by toolpusher » Thu 16 Nov 2006, 01:55:20
well thanks for the welcome
my previous experience in the oil business started in kansas and oklahoma. in oklahoma city, i worked on some real nice leases situated within and around the will rogers world airport. then i moved on to work in the permian basin. that place was incredible, oil everywhere, entirely fantastic. one time i was doing a well and we were going to shut it down, but in the very last sample up came a nice show that saved the day, what a stroke of luck! i took a trip down south during the first horizontal drilling boom around pearsall. i did a number of wildcats that were exciting. its really cool being out in the middle of nowhere, seeing stuff for the first time and not knowing in many ways what to expect. these are the kinds of situations that demand you perform at your highest level and always have your wits about you. big old thick meaty diamondback rattlesnakes were everywhere, and it was a good idea to check your sleepingbag before you crawled into it! unfortunately, one night while i was away, the bit apparently encountered what everyone was looking for but what few expected, and the crew was not prepared. the driller was killed, the rig was burned down, and the rancher saw a good chunk of his royalty check go up in flames.
i did lots of office work, but it was being out in the field where i really felt i was doing my job. many times i was the only true supervision on wells that had millions of dollars riding on them. being out there next to massive rumbling diesel motors and creaking hydraulic equipment, watching the bit make hole and monitoring all the instruments and samples, working your ass off but still taking time to listen to the radio and savor the moment, those were good times.
now all i do is sit in front of a computer and do research. i am intently focused on the oil price right now. it could be the buy of a lifetime. where to allocate capital, and how to diversify, those are the critical questions at this time. i'm kind of turned off by the oil stocks, to me investing in the raw commodity makes more sense and should give one the ability to sleep better at night. thats probably why i joined this place, it helps me focus my thoughts.
as far as peak oil goes, i think we are there, but the market doesn't recognize it. its funny that the people who control the prices are not always the ones who are the most knowledgeable.
positions in crude, heating oil and gasoline are all too well balanced now. demand is not yet ready to fall. i see this as the calm before the storm.
when will we have to pay the piper? when will the wolf come knocking on the door? well, i think its curious that it hasn't happened yet.