Jack McClendon

“A lot of just, as I said, a lot of the assets that we're targeting are just too small. You know, they're rounding errors on the balance sheets of these large shale companies who are buying tens of thousands or hundreds of thousands of acres and drilling two to three miles under the ground. So it's just, we produce the same product. It's just a very different business.”

“Now we're the largest oil and gas producer in the world. We produce more oil than any company in any country in the world. And so it's kind of gone unnoticed. And so I wanted to kind of get out and bring that up.”

“we've gone from producing you know anywhere from 5 million barrels a day now we are now we're the largest oil and gas producer in the world we produce more oil than any company in the any country in the world and so you know it's just it's kind of gone unnoticed and so I want I you know I wanted to kind of get out and bring that up.”

“The horizontal shale game has largely become the domain of very large companies. I mean, you've got to have scale to be able to operate in that space. We're largely a production company. So the way to kind of think about it is, we buy assets that we think are undercapitalized, underappreciated, try to squeeze a little bit more juice out of each producing well and try to get cost down.”

“our business is a little bit different from a lot of the publicly traded companies that you see you know the the Exxons and the Diamondbacks of the world who are drilling kind of horizontal shale wells there are many more companies that are much more similar to mine you know that the horizontal shale game has largely become the domain of a very large companies I mean you've got to have scale to be able to operate in that space.”

“I'll remind you back in 2005 and it's kind of hard to believe now that there was a lot of fears that America was actually running out of oil and gas production I mean I think it was as as early you go as 2004 2005 the country was only producing about 5 million barrels a day and you know importing anywhere between 19 to 20 million barrels a day and so there was real concern and you know really really some fears of you know what happens if you know oil runs out”

“shale company that's the unconventional reservoirs and so that was the rock that largely was thought it was impossible to produce and really until the advent of horizontal development well not horizontal development so much as hydraulic fracturing it was because the the pore space was just too small and so there was no way to commercially extract oil and gas from those reservoirs we knew the oil and gas was there we just couldn't get it out”

“one of my favorite quotes is never underestimate the ingenuity of the American oil man and I just think it's a a testament to the tenacity and grit and intelligence of our industry largely maligned by a pretty big segments of the company that do not realize how much this has transformed our country”

“Conventional reservoirs have much higher porosity and permeability. They're actually much better reservoirs from a geologic standpoint. And so for the most part, you'll hear it in the industry parlance, those were the easy reservoirs to find. If you go back to like the 1920s, 1930s, drilling a field like the Yates field, which is kind of one of the most prolific oil fields, you were basically drilling a thousand feet into the ground vertically, and they were getting 400 to 500 to 1500 barrel a day IPs.”

“But if you look at the Baker Hughes oil and gas rig count, it's basically been trending sideways. In fact, the last available data, it fell by three. And then if you go out even further, it's been going sideways and slightly down since basically 2023. So we haven't seen a big supply side push, and that's despite a lot of noise coming out from the administration about unleashing US energy.”