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Jack McClendon

๐Ÿ‘ค Speaker
368 total appearances

Appearances Over Time

Podcast Appearances

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

Yeah, sure.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

Thanks for having me on.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

Yeah, we're just a small independent oil and gas producer.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

So we operate in the part of the segment called the upstream oil and gas industry.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

So that is the actual direct companies that extract the hydrocarbons from the ground.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

And so, yeah, our business is a little bit different from a lot of the publicly traded companies that you see, you know, the Exxons and the Diamondbacks of the world who are drilling kind of horizontal shale wells.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

There are many more companies that are much more similar to mine.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

The horizontal shale game has largely become the domain of very large companies.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

I mean, you've got to have scale to be able to operate in that space.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

We're largely a production company.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

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 costs down.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

Although there are smaller companies that do do drilling and we have drilled in the past and we will likely drill in the future as well, too.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

Yeah, you could you could say that.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

I mean, a lot of just as I said, a lot of the assets that we're targeting are just they're just too small.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

You know, they're rounding errors, you know, on the balance sheets of these large shale companies who, you know, are buying tens of thousands or hundreds of thousands of acres and drilling, you know, two to three miles under the ground.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

So it's just we produce the same product.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

It's just a very different business.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

I'm going to correct you quickly and then go back into context.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

It's not a shale business.

Odd Lots
Jack McClendon on Why It's So Hard to Create a New American Oil Boom

OK, sure.

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