiners it gives if people are waiting for an airplane were train or or bus understanding, we think it will want as a train that comes on time or airplane is never late. We're actually really want is to understand how long do we have to wait the there uncertainty the how long have to wait for League for situation stabilized same thing if you're the big difference between being told that your flight is delayed or your flight is delayed, ninety minutes is an enormous difference in your sort of satisfaction is a customer and you're feeling about your your upcoming flight because you're giving. These sunken restaurant than you consider, plan your life. If you just have this sort of in indefinite glades, you just suffered all the time and so they did experiment where people who were told how the delay would be actually had half the wait time as the Hebrew words one review will be waiting ninety minutes. The other people reveal were told to wait at all urge is GONNA delay. We're giving a specific time espy for how long they weights and in the experiment they only waited forty five minutes but the people who had to wait ninety minutes or much happier much more satisfied with their child's feelings because they've been given an estimate, it was much longer delay twice. But it didn't affect their peace of mind or their sense of the quality of the journey because yesterday. was accurate in other the other group were determinedly waiting for five minutes. Like a really interesting insight through look into al-Qaeda's thing about things on your from a sales for service standpoint how can we use that information and make sure we're communicating where s worse? Helps ease that no sense Yes that is so true. We'll thank you for those suggestions to great books. I hope everyone gets chance to read them and thank you for sharing that. What about the most important lesson you've learned in life The most were less learn life is you have to tell the truth and you have to own up to it. When you make a mistake, I was a young field engineer and I made a big mistake and was very error in I had two options I could sort of tried to defuse the blame or pointing or somewhere, and just inanimate is L. Mattos. nope not through this. Is really my fault. I, should have been prevented isn't. My fault in I found out I kind of found out after the fact that that was the stunning response that people are not expected to hear from from from you'll feel is near and that it actually was the the only thing that prevented me from getting fired for my for my big mistake owned up to tonight. Hilma look this this much group I own. Rights and that was. It was a very lucky experienced related to be young up twenty, four, twenty, five years old in to learn that lesson see the impact and value of integrity in. Owning. Up to mistakes and that was a that served me. Well, concert have made lots of mistakes and also. As is the is the most important ethic also supposed to implies like what sexist were your word matters mutation matters huge amount. So Notre people with respect being honest about. When you're screwed up in your what you need to fix it is not unanimous mistakes, and so I think that kind of mentality is appreciated certainly places like army. Respects reputation kind of honor goes still still matter is still count in good wet on I think that's such a great point to make because we all make mistakes and if not, then you really are you know, are you really in there or you in the arena because you're GonNa make mistakes and I think owning up to them is so key in. and. What a great lesson the learn at such a young age of twenty four to to go. You know what? We're all GONNA make mistakes and they're gonNA really appreciate the honesty rather than the cover up in. So I think that is just a fantastic lesson to share and to know that it's okay. You'RE GONNA make mistakes minutes. Okay. That's how we learn. Elvis Michael Jordan Wayne, risky One of those guys I think it was said coach Y'all Miss Hundred Senators shots you don't take out Michael Jordan guest. I love doing right. So you. Pick. Shots for them when you miss. Handle. That situation with with integrity and honesty you'll probably be just fine. Absolutely will speaking, I, love quotes. So what is your favorite pok? Okay. So it's it's the coolest on my Lincoln headers while is it probably is my favorite time in its by Eisenhower. I think when he was still general in World War. Two and he said in his experience battle plans are useless. The battle planning is indispensable and it's one of those things i. feel like sort of wisdom jeans you can pack in a huge amount of useful information to a few words in it's what he says is so true is it not? So seldom do our plans go exactly as we thought they would. So you could have the the notion that we don't need to spend some planning but the reality is that going through the planning process allows you to think about different things and win those variations in in the plane happened you're better prepared to deal with them to adjust the pitted and come out still successful even if it doesn't go exactly how you you drew it up on the playbook. That's a big measles planning preparation whether you call you digitalising success were pining for success, but also going to those processes that are processes, Veggie for whenever things go awry, and that might my husband and I always tell our kids to write it down in Pensacola because sometimes at a racer comes in handy. Because the clan. And then you just Yet. I know your kids Golfer by golf. pensyl-. threat. Next question. This is just in general. What are you looking forward to the most right now? Oh, man to like hang out with. People that I might my friends family coworkers in a group in a way that we're not like paranoid that we can't shake hands that we have to. Stand socially. I would I would love to be plays. Were you go back to the? Comfort level of people in in person not just on the selfish Will tell me something good. What's what's happening in your life? Tell me something good. Let's see. My son is thirteen Lacrosse player and they won the championship determined last week in and at the very end of the championship game. Coast matching. Four to three and the other team was coming down the field to your threatening to score in someplace defense, and he made an interception and. Ran The ball downfield around the clock. In this dramatic, an championship game type fashioned is predicting tangled. That's awesome. Congratulations. Getting way I know if you like. Your kids play their sports and there's It's fun to see them do what they love to do and how exciting ending that is that is awesome. Congressional Elections Shot Using House. Finally is there anything that maybe we haven't touched on today that you really were hoping to our listeners would get to know either about you or about tally that you wanNA share I guess. Very simple level. Are. Drilling Services. Businesses we invested ten million dollars to our disabilities. Last year, we had a really world facility a headquarters Houston where we do all our maintenance. And Service and manufacturing for are really drink. Women are are super high quality. Mud voters are blisteringly fast systems maintain manufacturer Still Houston is really beautiful and unfortunately we can't we get invited person to do jurors like used to, but we have done a very cool three d virtual rendition of the shop and would love to be able to do A. Teams goal where we can walk it through reversal of facility and kind of show you what we're all about and so only perhaps demonstrate Arkham. Equality are to building good equipment and then obser- service deliveries has been really exceptional. Laden were just want to be as useful as we can't choose many people who are still operating in these times. ANTASTIC. Well, thank you. So much for sharing today I've really enjoyed our conversation and learning more about what you do with your company and just I appreciate all the words of wisdom you shared as well. How can people get a hold of you if they would like to talk to you further while Lincoln's spot you're always trying to in this sort of Danish, raise our digital profile. Are Digital Pretty might say so you can you can find new premier directional drilling DOT COM. We could find his tally energy dot com where you can find on the link Dan. We already put posts out there sometimes refining sometimes you're technical, but we try to be offering content as much as we can to free to reach out to me in in Anne's. Leaped in or orients meeting mail at John Dot, ammend, tally, energy, dot, com wonderful on. We will definitely post those links in our show notes Sean. Thank you so much for sharing with us today. We appreciate you wish you the best during these times and beyond, and just hope to see you here in the Permian soon so I can forgive can't wait to the mid Olympics much don ruins or the Christopher shoot. Thank you. It's now time to announce today's community MVP and our MVP this week or my good friends Natalie and cargyll. They recently made a major donation the cargo charitable foundation just donated one hundred thousand dollars to the West Texas Food Bank. The car are so kind in their donation and just an amazing couple Ed just love Natalie to pieces and their hearts are just so giving. So congratulations to the foundation for being able to help so many people this is just fantastic for those of you who know the West Texas, food? Bank. They've been feeding families in Odessa Midland and the entire West Texas area for more than thirty five years. They are the largest nonprofit nongovernmental hunger relief organization in the Permian and they are proud to distribute in donate purchase food to children, families, seniors with the help of more than eighty partner agencies, and of course, this one, hundred, thousand dollar donation from the car gals is truly amazing if you know someone who needs help feeding their family or if you're looking to donate to a wonderful organization here in West Texas please visit. W. T. X. Foodbank. Dot Org. Well, that concludes this week's Permian. Perspective the story behind the oil and gas leaders in the Permian Basin a very special. Thank you to. Baker. Hughes for sponsoring. Permian. Perspective. We can do it without them. We appreciate them and all they're doing here in West Texas. So remember my mottos dream big believe in yourself and never give up you make it a great day. Hey. Everybody Alex here with the events on deck. So do do occur circumstances. Of course, we are not able to have any in person. So I've nothing of that nature to update you guys on but we have been hosting some virtual events. So obgyn is wanting to offer free webinars, live happy hours, etc. During this time, since these events are not scheduled out as far in advance as in person events, we would like to keep you guys updated the facebook Lincoln and twitter so be sure to. Keep checking on that and we'll keep you guys posted on anything we're offering it has been free. We want to offer you guys value during this time that we're all at home. So please continue checking in joining us for these virtual events. We are looking forward to seeing you guys whenever we're able to have in person event and hope you're staying safe and sound. Tune in next week for another episode of Permian Perspective a production of the oil and gas global network learn more at www dot org, g., N., DOT COM.
Monitor Show 16:00 09-23-2020 16:00
"On the Bloomberg business app and and Bloomberg quick-take. He's Bloomberg Radio Point three-per-cent markets headlines and breaking news twenty-four hours a day at bloomberg.com the Bloomberg business app and then Bloomberg Quick Tag freeze is a Bloomberg business plan on Bloomberg World Headquarters. I'm Charlie out there. You have it sound of the closing bell at the New York Stock Exchange folks from 6, Meridian ringing that closing bell this report brought to you by with them a forward-thinking advisory and accounting firm helping clients to be in a position of strength in the new reality of Life most learn about their innovative solutions by visiting with them a.com stocks closed at session lows amid warnings from the FED on the need for more stimulus package the US economy from a coronavirus induced recession the dollar rallied S&P at its lowest close in about 2 months NASDAQ 100 index tumbled more than 3% LED bulb. Is Apple and amazon.com today? Apple was down 4.2% Amazon fell 4.1% the Dow dropped $524 points lower by 1.9% off 500 Index down 78 a drop of 2.4% NASDAQ down 330 a decline there a 3% NASDAQ 100 index sound 353 points lower down by 3.2% 10-year yield .67% gold down 2% 1861 the ounce and West Texas intermediate crude down five tenths of 1% 3965 for a barrel of West Texas intermediate crude plans for the market backdrop. Katie, Koch is global co-head of
Monitor Show 16:00 09-22-2020 16:00
"There's a day at. Bloomberg. Dot Com on the Bloomberg business APP and Bloomberg dictate. This is Bloomberg radio. Markets, headlines, and breaking news twenty, four hours a day at Bloomberg Dot com the Bloomberg business at and and Bloomberg Quick Tape Bruce. He's a Bloomberg business. Flash. Bloomberg. World Headquarters I'm Charlie PELLETAN UPDATE FOR THE DOW THE S&P and Nasdaq there you have it sound or the closing Bell Eappen News York Stock. Exchange folks from the climate group bringing that closing bell as some P. Five hundred index climbing today by thirty four points up more. Than One percent sharp contrast to this time yesterday the Dow up one, hundred, thirty, nine up five tens Nasdaq surged one hundred eighty, four points up one point seven percent the Dow the S&P NASDAQ, all the fence enclosing close to session highs Nasdaq one hundred index advancing today by one point, nine percent Dow transports up by eight tenths of one percent ten year yield their point, six percent gold down five tenths of one percent nineteen o two. And West Texas intermediate crude up seven tenths of one percent thirty, nine, sixty, four of west Texas intermediate crude stocks rose dipped buyers emerged after the market selloff tempering concern over remarks from Federal Reserve officials that pointed to a slow economic recovery. Tony Dwyer is equity strategist at Canaccord genuity on this morning on Bloomberg surveillance. He told US investors are dealing with plenty of unknowns out of Washington. We don't know what the implications Supreme Court Nominees Day. We don't know if they're going to have the Senate if the Democrats are gonNA sweep and have both the White House and the Senate I just don't think it's an investable event a what you do.
Ondaka virtual Oil & Gas Round-table on Permian Perspective PP048
"The Permian Basin is an abundant oil and gas producing area already one of the world's leading oil producing regions the area in West Texas and southeastern New Mexico could nearly double crude oil production by the year. Twenty twenty three but who are the leaders behind this economic powerhouse and what is their story. This is permian perspective. I'm your host Krista. A skinny today show sponsored by Baker Hughes who recently launched a new and reimagined Baker Hughes. Brand has an energy technology company. They strive to make energy safer cleaner and more efficient for people in the planet. Hello everyone welcome to this week's episode. I'm just so thankful that you were spending this time with us here at Permian Perspective and I hope that you're doing well. I do want to let everyone know that today's episode is a recording of Virtual Roundtable that I was honored to recently host and at the day of recording. Oil was much less. But so I wanted to let you know what oils trading at. Today's at twenty seven seventy seven West Texas is opening up. Restaurants are open twenty five percent capacity retail stores are open for curbside service. Here in the Permian. And there's a little buzz in West Texas. I have to say people are going back to work. It is nice to see some of you are able to return to your office. The other thing that many are doing is putting in social distancing protocol and wearing masks and so I just want to thank all of you for what a great job you're doing I know we're all doing our best. I just want to give you a virtual high five and say great job on doing your best through this pandemic as we all say we are all in this together and I've never heard her words and ensure fashion than what West Texas is showing right now during this challenging time so with that said I want to welcome you to this virtual roundtable it was honored to host it for on. Daca and thanks for listening. Have a great day. Welcome to part two virtual roundtable brought to you by on Daca and sponsored by the Iowa so glad that you could be with us here today. Discussing these are happening. The oil and gas in the air That you can utilize your business won't start off gentlemen by welcoming you back for TV. Have with as Jim cliche in James With N. B. I we have summer BOSCA's with intros strategic solutions. We have done just that with on Daca and Derek Clark With Pinnacle Contracts Gentlemen. Thanks for being with us today. Thank you progress. Schmil much today as a reporting oil is trading in one thousand. Nine hundred. Sixty eight league recounts today that four away which is down fifty seven from last week shocking began five hundred eighty two from last year a gentleman. I think what we all WanNa know is. Where do you think is heading it and also you share? Maybe two three tips that you had Dan in your business sales wise. That could maybe help all of us since we are all in this together gin getaway. We want to hear these well earlier this morning. That crystal ball out at out Milan added got it said guesses. Good Ma so wouldn't told me so. I really believe we have to look in a couple of factors this in the election. Year old enough to remember is about the gassing Election years are always down. You always without exception to bow them. Sixteen we get beaten up by energy companies to lower outrage mediums. You still operating those same rights now here to win twenty four years later. Wiz PANDEMIC THAT. We're face in like nothing we've ever seen with that. Donald Trump in the White House who was a friend of the energy business. But he's always send me and you know Joe Biden Ryan against the all very critical things but at the end of the day. Trump has worked with India p negotiated an opportunity for us to sell all about access to any. That's a lindvall that shield Saudi Arabia Faris and Russia but had stabilized it forces world prices up because India is the fastest growing civilized nations in the world. They are going to sing. Pass China those loose. Saying that I see are optimistic. That India will maybe fifteen years the middle lower middle-class country where everyone had automobiles everyone had motorbikes? Everyone Electric moderate omen sewage. It always in the only abortion. Asian has now and aging rapidly billed as fast as China. It so you know that will bring up. Global demand lead global demand global demand not only for diesel and gasoline global demand for chemicals for plastics for resins polymers. All things that oil she bought up now we also need to natural gas exports we government that will support the building of Ellen g systems so we have that now. Will we have that in a few chummy. Posted either for approved already so though the very things and I see light at the end of the tunnel but we've navigated they sayings before will do it again. I-i-in necessarily agree with said especially when you look at how strong gas mystery is. Just you know a backbone being research area you know in times like this. We've Seen Innovation Develop Processes Ping streamlined. Tell like everything's on the table at this point in in our elected officials MC tough job. It's not easy plot the railroad commission especially chairman. Christians done a great job being a leader answering hard questions. Socratic is thing. It's just not looking at what our options are at. What do we need says? Because at Texas is partly S. Were a global leader. Energy-sector folks are turning to us for inches and so the silver lining up down charm or economic abrupt. Stop like this is a forces us to take a breath and intimate right slowdown angst. You one thing I've always said is the best and brightest minds in this industry worked for our companies small companies like Derek in mind or large companies like the Exxon World everybody is looking at ways to get us out of this thing and so I think we trust ship to do they wanna do but organically out of the industry. I think we will find answers. And so when the was. What do you do to kind of bolster cells? What do you do to improve? Processes will Jews vokes in it. Why don't do direct sales? You know putting people in the same room. I think like both like John. Ikea Too busy of attention. Now all of a chance to explore how these technologies can streamline save money cut costs through processes. You know you look at ways to be so the last piece of advice out. Is You know at this moment. Focused on what? You're really good at right. Now is not the time to be. I do everything. I'm glad to help with everything and do what I can. Go beyond the service Mike Lines but I try to focus on what? I'm really good at that for me. It's raining people together. Tearing Information Keeping folks educated so that so that we eliminate some of the advantage comes along with insurgency but I I do believe that we should especially condition just And we'll find a way out of this number Anki sandwich fish with their tails. Say it just to kind of piggyback silver and said You know what I'm seeing a lot of oil and gas on him out in same time there's not anybody old world right everybody. It's it's a tough market no matter what your Mrs Bud. Oil and gas. I think what I've seen it's always out of Stanley. Kinda drooping community base out here on the Permian and I think now more so received back from a lot of people. I think it's interesting to see. Every communities are all team over been. I think that's going to be the keep going forward as everybody seems to understand. We all are in the same fight and we all need to help each other through this fight or none of his shooting. Make out and as far as you know your second part of that question you know how to increase themselves or anything like that. I wish there was a magic answer. Had be a lot better but I think silver drive. I think network news is she. I spend a lot of time. Prospecting of most of my sails. Paul should be. Autrey warm leads through my network and I think that's what will help you ultimately relationships and I know silver work together with another organization basing sociation finers. That's big part of what that Organization for about everything but a big part of it is the network decided that in been able to put people in same room in my town. As long as I'm trying to help other people give business somehow comes back around with me and other people in the bubbling media. So if you're not working on your network I think that's the first thing you'd be doing is building your network reaching out a late. Dan and even more so building Personal Branford cell phone lines ended and building content but people want to have dialogue with not just putting up with cheesy flyer on there. Like I've done a million times myself but you know China create engagement with people. Actually you know. Put something out that people want to respond back to in through that. And we're looking at you to liberty company Organically Trudeau sales for yourself. But yet I got a lot to learn that. She's got what I consider the last couple of months. Great advice dolls. It really is about that communication in communication during these times when he can't have lunch together or they will now you can today Texas but we're before UH couple months meeting like this insane connected sending that tests that constant contact email at Chia customers. Just just check on you know. I think that's a check on if there is anything that you can do. It doesn't always have to be about putting that sale right in front of the at that moment that contacted. It's just checking seeing headed so personally shoot. John What about you? What do you think where we having this guy? Some unique clearly things are are not great now and I think he's unserved one out of his ears so that seat as you had a herniated and plus one necessary which is the smaller guys arm more old as they just don't have resources it's not decided who relates the quality of thing that they're building she's in a lot of our founders. Were terrified is. They're clearly long if you're doing restaurant reservations online and on the restaurants either visually gene in the short-term. Let's actually think we're somewhere in front of us is awesome in one of the biggest opportunities. I think our life now. One of my life and it was at the lock had just started really release. It told me like it's more doksan remote learning tools at numerous more remember university levels of the previous use. Mac that makes this win something. What was interesting was not but it happened why it wasn't happening before because they had they had budgets. Tenure professors were blocking Bush functional. Basically as you said Yeah. That's great advice. You might which Micra cycles relate some of the Bible in other industries like well. Yes since rack rate. But I'd rather die of their because that's just what you might suddenly visor open as listen. Neither loosening national. They can not to do so. I think there's opportunity for new ideas new Beijing and hopefully the family is open to getting some second resulting valley's really's lawyered up figures to transform each down that I don't really look at his arrogance. Confidence is that night. Want y'all to be confident in the technology because I know I'm not so when I taught think about Silicon Valley and think about just the technology companies in general. Just thank you because I know my communication brain doesn't work that way. I can talk to people they want but I need the avenue to get there and you all have those amazing Abbas because of your intelligence and your experience so thank you for that. I really appreciate you mention that the gentleman I know running out of time in this segment it goes faster than a virtual roundtable. Quick that before relieve. I wanted to ask silver because I know all of us have worked forces. I know we have team members that much to ask says employers are asking questions to know what is the number one question. You're getting asked for solutions using could help. Everybody awesome the one thing that folks are asking for sprout. Now I will tell you know the pleasure of working with or for Solutions Alamo. In helping them with some other rural work in San Antonio Assistance overwhelmed. But certainly there's been a lot of data coming in as a male folks condition to help people that need help. And so the one thing that would freeze patients but out of this need or so many networking opportunities with the Small Business Association which e Commerce. With the governor's office people go online and find out more opportunities next week. There's a whole process on spur. Small businesses on out to apply for loans not just the federal coming in but existing loans. How do I implement those opportunities to In so think people are coming to us. Or Create a workforce of scary. But there's a lot of Out there to help is just when everybody desk at the same time. It's tough to that. You know office more people to work for them. They're doing the best. They can and trying to capitalize on areas. Where he's got critical mass? You know it's tough now but I think you know. Very slowly Recruitment in owes to me you know just a little patient and maintain the Brazilians which might be a positive outcome. You the rest of you with your teams in their questions and their concerns because then as a business centre or as a business leader and sure they are coming to you with. What are we gonNA have a job to needs from our different perceptions Tom mckean exactly where we are. That we know the is only no decisions on the spur of reversing. But we're in this together. No one hundred percents where with operational redo its is involves a different situation. Please insert single all our place so he very flexible when their own one does year. Like perched by awesome Hospice who needed and it's really to glass records entries upset. Probably I said definitely also meet Valley people connected with life and productive Mass Bay to up date and some lesser players. Were too so does can do to help. Team sweaters students other things and those loaded darry magic that just to touch base on what John was saying. Start at the same thing. We're very transparent. We sat down with. Our team explained our concerns and their concerns. We had a good talk on everything. Oddly enough I think it builds a little working broderie between us and lay understood. We were going to do everything we can. Keep the hours coming in. And everybody makes paychecks ago families but not me just a touch on that transparency and. I think for our team kind of builds a little bit more you know some rotary with Venice. 'cause we're we basically all decided we are going to ride this out. We are GONNA fight reason. We've all had to make sacrifices around ways Fortunate better teams that way. So that south Oddly positive light coming out stronger on the other hand on that. You didn't get your thoughts on malet go too long on them but uh Lonely sometime that top from Jayme Wood fiber people depending on their lives so transparently. Whichever couple times me that's correct you have to be transparent bagels. And whether they're eighteen year veteran are eighteen weeks with the company team days. They all worried because when this first started I was going to happen with a rule news. What was so. I was continuously sending letter out trying to see. Many people obviously could ahead changing flying around the country to each office that got knocked out and in transplanted. Everyone worked winning best. We can made sacrifices and more comments twenty two one on the sacrifices that we may versus negative conflicts and that was really heartfelt to me by the employee base of India. I didn't want to do is but who forced the great part. Most people realize that Decide on management side whenever on meeting. Everybody knows it's not ideal for anybody right With the police understand sacrifices are UNFORTUN- and visit? You had time for me. They got one like a thirty second comment on someone said palm of them a couple of other industry. It's my love in the healthshare drug rehabilitation in the state as a investing am also involved in aviation and I will tell you that the oil and gas industry is one of the rare industries at all pulled together and help each other. Make the I can assure you the healthcare business China to find out when they can chop off in. Get your super to your client base in aviation. It's cutthroat anything on earth and I've been years ago business electric impasse on and as his Ever been involved so this gas industry is brilliant compilation of really good at the end of the day active great way to end this segment because it truly is that what. I have noticed here in West Texas being year over twenty one years is that I don't care who you want. You're always trying to help send someone always trying to help you and if you call someone or you show up at their door and say I need health. They're not going to turn the way they're going to help you out so gentlemen. Thank you so much for sharing. I thought that was wonderful. Great Conversation we wanted to thank everyone who is watching at home or at your office watching this virtual roundtable sponsored by MB. We're going to wrap things up in this but we're gonNA hear the conversation on one more. Let's go part three. Does that sound gentlemen three okay. We will do that. We're going to wrap this Megyn CLICHE to sober. Bosca's John Joseph Kandar Clark or being with us today sharing their experience ensuring their knowledge with us. We hope you'll join us for our next virtual roundtable where we will talk about. What can be done on a national level and however all GonNa get through this roller coaster ride of the oil and gas industry together in the payment in that heard negative people refer to it as the perfect storm or the double whammy we are going to talk about that on our next virtual roundtable much for joining us and you get a great. I really enjoyed that and thanks again. Gentlemen that was fun to hear. Different perspectives and how they are dealing with the pandemic. I've posted links in the show notes to part one and two of our virtual roundtable. If you would like to listen if you WANNA watch us you can go to those links and part three will be out in the next week or two. So it's time now to announce today's community MVP and today's community. Mvp is an absolutely wonderful mental health source here in West Texas Centers for families and children and this caught my attention on social media. Recently centers is proud to provide two free sessions to healthcare workers and first responders who were fighting Ovid nineteen. I am not surprised by generosity. Centers does so many wonderful things here in our community and we thank you centers. We thank you healthcare workers and we thank you first responders for all you do. You are the true heroes during this difficult time. So that concludes this episode of Permian Perspective. A special thank you to Baker Hughes for sponsoring our show Baker Hughes you know recently launched a new and reimagined Baker Hughes brand and as an energy technology company they are striving to make energy safer cleaner and more efficient for people and the planet. Okay remember my life. Matas is always dream big believe and never give up these words or so true not only today but tomorrow and the next day and the next day and the next day. That's right. We are all in this together. So DREAM BIG BELIEVER. Never give up. Thanks again for joining us for Permian perspective. The story behind the oil and gas leaders in the Permian. You make it a great day. Hey everybody Alex here with the events on deck so do current circumstances of course we are not able to have any in person events so I've nothing of that nature to update you guys on but we have been hosting some virtual events so obgyn is wanting to offer free webinars live happy hours et Cetera. During this time since these events are not scheduled out as far in advance as in person events we would like to keep you guys updated via facebook Lincoln twitter so be sure to keep checking on that. And we'll keep you guys posted on anything. We're offering. It has been free to offer you guys value during this time that we're all at home so please continue checking in and joining us for these virtual events. We are looking forward to seeing you guys whenever we're able to have in person events and hope you're staying safe and sound tune in next week for another episode of Permian Perspective it production of the oil and gas global network learn more at www dot obgyn dot com.
Jim Blakemore of J Cubed Housing on Permian Perspective PP019
"<music> the Permian Basin is an abundant oil and gas producing area already one of the world's leading oil producing regions the area in West Texas and southeastern New Mexico could nearly double crude oil production by the year twenty twenty three but who are the leaders behind this economic powerhouse and what is their story. This is permian perspective. I'm your host Krista a skinny sponsored by I Baker Hughes a GE company inventing smarter ways to bring energy to the world. Hello everyone welcome to this. Week's episode is such a pleasure to be spending time with you today. Okay on Permian perspective. I really appreciate you choosing us. I know you have a choice and we're glad you're here so today. I'm in Midland Texas with Jim Blakemore. He is the CO founder of J cubed housing. Thanks so much for being with US Jim. You're welcome before we get started. I want to ask everyone to help out our show by taking a few minutes to leave a review in iteens. I tunes especially those five star reviews we really like those yes and we're so thankful for Apple for choosing Permian perspective to be on their new and noteworthy list and we just love hearing back from you so if there's a guest you want to hear from if there's an interview you really love that really impacted your life. Let us know on EH tunes. We will definitely share your kind words and a future broadcasts so thank you Jim. Thanks again for sitting down with us today. Hometown boy here from Midland Texas exists. Tell us a little bit about how you got in the oil and gas industry and of course how you got to West Texas well I grew up here in Midland born in Fort Worth moved to midland when I was a baby and my family's been in business and ranching business for four generations so I mean it's a it's a family business grew up here. Watch watch the the boom and bust cycle. My granddad came to Texas from Mississippi as a teenager went to work sweeping the floors in a sawmill in east Texas fell in love with the sawmill owner's daughter won't bore you with all the details but wound and that sounds like a good story. It's a real rags to riches story story because he he wound up buying the sawmill from sawmill owner got in the lumber business and he bought lumber timber land in in east Texas and harvested the timber sold the surface kept the minerals got moral business he built one of the largest lumber companies in Texas in fact filthy largest lumber company in Texas parlay that into an oil and gas empire real estate empire did very very well for himself ranches across West Texas some of those who are still in the family family. Today I came along. My Dad was a captain in the Army Air Corps. He was a bombardier in between five some B seventeen in world war two in Europe. He was transferred to Midland to go to the NABET. I'm let me back. He was a navigator and B Seventeen B twenty five absolutely he transferred to midland to dear school because if he would've gone to to the Pacific Theater and to be to be twenty nine you had to have to get be cross Australian to two specialties so he was going to be a navigator and then cross trained into Bombardier. The war was over and he has he retired from the Army Air Corps. We're here in Midland back in back. In the forties and fifties the population of Midland trail welcomed with open arms the military people the the people that were stationed out here was then Sloan field they welcomed into their homes and many many of the people that were stationed at your state in in Midland. My Dad was one of them. He got in the oil business did some dry land farming all sorts of stuff out here in West Texas state in Midland basically because of the people that was it and wider. I mean it's the same way it is today absolutely and that's I've never heard that story before and I I think what's so incredible about it. Is that what you said that they welcomed the servicemen in with open arms because that just says West Texas people like nut like nothing else yeah and thank you I via via you. I thank him for his service. Because that's incredible so anyway he retired he he went to one of the parties that these that the population here that the citizens invited him to a party. He met my mom she was she was visiting her sister. Who lived here? My mom lived in Houston at the time and they married and guess what here royal here we are and they have quite a legacy themselves with the blakemore museum the planetarium that is named after your parents silence which a lot of people that have come to West Texas. I never knew who it was named after and now I'm getting to meet you and it's named after your parents. That's incredible my dad. It was the first chairman of the Board of the museum. My Mom and dad were very very philanthropic very very civic minded people. My Dad was on was the president of the Chamber of Commerce at one time and the that kind of stuff I grew up being a part of the community here and I think part of the part of the legacy part of the part of my upbringing bringing involved entrepreneurism and I've been an entrepreneur all my life and my family was an entrepreneurial family and to this day still is so let let's talk about what was the first thing you dipped your toes into in the oil and gas industry well being from oil and gas family. I mean I I would. I remember going to work with my dad as a kid. I mean as a as a young kid started first grade second grade. We go to the office with him and I didn't know what was going on what he was doing but I knew he was my dad. He was at work and I wanted to go help him work and that was that was it. I went went to grade school here. I went to prep school when I went to high school and then I went to I was in San Antonio and I stayed in San Antonio and went to Trinity University got my degree interestingly enough and television and film production election in broadcast journalism a lot in common there and so I'm a photographer I do. I I do all sorts of stuff. I got a lot of irons in the fire. The been one of these guys who just have a hard time saying no to different things when you're an entrepreneur. That's that's what you do right that you you you go. Oh go go and the company that you have right now is so incredible to hear about and I cannot wait to dive into what you do because it is needed needed here in West Texas right now and it is containers that are homes so you are the owner you and you have have a couple of partners jay cubic housing explain everyone what it is and what you do okay let me back up just a little bit shame partners gyms far Jimmy. Jimmy's police lease officer here and Jim Spars. Jimmy's Jim spars up in the construction business. I've been entrepreneurial and then Jimmy Police officer and we're trying to figure out how to solve aww or at least how to contribute to the solution for housing problem well. I'm a developer. One of my many hats a real estate developer and I I started. I put together a project in a neighboring town and it got everything <hes> got a shovel ready and I turned it over to my money people to to raise the funding to build it was a pretty sizable project so we're looking for investors and while while that was going on I started looking for other places to replicate it and so I went to a couple of other towns in and one specific which will remain nameless told me no we don't want anything. We don't want you it. We don't want any building. We don't want any apartments. We don't want any new houses. We don't want any development. We don't want you around here. Go Away and I said wait a minute. You've got people living in pop up trailer on the side of the road every vacant lot has got an RV RV in it. Don't you want housing for these people and the guy that I was talking to the city official that I was talking to said Yeah. We appreciate that and yes we understand the problem album and asked me. Do you remember what it was like. In nineteen eighty five and I said sure he was here. It was crazy if not it was equally equally as as much of a boom as it is now and this was this was back in the about two thousand eight thousand nine hundred seven seven somewhere in that area and they said and then the guy asked me. Do you remember what it was like in one thousand nine hundred seven and I said I do the price of oil dropped craft that was when the real estate market cratered. That's when the savings and loan market cratered everything I mean it was a disaster and he said exactly we had we're in one thousand nine hundred eighty five. We developers come in. They built a brand new apartment complexes new houses everything and they were all full and in one thousand nine hundred seven they were. We're all empty going back to the banks and nobody was taking care of him. It was it was a disaster here so we don't we know we know what happens. In the price of insight insight cycle it goes up it goes down and we know yes. It's a boom right now but in two three four whatever years it won't be and everybody's Bite's GonNa be gone and we don't want to repeat that situation so I got to thinking what if I built an apartment complex that when the demand was gone all I had to do was unbolted. Put It on trucks and haul it away and so my immediate you said it was going to go to chip and contains right rush. Shipping containers are their structurally strong. They're meant to be hauled around. So what if I just take a take a bunch of shipping containers and build a builder apartment complex so not taking the simple route which I'm notoriously famous for not taking the simple way I went in got a structural engineer and a mechanical engineer and we designed the shipping containers with modular connectors so that you could could just take a quick connect quick disconnect and connects for the hosing the water and the power and all that and slide together slide lock together connection so that you can you can have your bedroom module two different type two different models of bedroom module and you have a living room module and you have this model that kind of module and you can just basic sick and what I'd have is a great big Lego set right in this plug it together plug it play and put it together well. The idea was really really cool really made a lot of sense and everybody loved it except for the fact that it was really expensive to build to build them that way that whole money thing got got got in the way and then then the market the price of oil went down and the need for that type of housing kind of went away so what I did was I went and hooked up with guy up in Indiana and we started working with Indian tribes okay and most people don't most people realize that Indian tribes of terrible housing problems uh-huh very poor watts issues. I'm going to go into all the issues there but we had an Indian tribes in southwest wanted a new WHOA was looking for housing solution so what we did was we put together a project with a full business. They had a building. We were GONNA be. We were going to provide us with a a large manufacturing facility or do our building to put a manufacturing facility in we were going to train the Indians to build our modules built our homes we had the designs build everything and we've worked and we worked and we worked up. We we carry it out work with them for including the time he spent working with them before I came into the picture five years wow it was always well. We've got a new tribal council so travel council has to get their feet underground and get set up and everything then we'll get back to you and it just it went on and on and on on and on and we just they they could never make a decision right and we had everything set up it was all funded and but we never could get contracts etc out of this Indian tribe so we went on they even built a model even built a model home. If you WANNA go to the innovative habitat dot com you can see the pictures of the model home that we built. It's a three bedroom two bath fourteen hundred forty square foot home may have shipping containers later but they never would and they said if you show us you can do it. We'll we'll we'll we'll buy it. We'll buy it and we'll do the contract. Well never happened so that you learn from that experience spearing. Oh Yes yes. I'll word I went to another Indian tribe uh-huh same thing I found out I learned about the Indians I'll tell you we never were able able to put an ideal because this this tribe in South Dakota they same thing we've put together manufacturing facility put together training protocols putting everything like that they never would sign a contract to buy any houses uh-huh and so they said we thirty well thirty doesn't just thirty houses doesn't justify building a half million dollar manufacturing facility in never went on on so I'm sitting there figuring out what to do next and I'm here in town. Talk to the gym spar and Jim was saying hey you're doing. You're doing stuff. Shipping containers aren't Unison Denison. Yeah I have an idea so we talked about it. In a year ago we decided to start building workforce housing and and which we desperately need here in West Texas workforce housing affordability housing I actually just finished a meeting this morning with a group that's looking for for we're talking about putting together a project to put a sober living facility people coming out of Rehab need someplace to live then without being thrown out into the into the world old and we're working on project with them to house basically transit transitioning housing back into the into the real world that the school district meets housing for teachers. Here's one of the projects which we never we tried to put together but never did was a was housing for rookie police officers and connect firefighters because the problems albums with the with the problems they have is they come here. They go to the go to school. We need the Police Academy Fire Academy. They don't have a place where they have to typically have to sign a lease at an apartment complex for a year well. They're they're training is not a year and if they go through the training and they don't get hired tired here they've got an apartment complex. They've got to break the lease on and and it puts them in a bad situation so we were trying to put together some some housing for them. We Audrey put actually put together a proposal for the police department but they went a different way and not just the way it goes and what's so interesting about these. I was on your website. It is so so cool I mean it is literally like a house inside the container and for those of you who don't live here you know the West Texas wins and the dust and and these are wind proved they keep the bugs out. They are comfortable. You got everything you need in them. You've got your bathroom your bedroom but not only that you you design your own. I love that that's a great concept. It's basically what we're we are building efficiency apartment. There's a small one bedroom or two bedroom the fishing department. It's got to go full-size bathroom. The market I mean are targeted to these people that are maybe living in. RV's or camper trailers uh-huh you you have a you have three hundred twenty or three hundred and fifty square feet of living space in this living space has got a full-size bathroom. We got a real wheel shower so you're not cramped into a little RV shower. We have a kitchen. We don't have a full. We don't have a full kitchen but we have a kitchenette. We have microwave cook top full full-size refrigerator so they have enough place to put some food right. Most of the people that are looking for a most of the workforce housing these guys are in and out. I mean they're twelve hours on or fourteen hours on all they want is the place to come nuke some microwave a meal and go to bed right back up and do it over again so they're sturdy. These things are designed to be knocked running the oilfield you can drag them through the drag. Release Roads Drop them off of a back to what trailer whatever it takes design these things to be easily transportable the ones we're building the ones that we have that require any special transportation requirements. No permits no over size permits nothing like that. Where do you put them? You put them wherever you want. Everyone needs some Land Yup. Maybe you rent that land from someone or or if you're a big company you have the land then you can put them on there. Okay and there's no no special permits needed though we have models here in town. A couple of miles people want to see what we call J. Cubed. You've got my card over there somewhere. The social media ways defined yet the Eddie Murphy Murphy but call us. We'll take you we'll show them. We have a camp we just opened a twenty four person camp south in south minutes up to mall south of the interstate. I'm actually in the process right now. To by the end of the week I will have walked up land and the Delaware Basin five acres in the Delaware Basin. We're GONNA put somewhere between eighty and one hundred units not too far from mental kind of so people looking for housing and the and the and the Delaware will be we're very price competitive and I was just GonNa ask you. You took the words out of my head. I was GONNA ask what is what is the cost for something like this. And why should someone choose this over a travel trailer Taylor. Okay the advantages to travel trailer or that you can hook it up to you know you can put it up trailer Hitch Holloway. Take it wherever you want to go but if you'RE GONNA if you're gonNA haul it around in the <hes> Delaware Basin over at least roads. It ain't GonNa last very long. Pardon my French but it's just you know what what what the West Texas roads do to travel trailers that sort of thing. Our units are designed for the oilfield they are the the walls are plywood so there's you know have to worry. Worry about sheet rock cracking if you haul him out into out to a location that sort of thing there everything is built. It's built oilfield SPEC I mean it's designed to be <music> hauled around and it's designed to be used by oilfield personnel that we have other models. We have upgrades can make you a really really nice when we can put two containers Rayner's together so instead of three hundred twenty square feet you have six hundred forty or we can even go nine sixty so we can design and build custom built for people. The idea is that this is the is the flexibility the major flexibility comes from using one container at one forty foot or one forty five foot container that we can you know we can have you can you can have delivered wherever what we're going to have in the in the Delaware it's going to be we're going to have annuals. The walls semi annual monthly lease rates will have nightly lease rates it's going to be they're going to be very nice very those. You'll rant but you do you also the purchase the containers to is that an option as well okay so there's two different aspects. It's TERR- three there's three directions you can go you can you can buy directly from us. The WHO and the base model one bedroom forty foot containers for thirty five thousand dollars ready to go and we'll deliver it anywhere in the Permian in the Midland Rector county the area which is cheap if you think about I mean compared to what you're GonNa pay to buy a house in in the trailer. I mean even if you WanNa buy what what we're what we are building for. You is comparable to seventy thousand dollar travel trailer and so we've got much sturdier. It's the the unit's way about twelve thousand pounds a piece so you don't have to worry about them blowing away or anything like that their their steel rodent proof. I gotTa have cockroaches unless you let the cockroach in yourself right. They're not going to go where to draw. You know Dick through the holes. One of the most popular model has sliding glass doors in one end and sliding glass doors in the middle so we'll patio area that sort of thing. It's just you know it's it's not a fancy place to live but it's very functional and very very comfortable and it's an answer to one of the biggest problems that we're facing in the permian right now because as as you know we hear some of the major corporations are involved with the Permian strategic planning or priority midland. That's on the that's on the hot topic list right right. There's housing so you really are addressing that problem that we are faced with and not only for the oilfield. It's also as you mentioned teachers and for law enforcement as well this yes and I've been both Jim Jimmy Jimmy. Jimmy and I've talked to a lot of gyms. Jimmy's in James Drake here there you go. That's why you got it. That's great but we are in talks constantly with breath city council city government private industry school district where we want to. We want to make a difference. We don't want to just take our workforce workforce housing and make a lot of money in workforce housing because there's there's definitely the profit potential there but we all three come from the give back metality and just like I was telling you before I was talking to this group of people that want to put together a sober living facility well. You've got a sober living facility. The people coming out of Rehab are going to be able to pay you know fifteen seventeen hundred dollars a month for a place to live so what we're trying to do is figure out an entity and find the people that are interested in that type of that type of help helping people that are interested in putting together a facility that can help these people that are coming out of rehabs and they're you know they're trying to. They're trying to do their recovery but there's no way to. You know we can't make kind of money. We can all feel but we want but it's important to me. It's important that Jim Jimmy to be able to provide that that level of help in the community and we're working on some projects and plans for a way to your teachers can have entry level housing here same thing I mean police officers officers all that badly needed and it's it's a complicated issue. It's surprisingly complicated issue. You wouldn't think it would be but it is it is it is there's a lot of factors involved to be able to do something. You'd think you'd be real simple. Let's put some containers to go. Let's find a piece of land in town. That's empty ninety and do the project for as low a price as possible so that we don't have to you know we don't have to charge out the Wazoo for people to be able to live in something like like that but it's not it's not easy and I'm not gonNA. I'M NOT GONNA point fingers and I think everybody who knows anything about the subject. Matter knows where the fingers need to be pointed waited but I'm not going to point fingers at this show and your show. I'M NOT GONNA. I'm not going to be a lightning rod for you the number one question that people have about a container because I know we have a lot of you know we have a lot of business owners that are listening and and companies and this this may be something that could address the problem that they're facing. What's the number one question the the number one question I get and you're going to think this is funny and if you think about it I mean I don't know why AH don't they get hot inside people right? They ask that well of course it's a steel box right. We also put two to three inches of insulation Russian inside the box in the wall so you're going to have we've. We've fully insulate them so there's so we actually are units. Are we have a forty foot unit in it forty foot by eight foot wide unit those cooled by Wendy in it. Okay I was that was going to be my question is is there air conditioning. Yes okay so there is air heating sitting there is air. It's just like it's like a camper trailer except to a little more efficient. We are a little better insulated and camper trailers. Are that sort of thing so but that's yeah that's usually the the number one question. How do you keep them? How do you keep them from getting hot inside okay? That's that's that probably the next question number one question is so. How much do they cost? Everybody wants to know what the cost is do you can. I Buy Them Carolina that sort of thing so options. We answered earlier options. Were you can either buy from US or lease them from us or we will. You know we're in. We're in the business of putting together facilities. We we call are we. We we call them. Tom Workforce Housing communities because God bless target logistics command camps have a bad reputation I have there. I don't know they're probably not as bad as they used to be but we don't WanNa wear not building main camp. Were put where we've got some. We've got some significant differences in what we we do. That's a little different from the target or the. I shouldn't say that her name pardon me ask that company. Those companies differ other option yes this. This is a separate option we do we offer a little different environment <hes> than than a lot of the other workforce housing companies. Do you've been in west Texas. Is this your whole life. We mentioned that tell me how have you you managed the highs and lows of this industry and it through the Oh crushing panic now. There's a truthful answer when the price of natural gas goes from fourteen dollars an emcee F- to four am uh-huh. CF in about six months then you go what I'd to be true I diversified were part of the reason I'm in this business assist diversify from the directly from the gas business. I wanted to get into something I have rental properties in other parts of the country have other businesses that are not directly tied to the oil and gas business and that's that's it I mean I have written. I have written that roller coaster. I mean I've I've watched my income go to you know fifteen twenty percent of what it was in less than you know in a matter of months so after you do it a couple times you know what to do. You know how to you know where you can put your where you're with things to protect yourself. You know you always have cash cushion. You try to find things that are replicable in other areas. He is I mean I really was when I got into got into the COMP- container business. When I started working with shipping containers I was actually looking for our projects in other areas outside of the Permian Basin outside of the oil gas business because Chris you know as well as I do if you're in business business in anything in Midland Odessa you're in the oil business? It's you're you're not I mean you. You may have a restaurant but you're in oil business or you. May Have you know you may be selling and clothing. You may be selling workload but you're still in all business. No matter what it is you are holy. Seventy percent of the economy and Midland Odessa area is is related to directly related to or very closely associated with the oil and gas business so you can't do anything here and not be in the oil business diversify hi after the panic what you really want to do is diversify before the business tools that have helped you you through the years to get to this mindset because you you like. I said You you've been very successful. You've built some businesses and seen it all here. What has helped you the most? I I look for good people. It's all about the people everything I've done. Everything I've done that has worked has been directly related to the people have been associated with everything that I have done that has crashed and burned has been directly related to the people involved and I guess you have to you have to say look so you know who's who's at the scene of the crime every time and that would be me but I just I I've. I've gotten pretty good at pulling people in the right people together and and building good teams and that sort of thing it's everything is a team effort so I try to. I try to build a good team. I try to make sure everybody on the team knows you know who they are what they're doing all the all the particulars and they're and they're having as much fun as I am. I guess another thing is fun if I'm not having fun I'm not doing it awesome. Some what about the Permian. What is it that you love about it? And how would you encourage others to come here. Oh Man Permian well Midland's home. I mean I've lived here all my life. I've I've lived in San Antonio. When I was getting my education I actually one of my other endeavors? I ran a mining company in Salt Lake. City solid city is a beautiful place. Don't get me wrong and it's really it was really fun and I love to ski that sort of thing and I enjoyed it. They have these things called mountain mountains and this white stuff called smell but we I guess midland hope and is always has been. I can come in and matter what I'm doing. where I am in Midland I can always go somewhere else? I can always go to fund and the Environment here is unlike any place else. It's changed the Olin born Kale. All business has changed over the past fifteen twenty years. How what what have you seen when I've been when I in the eighties eighties and nineties could put I could take an invest in you know <hes> project for for less than one hundred thousand dollars I could buy ten percent of the project act but then pretend percent of a deal and turn that into significant money a lot of money and now one hundred thousand dollars won't get you won't even get you a look? I mean it's probably one of the reasons why diversifying into other areas into housing area. I'll touch on that here in a second but I used to could could Houston I I used to could Texas. I used to be able to invest in projects with friends of mine in the oil business I would either that'd be an investor. You know my my family's been in the in the exploration and production business we own royalty in a lot of places we own surface in in a lot of places and we had our P company and operating company and we operated worth Texas in southeastern New Mexico. We got out of the operating business in the eighties when the crash happened in the eighties but it's just for for a guy getting just coming in here. That doesn't have a whole lot of money. It's really hard to get into into the operations into the end of the deal into the deals compared to like say fifteen years I mean it's you know if you want to if you want one point in some of these deals it's GonNa cost you a million dollars and it's just you know that's pretty tough to do. It's just really really tough to do you know the the way I look at this. I was talking to a friend of mine the other day about about the analogy to what's going on out here right now and the gold rush the California Goldrush the forty niners most of the people went out to search for gold didn't make any money they were broke. They got out there and couldn't survive. They had to come home or figure out something else to do. The people who made all the money where the guys who sells the picks shovels and pans and leave is and all that sort of stuff people who supplied the material serial style for the gold rush prospectors are the ones who made all the money so I look at that now I mean the guys that are making the money I mean the guys with the project so the Anadarko the oxy's the exterior does Mobil Exxon Mobil. They've got millions and millions or billions and billions of dollars to throw around I yeah I can't play in that league. I just can't so what can I play I can I can build houses four Exxon Mobil an xt Oh and those guys I can put their house. I can put their employees is up and I can give you a better product. Make your employees happier makes them better employees and makes it's them more productive employees and that's what I want. That's what I WANNA. Do I wanNA make these guys you know I see these guys that drive from here from midland talk to the Delaware to Orla mentone to Delaware Besa and it's an hour and a half drive there then they're working for eight to ten hours and then they drive an hour and a half back so I mean that's a that's a eleven to thirteen hour day and they have to get up and do it again and how many I was talking to James Beecham at Mottram we were having we had a big conversation about how dangerous it is to be on the highways because these guys they don't have a place to live out there. There is no place to live there. No place I eat match where why my company is putting is planning to put a facility out there so that we can these guys you know it'll be. They'll have their own place. You'll be their own. Call it a tiny tiny home. It's not the tiny home that the part model homes but it's similar there are a little better they're bigger they're more stable that sort of thing but it's a place they can go and lock the door and be and be away from the world from turn the TV on to other Stereo on whatever it is not be on the road for four hours a day. That's right that's right. I think that is a great point because that's now solving two of our issues. In the Permian is the roads you're keeping off the roads. I was in keeping him safe and then housing so really two two two of the big four so hats off to you and your partners. This is a fantastic company. Do you have any advice that you would give to an entrepreneur that is just either moving to the basin or maybe he's on a similar journey. Is You any advice that you would give to them. Mario Dan I have so I have I have stepped on so many landmines in my entrepreneurial career. That could be a whole nother podcast but just make sure you know what you're doing. I mean I got into the container business in the example. Is I got into the container business. I thought it was cool and everybody's going. Hey that's a great idea. Everybody's just pushing pushing. Everything's working but the thing nobody the thing nobody told me and that I had to understand. I had to find out for myself. Was that empty containers tamers way nine thousand pounds a piece. You can't just jerk you can't just get a pickup truck and jerk around that sort of thing you have to have a crane or you have to have a big Edberg forklift. You have to have heavy equipment to move them so moving around is great and it's wonderful and it's really easy if if you have the right equipment and that's so I didn't know that and so I got into the business and I had to figure that out for myself so expect ups and downs the most people think that most people look at an Entrepreneur Ansi C. see them driving the the Nice car allow into it they don't into it's it's tough. It's yeah I work every day. I'm sick. I should be retired now. I work every day I I I mean I worked seven days a week. Some I don't work as much on the weekends. I do take some Nice vacation. I can't get away but it's work and there's no security understand. If you're going to be an entrepreneur you're going to have you're GONNA have failure. We'll face you and you're going to have to there's. There's no guarantee if you've got a job at least know that if you work what your what your employer wants you to do you're going to get a paycheck and you're probably GonNa have benefits. Are they gonNA necessarily so in the entrepreneurial world but I wouldn't have it any other way awesome anything you WanNa add when you knew your coming into this podcast asked and you're thinking oh I hope I get this out about either your company or your journeys or anything that you'd like to share. You asked me a question a minute ago about why the Permian the environment firemen out here is more entrepreneurial than any place you can go the it's. It's not the wild west but it it's Kinda. I mean it's if you have the desire to do something on your own if you have the abilities if you have if you wanna WanNa if you WanNa if you WanNa make your own mark you can do it after it's tough it's hard it takes work. There's a lot of things that have to happen but the the environment amount the attitude that to the people out here is is is making happen. Go do it and make it happen. It's a it's a never quit. Never say die. I I will succeed or I will die trying attitude and it's not that way and most of the rest of the world have been a lot of places and there's a different. There's a different different mentality out here and you have to understand the mentality but if you have that mentality of any WanNa make something happen it can you can do it out here on the Permian Basin. I couldn't agree more. We wish you much success with Jay cubed housing. Thank you so much for sharing your story and for sharing what you do we appreciate you. How can people find you on Social Media Jacob Housing on facebook? Our website is West Texas housing DOT COM or J. Cubed housing dot com but I got west Texas says housing DOT COM which everybody should be able to remember that one of my offices are here in town. You've got my card over there with my number. That's the one I'm thinking about uh-huh six eight seven fourteen thousand eight extension one. Oh one of my direct line is six eight four four three zero five. We got on Lincoln. You're everywhere we're on link. Dan and we're getting ready to be on everything else. We we've got an instagram account. I'm told we have an instagram account got a young lady. WHO's helping me with my social media? I don't know which one it is or where it is but if you do a search I'm sure you're gonNA find J. Cubed housing. I'm sure you'll thank you so much Jim. It's been a pleasure spending this time with. Do it has been fun yeah. I'm so glad you enjoyed it. We enjoyed it too and I just I love hearing from someone that's been here in west Texas her whole life because I feel like you have one of the best perspectives on it because you've been here so long and for you to love it as much as you do and to share that with our listeners. I think that's fantastic so thank you thank you thank you. I is wonderful. We'll come back anytime okay. You got it. We'll have we'll have to take to another day that sound well. Thank you so much and I want to thank all of our listeners today and I want to announce today's Today's community. MVP So our MVP this week is midland independent school district. They recently opened a first of its kind here in Midland congratulations to young women's Leadership Academy. They opened their doors to one hundred and sixty two young ladies this week. I know I'm screaming to. I'm so excited for for them a special thank you to ex- Te'o for supporting this amazing school. This group of ladies is under the wonderful leadership of Jennifer Siebert. I know her her. Her staff are passionate about the school and educating these young ladies. We wish them much success in the new school year and happy back to school for everyone here. You're in the Permian. Oliver Educators are students and of course our wonderful law enforcement that is protecting our community. I hope everyone has a fantastic school year another special thanks to our sponsor Baker Hughes. Ge Company inventing smarter ways to bring energy to the world. That's it this concludes the episode of Permian Immune Perspective the story behind the oil and gas leaders in the Permian Basin of course remember my motto dream big. We actually added goal big in there too and believe believe in yourself you make it a great day and here are the events on deck for August two thousand nineteen the oil and Gas Conference the Eleventh Eleventh through the fourteenth at the Western Denver Downtown. Sp Subsea well intervention thirteenth through the Fifteenth at Galveston Island Convention Center in Galveston Texas Oldfield helping hands summer pistols shoot August sixteenth at Texas Gun Club in Stafford Texas of course sovereign Apes Coming Up August twenty first through twenty seconds at the George Brown Convention Center here in Houston Texas the is a DC Wall Control Conference which is the twenty seventh through the twenty the eight at Moody Gardens Hotel in Galveston Texas all gas happy hour in Tanzania August twenty third six to ten PM at the Best Western cbd the the Hotel and Dr El Salaam Tanzania a PG. I C E two thousand nineteen. We'll be held twenty seventh through the Thirtieth Thirtieth at Hilton Bonus Heiress Hotel in bonus errors urging Tina held of course twenty seven hundred thirtieth. US base souls and Lubricants Summit that will be held the twentieth through the Twenty Nineth in New Orleans Louisiana and then of course the Denver happy hour which will be launching August twenty ninth in Denver Colorado at Liberty Hall of services
"It's the greatest fraud you've never heard of. Hbo's New Documentary Series Mic millions uncovers the CON. That allowed one man to rig the results of the McDonald's monopoly. Game for over a decade from executive producers Mark Wahlberg and Stephen Levinson the riveting. Six part series goes deep into the scam that resulted in over twenty million dollars stolen from nineteen eighty one to two thousand one find out how a single tip to the FBI led to an undercover operation into dozens of participants all tied to a mysterious ringleader known as Uncle Jerry through firsthand accounts from the schemes major players unwitting victims and the agents who cracked the case. The full story behind this epic crime in plain sight is finally revealed. Watch make millions Mondays on. Hbo and subscribe to the Mkx. Millions podcast for in-depth discussions by the directors and special guests after every episode gangster capitalism listeners. You're about to hear a preview of boomtown. This new podcast available now is an eleven part series about the biggest oil boom in history. Boomtown takes you to a rugged corner of West Texas where roughnecks and billionaire wildcatters are fueling a boom so big. It's reshaping our climate. Our economy and our geopolitics. You'll get an inside look at the people cashing in and those whose lives are turned upside down boomtown from imperative entertainment and Texas monthly. Listen for free on apple podcasts. Spotify or your favorite podcast player or by visiting Texas monthly dot com slash boomtown. There's a stretch of road in a remote oil rich region of West Texas. It's two lanes flanked by barbed wire surrounded by prairie tumbleweeds and cattle loiter along the fence. Line it's a kind of road that's inspired a whole jukebox. The country songs. At least that was the case until a few years back today. It's a different story. That two lane road is the nation's and perhaps the world's most critical artery for crude oil officially it's route two eighty five the locals taken to calling it something different. I'm sure you'll hear that referred to as death highway. That's how it hell today. Route two eighty five. Looks like a scene from Mad Max. Fifty thousand pound trucks barrel through day and night. Overwork drivers use him. Fettah means to stay awake. The road is crumbling with pot holes the size of VW Beatles no stretch of American asphalt is more dangerous. Ambulance storage is just a few blocks from my house. And every time I hear it I go. Oh my God don't let anybody be the reason for this. Transformation is simple. Boil this region of West Texas known as the Permian Basin is in the midst of the biggest oil boom in history. The Permian Basin is the epicenter for oil and gas production in the free world. This unprecedented production has transformed the region from a depressed desert into a land of opportunity and plenty of havoc along the way we are really threatening to choke. The goose lays the golden egg. I hate to say about a lot of time. Safety is the first thing that sacrifice when it comes to cutting back on expense to the except there's climate change. That's not really our fault. It's worded providing what everybody needs. My name is kristen walls. I was raised in the Permian Basin in a small town called Andrews. I grew up on tells of the regions and legendary booms and busts. I even spent a year working as a roughneck in the whole patch after college. But I've never seen or heard of anything like this against all odds. The Permian Basin has become one of the most important swath of land on earth. The boom is reshaping. The world's climate economy even our geopolitics. We are now the number one energy producer in the world. And I'M NOT GONNA lose that wealth on dreams on windows' yet few understand this place or it's people. This is a story of roughnecks roused abouts of billionaire wildcatters and wannabe dreamers and full on Hellraiser Band of average folks. Just trying to get by as the world around them is turned upside down from Texas monthly and imperative. Entertainment this is.
Crude Oil Down to 21 Year Lo
"You're listening to the news at this hour on Africa business radio the price of US oil has fallen to a level. Not Send since nine thousand nine hundred nine as demand dries up and storage runs wants out the price of a barrel of West Texas Intermediate's the benchmark for US oil dropped fourteen percents to fifteen dollars. Sixty five cents in Asia trading on Monday Brent oil benchmark. He's by the European and the rest of the world will slightly weaker down zero point. Eight percents to twenty seven dollars. Eighty seven cents a barrel. The oil market has come under intense pressure and dynamic with a huge demand. Us storage facilities are now struggling to cope with a glut of oil weakening prices further. That was the news. At this time. On Africa Business Radio you can continue to listen life online at. Www Dot Africa business radio DOT COM OF ARABLE APP. Thank you for listening.
Morning Brief for Wednesday, September 4th
"Are you hiring with indeed. You can post a job in minutes set up screener questions than zero in on your short list of qualified candidates using an online dashboard get started today. Ed indeed dot com slash w. j. That's indeed dot com slash w. s. j. I'm marie for totally for the wall street journal. We're continuing to follow hello dorian as the storm makes its way up. The eastern coast of the united states. Dorian moved away from the bahamas on tuesday after making landfall sunday killing at least five five people and damaging or destroying thousands of homes for the latest on the storm's path. Please head to our website w._s._j. Dot com a man who went on a deadly. He's shooting spree across west texas on saturday had been barred under federal law from owning or buying firearms because a court had found him mentally unfit that's according to law enforcement officials authorities are looking into whether the gunman seth tour bought a are fifteen style rifles used in the attack through a private sale. Seven people bulwer killed and walmart. The nation's largest retailer says it will stop selling ammunition for assault style rifles and handguns after two deadly shootings in walmart stores last month. The company had stopped selling assault style rifles in twenty fifteen and last year raise the minimum age to purchase guns or ammunition to twenty one and wednesdays economic calendar brings motor vehicle sales for the month of august and the commerce department releases international trade figures for the month of july. We'll also the federal reserve's beige book for the month of august which provides anecdotes from businesses across the feds districts for more details and to our website wsj.com or the w._s._j. App indeed used by over three million businesses for hiring post a job today at indeed dot com slash higher.
Encore Permian | J.D. Smith on Oil & Gas Startups Podcast - OGS063
"This is the oil and gas startups. podcast where we showcase emerging technology in the stories of industry founders investors in leaders with your host Jay Corley and Colin Macleod. What is going on digital well? KANTER's welcome back to another episode yesterday as podcast. It's the day after nape tired or here. We've got a new friend. Jackie Smith CEO of encore. Permian thanks for being here but thank you guys for the for the invite and the early morning early Friday morning. Only guys up driving into the office. What we schedule A podcast or eight? Am this is ridiculous and apologize. Everyone listening my voice probably sounds I mean. We had Wade Bowen plane last night. I'm sitting there yelling at everyone just having normal conversation station so my voice is shot. Everybody who made it out man. It was it was a great party. huge hats off to detract for taking the lead on that and getting US involved and tracks database database. Who else mineral wear were main Man It was fantastic huge thanks to Wade Bowen for plan Iraq the House so Looking forward to doing that again next year. Yeah absolutely so JD. Tell me a little bit about encore. What do you guys do so On course kind of a small little a private equity company. We started a couple of years ago and Early twenty seventeen kind of got the ducks done with a capital provider out of Minnesota. Okay Minnesota SORTA interesting the soda. Great Guys They're kind of generalist fund and don't have a ton of oil and gas exposure so is a pretty nice little feed we We kind of have to companies with our one company there in its mineral acquisition. Kind of group get guys who are calling originating getting that getting a deal done on the on the ground but also you know we kind of had that The lease game in the least game was really hot. That's kind of my background there. So okay putting together a bunch of treks rex. Get them and flip them. But then but then that's Kinda dead now so yeah. We recently got to try our hand. we we. We got a we back to our provider in a got a little bit more capital and hold off about a pretty good size asset for us eight thousand acres all blocked up and we we get to our hand at drilling on that one so Pretty exciting but just so the smallest peba companies out there so you said that you have to try your hand at drilling so is that a is that a transition and actually operating assets. Yes so we always we always kind of would operate so we'd get those stripper wells or whatever never was hp out there in the middle of base in the Delaware Basin Putting together tracks. And we weren't you scared of that What was new though is going after horizontal little development? So it's been a goal of mine for Twenty Years Shade under twenty years in the industry. So Yeah I've always wanted to lead a group get a group together and so we got a We got to Jill our team together very cool. You'll do it and everything I mean so far so good awesome. So let's talk about your background and what led up to this this point. So how'd you get into the industry. What's what's your background from a technical standpoint so so it's a lot like yours is actually yeah? Graduated graduated out of big spring another West Texas guy. Yeah in two thousand and I thought I wanted to be a pilot so we get that old airbase out and and and there was a there was a guy I think Norwegian. He was given flightless for cheap. And there's a reason for that. His planes kept catching on fire. So so this is a Norwegian guy out in west Texas given flight lessons on some cheap. He'd he'd have a bunch of guys from West Africa Gabon. Cameroon Sri Lanka either and And then me and I thought well I got I got to pay for this. I was this is gonNA come out of pocket and this was like man. I'm going to go offshore on a drilling rig approach to. That's great two weeks on two weeks off so I got a list first off the Internet you know back in two thousand it was dialup. Still up there and I had one hundred something names of vice presidents of human resources in their their phone number so I started going down the list and I'm like you know I heard diamond. Offshore was looking for a good hand. It just really kind of getting Eddie Haskell. On you know sounded like a good boy you know hey hurt. SLUMBERGER was looking for its slumber J.. Clip it's been like three episodes of the last five or six people had similar story like Schlumberger Slumber J.. It's crazy as you look at that word. Go down a list and hit that that was like a right of passage to get into the oil business. I gotta say slump slumberger one time. I should it known better growed up in West Texas probably heard. It just didn't know that was yeah. Yeah with through that list and you know get a few applications to fill out now. Those applications just ruin called me back and talked to that lady and we went back and forth a little. She's like you're you're kind of young. I was just turned nineteen and got on that drilling rig and it was the Charles Ruin Jack Up Rig and I'll never forget my first hitch out of there we. I'm driving down and it's it's a helicopter L. A. Copyright Out South Louisiana Cameron Louisiana. And I get there at like three in the morning to make my seven. AM flight and you know the cockroach comes out out of the sink at the hotel we were pulling through town. Have you ever been to Cameron Louisiana. This is the end of the world. Right there's a man you you know. South Louisiana is a foreign country. It is a different place. It's actually the only place I've ever been anywhere. We have to sign a waiver at hotels. You're saying I will not foil seafood in my hotel room. Where else in the United States can sign a waiver saying that for a hotel room there was an s ten pickup? Never Forget it at that a convenience store until the only gas station in there was like an old recliner in the back of it and there was a grandmother had to be three hundred pounds in the back of their sitting in the two. Mike what these people do. Maybe they're shrimpers. Just thought who am I what Spend a Lotta time offshore as well and so just flying out of you know South Louisiana dishes. I mean one. I think it's kind of like depressing. You had like you said you wake up at three three. AM either for five. AM flight like you don't want to be there. You know carrying your one or two offshore bags and sit there with check in and just like I don't it's just a certain certain type of feeling brings back bad memories. You're you're hitting that Reagan in the smell always got me. I guess from the Galley Ali. But I I I got on that rig and I realized like I knew I was born. Oilfield Trash me in the Charles road had the exact same birthday August twentieth nineteen anyway I got a man. It's a sign I might as well not even try to get out of. This industry tried tried my hand at that. It was It was pretty good. I made her updike pretty quick but Few months into this ridiculous. These guys are crazy and This this boat came up to our rig rig and we were doing a FRAC job and these guys come out Set the basket on the rig and they hit it just as big team they are all these big guys like thirty five years old and what you guys do and they start telling me about fracking. How do I start to work with y'all and just happened to be there was There's one guy the kind of fluid tech attack had got he was from Midland Texas Richard. Pitzer Hawk Really good guys and I think midland was you you know in the State Championship at that. Time Yep Yep so he's like what. Are you doing here because there was not a whole lot of West Texas guys. Maybe like it's odd. At first. I mean he said that you grow up in big spring and the first movie made was to go offshore. I mean it doesn't make a lot of sense in you. Have Noel field right in your backyard. Right yeah but those guys are really crazy right money. Buddy wasn't as good. I wanted us to yeah. Yeah you can't beat that two week rotation so you see these guys come on Then that that got your your your interest kind of peaked in what they were doing and so what happened. They So they gave me a a number in the office call in Lee Kilpatrick think. He's he's actually midland. Now Sign Up Lincoln but I just wore him out like hey you gotta give me a job job this coming. It's called Oscar. They had to FRAC DOC boats in the Gulf of Mexico and went down in Brazil. You GotTa get me on. Let's do this and I think it was still nineteen at the time he He he brought me onto ethic. I'm the youngest this modern day. Franken ever because all the other companies Haliburton Slumber J. How who else was out there? There's somebody else out there that you had to be. Twenty one honor you gotTa be twenty one on land. Yeah I feel like I kind of got that title out there. Nobody's been able to anybody modern day. Ah something probably happened. In the fifties he's But did that in man. I love that work. You got this crew environment It was still really old school like the first day on the boat. I go down there and this legal patrick. He gave me a envelopes. Don't read it handed to him and I later found out like years years later. My trigger told me yet. Said we're his ass out what they wanted to see what I was made of but I get on there in This one guy from Graham Texas. He's he's he's says you know I was just talking trash trying to trying to fit in. He's like you keep popping off like that and I'm GonNa Roll. You Ain't GonNa do anything anything y'all my turns back to the galleys guys in. I mean in one minute they had me slammed on the deck duct taped up put my boot off dictate to my head in strung me upside down on the second hand railing of the of the okay a step back a little quit talking so much trash. It is so funny. They did that to me on my rig to when I turned twenty one for my twenty first birthday they strapped me down duct tape me and then put me up on a wall fucking friend strategy that at my My party all of a sudden we're sitting in the lights go off and WANNA get. Bum Rushed by eleven days. So it's a No. It's funny because when you're telling the story like I'm thinking about back in my days on the rig and it's funny when you're roughneck you're always looking for what's better i-it's see all these service companies coming on. I remember I'd see see mentors. Come on the rig wireline handsome man. These guys don't do shit. How do I get get it clean? How do I get a job like that? Yeah I'm covered in mud. It's been busting my ass job like that and that's what actually led me to getting. wireline was once I turned twenty one and I could get my CD. Yeah private truck house out of there. I got off the rigs. So it's funny to you know I guess that's probably just all roughnecks always looking for the next move so yours is frat you've got into that. So how. How long did you work on the floors for rigs sunlight here about seven or so months in maybe be five on the floor for on the floor or something like that and not a lot of people? Don't have you know Ostro Communities Pretty small right. So people aren't familiar with offshore. But a Jack Up Rig rig is essentially just a really similar to land rig on steroids. You know they've they've got a deck and it's a little bit bigger but it's very comparable to land rig and I'm sure you know back in early. Two thousands Land rigs there is now right got their CRESA Gracie fucking these top driver as you here in the the drillers cabin is the size of this room drilling like man. This is fucking wild because I broke out on little shitty Kelly radio you know like I feel like I was like the last of the old school rig breeds. And it's very much how this Jack up rigs were especially early. Two thousands I'm sure so When you got into fracking you know what what happened? After after that. What what transpires though I really liked the. I loved offshore so I love the rotation my wife and I got married she she. We were high school sweethearts. We artsy was nineteen and I was just turned twenty one when we got married but We just like the life she she was WORKED FOR DEAD In their restaurant there in town so she worked a whole lot while I was gone and then we often Texas country music scene was coming on and we'd get out of town. We lived in Snyder Snyder. Texas I'm being all our friends are gone. They're gone to college. We were bored but I mean it was. It was kind of a great life there for a long time but always wanted to kind of advance and I always want to international so I guess about four years into it. I really started trying to put my feelers out international international And I got in with Baker oil tools. They had this group called the gap group and it was really cool. They had kind of like the model was like special special forces of it was like we had to say that the heart so we'd have succeeded equipment in it. Could it was built on a shipping container kind of ISO type type skit in. I mean we would just be anywhere they helicoptered into Columbia jungles. We'd We'd put a grid down and put it on just some work boat in Boho h China In in other places like that so I got to get to go to In China and that was that was really interest for that's an experience and offshore. It was so crazy All the last company that I worked foreign venture global technology analogy They run expandable casing and before the downturn. They're doing a lot of work over in China and it was onshore and one of the guy said he lost lost thirty pounds in a month. Because it's not like you're working in Beijing you're working out somewhere in rural China and you have no clue what the food is. And he's I just didn't eat. It just didn't eat. It was crazy. Thank God for the Cajun's they brought a huge deal Louisiana hot sauce still a tiny sachets and we just we get the race that was easier than just pick a gravy like it was. It was wild one one of my buddies. He he pulled a chicken head out of there and I mean it was be gablers blur feathers everything. Everything and I I ran outside. Hit The handrail. Just junkin like it was so bad so funny though like everything going on with Krahn Virus I people talking about you know Chinese cultures much You know the crazy shit right. Everyone them eating bats. Go back to South Louisiana. It's like these guys Squirrel Gumbo with the school head. And that's not normal. Might not trader said the best fight he ever saw. Two Cajun's is fighting over a turtle in the road. Certainly become super so like okay so I go on a platform. It was a Hercules rig and energy twenty one was The operator in both of these guys filed bankruptcy simultaneously. And so all we had in the Galley was big Bola peanuts first necks. And then like what they were. Cooking is like Turkey Knicks or something can can we just go fishing exactly. So how was it offshore and or was it was the actual rig offshore in China. Was it it was Imbo High Bay and and it was it was a mess. was like a new billion dollar multi billion dollar probably facility and you get on there it was brand new and sinks coming off off the walls like nothing works up to the rig floor in That platformer style. And so it was a nice looking rig but but You get to look around. And there's like one crow crow foot air connection to run. Whatever you need diver pump start your motors? And there's like eight wise on everybody trying to get into that aired so there wasn't enough for anyone that's what that's why when people talk about this Cordova Corona virus are. I don't think it's GonNa work because it's made in China. Sorry that's my bed and yeah but it was. It was just so wild working out there. The maintenance on everything was really tough. You know we. We were always like at that Oscar company. We we had to do everything we had a mechanic or ticker just whatever because we didn't have the biggest budget for maintenance so we were getting things going but out there man it was. It was wild world like just getting a pair of channel locks. It didn't slip while you put pressure on them or just anything like that was was difficult all the time when they'd by By rigid pipe. wrenches honoree they buy the cheap. Chinese shit wouldn't grit like grip on anything. Yes like hormone dies. Exactly exactly how it is and you're sitting there trying to get a bite on something and it's just slipping in your yard. You have a frustrating job in the first place and then when you're told doesn't work properly just makes it that much worse. Yeah you gotta be careful loading up on that with. Let's just say if it's a brand name wrench before I start your put up. Put a cheater pipe on it but so you go international and that's actually a big thing for me when I enjoy adventure because this was in two thousand fourteen and they're telling tell me man you're going to go all over the world. Hell Yeah I WANNA make that next step I wanna go work You know Brazil Saudi. I WanNa see all these different places and then oil fell allows so get the chance to go international. Very much So you got you got that experience you know how. How long were you going off internationally? I think I think we had about a year and a half Somewhere around our time. Our oldest daughter was a her oldest kid was born was two thousand five and I did it for a little bit longer. I I really actually thought I'd I was GONNA move international I got out of China and then all of a sudden I needed to Italy and man that that was amazingly call the weight I lost China. Found it's called palace. Oh it was so do Easter Room. There's a you can a little town piss car in Kona like a little kind of fishing. Yeah old old towns and They were they were drilling gas. Wells out in the middle of the Adriatic Adriatic and it was. It was a blast. It was kind of a unique time. we I was their ally in. I really wanted to get in favor with the the Italians in So they request being I could rotate in and out at somebody and it worked and So at least a year I got to rotate in and out of there My first trip over there it was it was crazy Boss called me. Hey you gotta get on a plane in two hours. The airports our from where I live in so I get on this plane. Get over in Italy. Landing around got picked me up. Get off get over to about three three and a half hours to the yard. And they're like yeah. You gotta get on on behalf like me and my my bag by bag didn't make it. They got held up at the airport. I need some fourteen so we do a frantic search for fourteen to to to go offshore and then all of a sudden it's like extend down. Well the stand down like lasted for a whole two weeks. So they put me up in basically the South Padre of Of Italy early so the locals goes terrible. It's beach town. Youthful beach down in all these restaurants and for two weeks I basically got an Italian vacation in the middle a eastern successor as best thing about offshore. Like I love when jobs get delayed. But I'm already in New Orleans waiting for a helicopter. Ships got it Bourbon Street for a couple nights hurricanes coming back. That's just wrong so little time. Get a natural disaster possessively always. Yeah I imagine a I mean it's kind of a known thing in the United States like we never drill for oil and pretty places. This is right and her places. So it's it's it's not very many entertaining places to go to but I mean Shit you go to Italy. I mean that's all the experience that's right. Yeah that's a trying to tie the story together here because it's it's funny start out in West Texas You go off shore. You continue living living in Snyder which it just kind of blows my mind to be honest because it working offshore and you're not dependent on living in West Texas. It's like why would you. How would you live in Snyder at of all places theorize I know so It's a that's a good. That's a really fair question. I think it was always like family. We get real close. Yeah that makes sense. I figure you know his family. That kept you guys. Is there so you go work international sunlight. You had your oldest kid Sometime during that point is that what kind of brought you did that bring you back. I'm sure I mean kids change. It is sucks being gone for two weeks or a month at a time offshore. When you have kids so is that is that kind of wood? Transitions you to come. I mean trying to bridge the gap between International Talent Beckham. To where you're at now. Yeah so that's exactly what happened my daughter. I think she just started walking. Walking in a Carameli- gave her the keys into standing at the bottom of the escalator. Coming out of the Midland airport. Yeah I'm like that's it. That was that was it. I can't do it anymore. That is that is it so Getting back home. You know things still weren't like that active. I think we're kind of off seven or so something like that. Yeah hidden downturn. We had gas but yeah it was that was about it. But I got an engineer tech position at Kendra Morgan okay. And it was really interesting. I thought well I've got all this field experience. Feel Kinda do they go to operations or something. The I thought man could. I DIDN'T WANNA go to school but cannot become an engineer. Kind of by name you know early by title but got into that and really loved. It had a real good production engineer over me and they made me go through. All these old well falls on the cats field over in a King County or King County out there way out on the eastern show and Learned a lot just to learn that production profile and all of this stuff kept at it kept at it and finally this engineer gave me the best advice. I ever took my life us like. Jd You just got too much bullshit. You need a land man. So what. What is that? He told me that's what they're called. Still you know ready local in in. I guess it was just so so kind of ignorant to the whole big picture picture and I the PPC over Midland. You know they had a lot of classes oxy Smith. He was really good guy 'cause but took off work at and you paid and He would give me a discount. He's like yeah. You WANNA learn so to call the land classes. He got caught in the bottom of the Midland County Library. And that's all just started reading all these old books that were turned like farm out books from the fifties. Yeah he's a checkerboard farm out or far manner. Just kinda learn how deal went and got ETA job with shy interest manner Shaw. He's A. He's a neat guy Kind of He's definitely you know the old guard. He's been doing it for a long time and he he ran his guys really tough he had. He had a good knack for quality but he gave me a shot. Just kind of going in there we were talking and he. I just noticed the at a solemn on his on his his book on his Bible Open I think it was like nineteen one of my favorites. It may not. That's my favorite song and So we get to talk in that. Hit it off. It wasn't that I did all this. And he gave me a job in the courthouse and I nearly got missile fired. A couple of times like running out in it was the wrestler heels area of Culbertson and just missing a couple little details but did eventually pick it up. did really good on the on the courthouse out of the running until I had a two week stint sent a landman. Did she do. Yeah so is 'cause when I worked on the rigs on land us four weeks on two weeks off and so I come. I'm from a family of Landman and always wanted to get off the rigs and my dad and uncle like whole bunch. Come do some contract work for us. You know we'll pay you two hundred dollars a day or whatever so okay cool. So they're Middle County courthouse. You know in the basement going going through records on entitle and I'm like twenty time and I'm like screw this and I'll go back to the rigs like that's my type it's it's you got to get like. I think I was at that point in life. You know when you have kids you you chill out. So I was calm definitely he has still still roughing out at that point so being in the courthouse run entitled wasn't is in Wasn't my scope. I'm a little pissed though. I was at one seventy five a day. How'd you get two hundred? I guess I I don't know which said that was just good negotiating on my part but I was just what I was offered. You just take any in what price was fifty and I probably would have taken it so So you obviously you started getting a lot of experience experience in land and then. When did you decide like when did you decide that you wanted to go off and do your own thing? What kind of what was the genesis of Well I always wanted to do deal. So you're in the courthouse in these deals you read about these deals. Whatever capacity so yeah you just get the and the? This is where I want to go so I tried things like optioned up the graph ranch for zero dollars and you know three months can give me a jump. Shot for seventy seventy five bucks and try to see if I could take that to somebody and flip it or things like that we had. I don't know if you sections slacker county at that. We just talked people into they want the least bonus and still wasn't too busy at the time but Kept doing that in a title attorney and Midland. Really good guy he he would follow behind me to do the drilling opinions and whatnot and I guess he thought I did get enough. Worke made a recommendation to one of his other clients. This little group of Midland store. Only guess so they were looking for wolfberry locations out in the Midland Basin. And you know This Guy Mentor my Jim cauthen. Good guy you're kind of stereotypical typical like West Texas. Oilman right. You had a saying forever. He's a great guy In a in a in a couple of other guys that grew to gary lamb mineral bar from years and years they They gave me a shot. They interviewed me and said Hey just go out there and so kind of open book to look for things over midland map and sure enough found like a couple of attracts got well under sub market. So this is kind of my first shot into leasing. I I was really good at it like I didn't realize I was but we'd get in there and really kind of talk about anything but the lease because they're already wanting to do it and we just we get the deal done so did a royalty rate wouldn't have to pay too much for the bonus money and then I was I knew all the clauses well enough to to keep them. I'm in there and so and these guys told me. Hey if you get if you get it below this you get an override. Well let's just what added to Get at those going and and Gary Lamb. He was working over In the Delaware Basin and hit a lot of mineral interests so just scattered throughout the Permian. So He'd get these offers offers and then he talked one of the groups into saying. Hey let me go out there and lease for you and we'll split the difference on what I can save you so we kind of went out there with that and they put a few million in there ear and they said hey go lease in the permian. So I'd find some stuff north of Paco's or loving yes. Five hundred thousand Acre too expensive too expensive so moved a little further south south. You know kind of in and around. It's got a few ranches here. Two Hundred Fifteen. That's too much. So we basically went into the Alpine high proper. An an put together about forty two thousand acres down there And for a low low price just a few million Petra heart comes in and they're are kind of coming in the Permian Chesapeake right. They just come in in a big way back then buying of everything they they just. We're going to get a foothold. We're GONNA do this so they he came in there just blew it out of the water for like forty two million bucks and say Oh. That's awesome so ahead. A enormous or miss over at over the whole Alpine hide expired. And you know but but we did that. A couple more times and You know what was great about that. What is it was to chiefs and I was Indian and one of the owner? Sun's Kinda came in and was was also there. I was training him. But Man You got to do the whole thing and we made we get to make pitches and stuff like that Just a land manager in jack-of-all-trades and deal so that kind of gets in your blood I mean you just can't get rid of that yet. We did twenty five thousand Acres Northeast Howard County that we sold to some Chinese individual investors. I wanted to get the Permian about fourteen that we did. That and was just really interesting so I got to I. I think I've least up like personally drafted dark skin and a lot of that on about a hundred and fifty thousand acres. Yeah made the land rush on the cline shale and luckily you know I wasn't wasn't in there for the long run. I did hold the bag on a few leases but most part yeah It was just a wild time right that least Russia's yeah for sure so when did you when did you start on core so my My partner right now. destler ends mm I'd set up a manufacturing company and Fourteen so I kind of thought well all these leases are doing anything to buy and I'm a bit of an entrepreneur here so you remember how hard it was to hire anybody or do anything in thirteen or fourteen. Yeah came up with this business. Plan like Labor arbitrage on welding tanks at three hundred ninety five feet in one thousand barrel tank that Anita Weld up inside now and so we Kinda took some off. The shelf seem technology and I had a partner in there who's really great it welding and the processes and I kind of a craftsman type guy on that and We built this this whole company from the ground up just nowhere now welding him up at like forty four four inches a minute. The quality was unheard of. I mean he's all I had to do is get a guy and look at it and you could sell that tank in fourteen. Yeah but then we had one good quarter order and But Thanksgiving Day like it was. It was a dogfight after that was in the business kinda working but I wasn't untrue employee of the managing aging partner so I started a talked to a friend of mine. We we he was on. The board of a foundation started the job for fourteen foundation. We do a lot of clean. Water wells in Uganda. Gonda and we worked together really well just just meshed great. And so he sold executive jets for flight options over in Dallas Fort Worth and he was is a pilot himself so I knew his wife From high school she She was friends with my wife and Snyder okay He moved to midland an and we just started working so he's still sell planes but he just wanted to do minoge all his clients. Were you guys in the in the space and yeah at a natural periodicity so I just kept drive over to get out of the house anyway. We'd look at some stuff to deal and we literally just. I think we put one hundred forty thousand in the business. He he had he had a A legalzoom yovany already and it was called Petra Lima and kind of named after him. He's like how how about we just split this up and use it as they come. Here at work and manages snowballed and and we even we took it on the downturn and we got deals done and founded opportunities and just just really snowballed it. He picked up a really great baking relationship Where we're able to finance a bit of it and Just grow grow grow grow out of out of nothing and I think when we were making their pitch to the private equity group. It's like well put in one forty took that out. Plus some did six million dollars deal had three million dollars worth of property property or prophets are in a in this amount of time and we weren't even full timing coming until the last maybe eight or nine months but things were starting to give more and more expensive so it was really good. Good timing you know mark Bore US yes. He was instrumental in that another. Mutual Friend It's actually kinda crazy. How we how we how we got our first AFO Josh? Best friend in high school in Saint Louis. His little brother was in oil and gas finance him. He sat next to another guy who went to to the Minnesota Private Equity Company. That everybody just knew everybody else. Let some pack this a little bit. Because you've got this private equity fund in Minnesota that's that's committed capital to you. Guys think it's extremely interested in your story because their story is very similar right so you didn't go to college straight out of high school going oilfield most people I mean. Look most people think that you can't do shit if you don't have credentials right. And so I it just super interested in this because to go into a private equity boardrooms. Hey look give us money. We're going to do it and you know they're looking at you like who the hell are. Oh you like bill. Here's who I am. I've done this this this this and this we put in this much money. We've done this many deals. That's that's all they need to hear right and I mean the the the deals they speak for themselves so superstar net and I know a lot of people listening to this will think that because I can't tell you how how many people I talked to extremely smart they have. They have bachelor's degrees but they think that they have to. I'd just had this conversation two days ago with with someone like all you you know. Maybe I'm thinking I need to go back to school for My Mba or a degree in engineering for people to take me seriously. And I was like I just don't believe that's that's the answer. I believe that you can do things that you've done. Jd where you can even build up resume and the results speak for themselves. So I think that's super cool but first how did you guys get in contact with the private equity fund in Minnesota because that's just really random ten that's very strange so pet Cohn our Our CFO set next to another guy and he was the director of their that that put the deal together. So Oh Jeffrey's together Jeffries okay. He just called him up and we didn't honestly at the time. It felt like we were trying really hard but looking back and seeing what capital capital markets are like right now like we did after. Try it all that one was kind of fell in our laps and it was Kinda Kinda interesting to we get just. We're really the entrepreneur. Really Headstrong in our business. So we did it as a JV as well. So we're not a portfolio team of we kinda thought say you're not even you're not even a portfolio company right interesting so they got a right of first refusal on any asset. We bring to them and if they don't take tickets so what's their thesis I mean is this the first oil and Gas Deal that they've done or no. They've got they've got quite a few It just various they don't have a ton of exposure. Yeah a few mineral groups Like a midstream and A non up act but I think I think after that last round we are one of their biggest jams that they funded out. You're so yeah. And we mentioned Jeffries on a lot of people may not be familiar. Jeffries big investment banks. They do a lot of oil and gas gas transaction. So you had someone on the team that had that that investment banking backgrounds. Yeah you know. He's the guy that can sit there and run models all day You had the deal guy right right here you know that that can put together the leasehold and all the all the contracts that are associated with it. So I mean it's it's clear that you guys had a good team mm-hmm behind it so when you went and got capital from this P. E. Group was it. You know a lot of people from what I hear. I've never raised capital for a a big asset like that but I hear the jets have an asset. I the today's climate. You know you can't you can't just go saying hey when hundred million dollars and we'll go find something for y'all L. Situation. Was it like that. You got a commitment I and then went and found assets. Yup GotTA commitment As we were doing the docks we found a nice little. Oh Nana opportunity in Howard County and we actually had a letter agreement to prefund that before we even had the actual extent. Yeah they knew it. It was GONNA be Not One huge deal. But a whole lot of little deals we've transacted on like a hundred and fifty deals in since the found a good deal on a non op if what constitutes a good deal on a non up for you just not on this in the civic deal but I mean on Nana Nana opposite interesting model right You know there's there's just a lot of different variables that go into it and one of the biggest ones is. You don't have control of the asset right and there's not always a clear path to WHO Selling her exiting this at. So you know what in your mind constitutes a good deal for non up so on this one we're renting the leasing strategy. Basically just your purchase price. Yeah can you be well. Below market is the key to somebody else's so we kind of call it trade bait so we're GONNA take this little one sixty and we're gonNA trade and Kanfer something that they don't need and and that was kind of our whole thesis at the beginning is yet these pieces put together these pieces and then start trading and I mean we did two way three way trades like trade these minerals Ever ever hear about the kids that do the stuff on craigslist. The light no light takes something. That's like a twenty five dollar item for something talk on craigslist. That's worth more and they just barter and they see that it's is kind of a challenge and we'll see if they can barter their way into time people talk about doing trades. Actually one of the first ones. I've ever actually talked about you. Hear a lot about transactions but you don't uh-huh trades Trader trader where. It's at for a small group like a set so you that's how you unlock a lot of value right. You take that stranded one sixty that somebody has has is not getting to not gonNA put energy to these big companies swamp. Yeah they're just trying to chase those rigs they can't they can't be too forward-looking on scholar assets like that so I think I think you know capitalism right. We've we've kind of found a place in there but once you get that stacked up to twelve eighty or two huma unit the value payday. So yeah that worked really Really good for a while. We we've got a south up to position that was kind of our first one that we put together. So that's what we're trying to raise capital on right now but Took a non up with some guys like driftwood and they came down there just like blew it out of the park. They they all these great will game of Before it was like is going to be quite a bit more. Exploratory is other results down there from other operators didn't didn't make it look like a great deal but yeah you know Kinda were out there playing on the core of the fringe Walzer eh on those areas like that but find a deal like taken out with Parsley and they drill a well on the east side of their trees ranch. Right it just came to came in great will heck What can we put together here so immediately? Go off set at that and make sure your geology. Still kind of in that fairway or at least you think it's in the fairway. Yeah hard trade those leases but those together and you gonNA. They're blocked put together for for development so just opportunistic. In that way we've done deals feels like mineral deals where we get the minerals in the surface bought the farmhouse because she was just done with West Texas and she wanted out at everything so why we bought a farm so termite infested. Yeah we did make money on it with it was ridiculous to sounds like y'all L.. Strategy is really opportunistic. You know it's it's you started off and minerals Then you get into some some not on working interest and then now you guys are going out and drilling new wells and so is is that is it the strategy evolving or he has going to pretty much. Have the same playbook if it makes sense so I think it's evolving Eh. You know we gotta get across the capital down on on any kind of drilling deal. That's come to to do right now but just go ahead and put those blocks together and really you know. It's it's it's like the Double Eagle model right you kind of grow into into that next segment of what you can do. I remember when we were all out there chasing laces leases John John and cody to lobby data. And get these What they call it? The W. Margarita was extradited to the central and But man they you know they they obviously set that template out there just getting Tons and tons of deal hunting more capital. Yeah I figured host yells capital group too. Because I think that You know it takes a lot on their part art understand. y'All strategy as well and understand hate is opportunistic but there's value to be captured there and I think when you have an operator like you guys match Natura the capital group. That understands that thesis known are John. Donovan has been on our show Donovan Ventures and why I like those guys very opportunistic flexible and they understand that you can make you can make a buck in these niche strategies. So I think that it's a you know. It's a good combination between between both the capital provider and yells obscene. Yeah Yeah No. They've been they've been great I We will probably do deals with those guys for a long time. They've if you hear the horror stories out there now teams that have won in the past him in winning and you get you kind of get a little upside down. Nobody knew that all all this capital is going to pull out of the markets all your SNP energy stocks are less than four percent of the talk of the hedge. Obviously see that. Did you see. See that graphic the other day that the apple one. Yeah Dan Pickering's. I was showing his Dan posted. Did you see it now here. It is right here here man. I wish we had our that is not right. He's rightly it's should not. It's wild so much energy guys you should go check that go to Dan. Pickering search twitter account and then he posted this info graphic in its got the logo of Apple and represents apple's market cap point four trillion. Yeah in and all the all the energy companies one trillion. Yeah so it's got Exxon Mobil contrary oxy fill sixty six hinder Morgan. Like how big apple is to. Its clash the tweet. I did a while back about Ribs evaluation and how they were viable almost every single one of the energy company. No It's absolutely insane so obviously you guys have a good relationship with this group out Minnesota but have you seen because obviously the issue of capital markets has been a big deal. Have you seen the effects of that. Yeah Yeah we've We've seen like you know at right. It's time to return capital. So how are we GONNA do that. On on the earliest the first fund second fund. We're still we're still cranking but later this year. We're probably GONNA run a process on it and see if we can get something done on there. So yeah it's it's It's it is tough. I think every group every not it wasn't as easy as it used to be which sixteen like how I was sixteen easy the price wasn't that great there. Yeah fifteen yeah. I think getting a whole conversation economics but I feel like like if you really look at it. Sixteen who's a downturn but people weren't there balance sheets weren't that distressed point now you get into the point where there's some extremely distressed companies out there. I mean throw a dart and you can hit some small cap. I mean look at Chesapeake 's market cap. It's it's Wild Wild Suhel is I think Max Market Cap was about one hundred twenty years. Six billion. Don't quote me on that with somewhere around there. It was like bigger than Chevron is being even at peak league. It's absolutely insane crazy. What does it lessen let sub two billion now? I don't could be way off but I know it's a No. It's not even a freshman what it used its low. It's surprising. Thank you just going lower so I think you know in the industry right now. Whatever angle you come in from people are are are feeling the effects of it so Jaydee I WANNA before we wrap this up really want to ask you a couple of questions just along your journey you know. We have a lot of people that listened to the podcasts that have that entrepreneurial neural spirit. You know maybe they're engineer at Chevron. Geologists could be a lamb in the courthouse. Is The bit that the number one question I actually I was laughing. I was telling John Someone at this at the party last night. But we have some of the coolest technology come on the show. Some people do an innovative stuff. In our highest performing episodes shows are still are Ian. P guys got this everyone's fascinated. How do you how do you start? EMP Like Jake. And I bought some stripper wells up in Oklahoma People's fucking. How do you do that? And that was just raised. A little bit of money went and did it But you know what. What's your your advice to the people that are looking to jump out? I'm sure you've learned a ton of lessons over the years Do you have anything that really sticks out about what you could have done. Better Etter along the journey or just something. That might be helpful for people that that are looking to take that next it. I don't know I just I knew I always wanted to do this. Offshore offshore fracking and drilling horizontal. This is what I WANNA do. Never ever think it would happen in West Texas but yeah so so you know that was. That was definitely opportunity. The and then Tenacity go after I mean. I got a big chip on my shoulder. Right that degrees still. It still drives me right you got to. You got to go after for that but I think the mentality that really helped me and I mean we we've been married three kids Providing for them and I just had this mentality like I don't work for a day great like after that I deal It was okay. I'm a junior partner like I don't need. I don't need overhead and it wasn't always easy like we've put it together and you'd have to. You'd have to stay in there so I think you gotta you gotTa have your your bills right. We didn't have insurance had two kids without insurance in prepaid. Then they're done that yet and you just like you. Just don't worry about you. Know the things that people worry about. I think that a lot of people get in their way and as far as its entrepreneurs and then just you gotta read a lot of books like the reading yet. A minimum of twenty bucks. And if you're reading fifty books and I'm not talking like Lord of the rings this needs to be heavy business material M. I'm whatever whatever just when you're going to go in you better really know about it. Yeah find some people ask a bunch of questions to yeah thank. Thank you know from hearing your your story. You always knew all along that you wanted to do something right. And it's sounds like you were always on the lookout for opportunity and our late in that I. I mean I'd be out on my rig scrubbing the rig. No one hundred ten degrees out midland Bust my ass. The regional might mental wonder what the economics are voting to wreak. How do I how do I buy a rig this you know? What are we making a day in and day rate you know? I think we're drilling footage at that time so that'd be run. The numbers run upstairs. Make a connection get back downstairs thinking about it again so always always looking for opportunity and always meeting people and always I can't cannot Express Express how important to continue your continuous learning meeting. Gill talking the others. That's what's so great about this show. Is that people get access to someone like you were. They can hear your about your experiences and I hope that it opens up. Someone's is like. Hey we this guy. He didn't go to college. He didn't have the credentials on his resume. He just went out there and pitch. It just made it having money. People will give you many. That's all you need is that I want to make money. And then I think the biggest biggest lie people tell themselves is that they they need to have something before they can do something and then they did that. And they're like oh well now I need an MBA. Now I need this or people are never going to trust me. It's always that self-doubt like feeling like they're not good enough. I think with us. I think we've been a little Sometimes it'd be a little bit overconfident. But we've learned so much from on that and and just never really haven't asked permission from anybody to do anything going out there and just getting it done you know and I think that is That in the continuing any medication. Obviously I guess just known for forty five minutes and I could tell the landman side of things and you know how to talk to people help you tell the story and I think that is probably significantly played in just your networking and stuff. Because you know it's still the people business first and foremost yup you gotta have some good bullshit. Jd if anyone wants defined you men are you on linked in Washington all right J. D. Dot Smith in our core Permian Dot Com our website in your your in Midland in Midland town. Guys ever want to hit them up be sure to reach out to him. Great Guy sure that that there's a lot that can be learned learn from Jd from having continued conversations. And sure if you want to do a deal. He's he's willing to talk so that's always never never seen one didn't want thanks for coming on the show. Yes Sir thank you all right guys. Thanks for listening to this show once again We're we're closing and really fast one hundred thousand dollars. We couldn't didn't do that without you. Guys we couldn't do that without a wonderful guest Who really make this show so if you could just take a second and share with your friends your colleagues leave us a rating review? That really helps hopes the sound. Catch you guys on the next steps the.