Power Hour | What Makes or Breaks a Deal in a Mature Basin
The best rock in the basin won't save a deal if the bond prices you out or the title only gets you the wellbore.
In this Power Hour, we sit down with Neal Turluck, President at S&S Oil and Gas, and Reed Goodman, President at War Turkey Oil & Gas, to talk about buying and operating conventional wells in the Illinois and Michigan basins, where most of the easy oil was found decades ago and the margin is in the details.
We'll cover:
Why bonding requirements shut small operators out of some states before the first well
The wellbore-only assignment, and why it's a reason to walk away
Chasing thin layers of net pay in the Mississippian carbonates, and how fast they decline
Going back into the Michigan reef fields the majors drilled and left behind