In 2014, with a 95% success rate on new shale oil wells, a clear hint of lurking problems could already be seen when drilling costs caused pay-outs to stretch to 3+ years, …with oil at $100 barrel. Drillers could tolerate such slow returns of investment, only because “money people” were providing abundant long-term drilling loans…
When we consider what our strategies for growth and profitability should be, it becomes important to review the options for making money and to match those to the special skills, knowledge, or preferences we bring to the business. We’ll look at the problems and the opportunities in making money 1) as a land company, 2)…
In Part 1, I discussed how the best way to have consistently excellent decisions is to have an organizational process by which ample and proper information is provided to a knowledgeable and empowered group for analysis and decision. In Part 2, let’s look at this in terms of my trip to Guyana with President Jimmy…
There are numerous ways to help ensure that the best possible decisions are made for any problem, at any time. They include divine inspiration, relying on elders and authority, and a democratic vote. Unfortunately, divine inspiration is provided rarely to most of us; older and more senior staff are not necessarily wiser; and , asking…