30 Apr '16, 11am

Economic Gravity in the Oil Industry: What Goes Up Comes Down: IT’S not rocket science. What shoots...

Economic Gravity in the Oil Industry: What Goes Up Comes Down: IT’S not rocket science. What shoots...

IT’S not rocket science. What shoots up quickly usually comes back to earth. But a lot of people who hold leases to drill for oil on their land forgot that. Clarke and Sally Keeshan, whose income from leases on their Texas ranches fell by 60 percent in the last two years, are an exception. So is John Baen, a college professor who moonlights as a negotiator of drilling leases. When oil prices were at their peak, he said, the 150 wells that were on his land or land where he had negotiated the prices were bringing in about $100,000 a month. Now, he said, the amount has fallen by 80 to 90 percent. But both the Keeshans and Mr. Baen said they had learned lessons from previous oil and gas cycles. They treated the money they were receiving from leases on wells on their land almost like found money. “After 33 years in the oil and gas industry, I’m somewhat familiar with the up and...

Full article: http://peakoil.com/business/economic-gravity-in-the-oil-i...

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