For the old timers it’s just another rodeo and a chance for us to build in size, we’ll start another drilling program in January.
Oil Bust Veterans Brace While Shale-Boom Newbies Swagger
http://www.bloomberg.com/news/2014-12-15/oil-bust-veterans-brace-while-shale-boom-newbies-swagger.html
And like many bust-hardened veterans in this region — which has made and broken the fortunes of thousands — he’s talking about it like a gathering storm. The ups and downs of oil are a way of life in Midland and Odessa, Texas, dating all the way back to the Great Depression. It’s as much a part of the culture as Gulf Coast hurricanes, and residents often prepare accordingly.
“We’re going to hunker down and go into survival mode,” Stephens, founder of Endeavor Energy Resources LP, said in an interview from his Midland office, where visitors are first greeted by a statuette of a Texas Longhorn steer. “Stay alive is our mantra, until the price recovers.”