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Heard back from the owner of the company who I'm looking to buy 15 wells from. He says he's open to an offer. So now I need quadruple check all of my production forecasts and cash flow models then put the finishing touches on my business plan and start shopping for funding. Life as an oil baron here I come!
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Jul 17, 2012 22:31
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Hired_Sellout posted:I don't know if this is the place, but I am curious to hear that story... I've got a degree in petroleum engineering and have been working in the exploration and production business since I got out of school 6 years ago. About 6 months back over some beers my best friend from college and I kicked around the idea of buying some low producing wells (less than 5 barrels a day) with upside to increase production with some engineering work. We spent the next 5 months evaluating prospects and trying to find the right opportunity. About a month ago we found 15 wells in Wyoming that produce about 350 barrels per month total. The operator has never worked on the wells and some of them have never even been placed on pump. We've sent the last month evaluating the production and the increase we could see based on results from offset operators. On Friday I reached out to the owner of the wells but he had already left for the weekend (must be nice!). He called me back this morning and basically said to make him an offer.
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Jul 18, 2012 03:49
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After almost 4 months of being unemployed after getting laid off, I got a job offer! Pros: -Really solid company -12% raise BTAX, 17% raise ATAX -Great opportunity to move up in the org since I'll be one of 2 engineers under the age of 55 Cons: -It's in Dallas and my girlfriend of two and a half years isn't in a position to move there with me right now 
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Apr 26, 2013 23:56
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