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Old 01-21-2012, 11:22 AM
 
206 posts, read 483,695 times
Reputation: 61

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What are some good O&G co's in Houston to look at?
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Old 01-21-2012, 11:28 AM
 
Location: Sugar Land
2,465 posts, read 5,792,835 times
Reputation: 2733
All majors have offices or HQ's here. Shell, Exxon, Chevron, Schlumberger, Halliburton you name it....

Quote:
Originally Posted by calien View Post
What are some good O&G co's in Houston to look at?
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Old 01-23-2012, 09:13 AM
 
Location: Visitation between Wal-Mart & Home Depot
8,309 posts, read 38,779,335 times
Reputation: 7185
Quote:
Originally Posted by mtgmike View Post
BTW, if you are contacted by basically anyone in the DFW area selling partnerships in wells, its a scam. I have no idea why, but these scammers are all over DFW. My old man talked to a few of them years ago because he doesnt think scam right off the bat like I do. I found a folder from one of them, looked like a scam all day. He said it was something he was thinking about. Took about fifteen minutes online to find four or five company names associated with the same principal, and lawsuits on the guy. I guess since he actually spoke to one, they "verifed" him as a contact. I have to do this about once a year when somebody new calls him.

Tangent, I know, but just a friendly FYI.
Adding to that, it's one thing if someone that you trust and who is known to you to have been successful in drilling oil & gas wells contacts you about the possibility of investing in a well, but it's totally another if you receive a cold sales pitch from anyone, DFW or otherwise.
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Old 01-23-2012, 09:45 AM
 
Location: Visitation between Wal-Mart & Home Depot
8,309 posts, read 38,779,335 times
Reputation: 7185
Quote:
Originally Posted by mikeyyc View Post
I don't know the question. The Barnett in Fort Worth has been going for years. Eagleford will be massive. It already is up and going, and it is making thousands of jobs.
The Barnett is pretty tricky these days...

Unles you're in the "wet gas" areas on the NW end of the play, the volumes that you have to produce to get the Barnett wells to pay out is pretty staggering. There are plenty of places where the wells do produce enough to be economic, but if you drill a $10 million well and complete it as a producer that IP's at 5-7 MMCFD (sounds great, right?), you may recover your costs in about 3 years (maybe not, though), but that's an awfully long time to wait before you realize any profit and the well isn't going to be producing at IP numbers anymore so profits will be slow. Drilling dry gas is a tough way to make money.
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Old 01-23-2012, 10:06 AM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,736,420 times
Reputation: 4190
Eagle Ford shale is where the action is at these days, Barnett is old news.
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Old 01-23-2012, 10:16 AM
 
Location: Houston/Brenham
5,819 posts, read 7,233,839 times
Reputation: 12317
Real? Seriously?

Yes, it's real. Yes, LOTS of money. I have one friend, personal friend, who has some bare-ass land near Victoria. Uses it for weekend ranching & fun. UNTIL... the Eagle Ford hit. He now gets 30K-40K a month in royalties & rights fees.

Yes, it's real. Yes, LOTS of jobs. Have another friend with an oil-field related company (makes weird custom stuff for the ends of downhole pipes). His business is triple from two years ago. He's hired gobs of people, and is running 24/7. Almost all of it is for TX oil fields.

Yes, it's real and it is creating new wealth and new jobs.
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