Melonfeud
I Copy!,,, er,,,I guess,,,ah,,,maybe.
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*my father always said oil needed to be@ $40 per bbl (and this was back in the 70's) later on in life ,on the rare occasions in being around him, I'd inquire how his oil wells were doing (oil was about $11 per bbl),,, he'd say " Oh, son! Yer' mother's oil wells are damn near fixing to put me in the poor house"(I guess it was costing him,out of pocket $1,000 per lease& I'm thinking that was per month& he had 13 producer's at one time) well, when crude oil got up around $20 + per bbl& I'd ask him, he'd said " yer mother's & my wells are breaking out even, so were good",,,well, about the time oil hit at around $40 per bbl & I'd asked him, he'd statedI know a thing or 2 about the Energy sector. This company is one of many struggling E&Ps. Jerry bought it because the company needs capital and he got a good deal. It is a tired story from 2014 the cost of production relative to the cost of a barrel of oil relative to the availability of capital doesn’t work for these firms hence it is a fire sale. Jerry made his fortune on these.
" my oil wells are doing good, why the hell do you wanna know for anyway?"
*straight up truth/no chaser