:: Columnists at the New York Times and elsewhere said the “Texas miracle” was fading, or even dead ::
What the media doesn’t understand is that the O&G producers aren’t tied to the modern cultural idea of “instant gratification”.
A well comes in and BOTH the producer and landowner have on-going financial (AKA: capitalism) rewards. The media seems to think that if the industry isn’t bringing-in “new, huge” production fields, they are in financial/production decline.
There are wells in SouthCentral Michigan that were opened in 1958 (Albion-Scipio Field) that are still financially viable today, yet are on the decline regarding production.
The media seems to have this “Drake Gusher” mentality when the industry has a “Texas Brisket” mentality...low and slow cooked.
Thanks Thackney.
“The media seems to have this “Drake Gusher” mentality when the industry has a “Texas Brisket” mentality...low and slow cooked.”
love that analogy