Crude Energy, LLC (the “Company”) announces a monthly Energy Sector Update in light of fluctuating oil prices. The update, created to discuss major topics in the energy and oil and gas investing industries each month, will be featured on the Company’s website www.crude.com.
The first of these updates, posted to Crude Energy’s website on January 21st, focuses on the recent drop in oil prices and how it impacts the Company directly.
“With so much concern over prices in the market right now, and Texas being the country’s largest energy producing state, this update is timely to not only help inform our clients how we see the market, but to make available to the general public as well,” said Parker Hallam, Crude Energy’s President and co-founder. “Oil prices have been volatile in my decade-long career in oil and gas, and we feel the majority of the downward move has taken place. We still have profitable operations at these prices, and that was a strategic decision we made when oil was still much higher than it is today,” Hallam added.
Crude Energy focuses on the Permian Basin in West Texas, with a farmout lease that is being developed with vertical wells for greater cost efficiency while still generating favorable returns.
“We decided several years ago that participating in deep, long and expensive wells in other plays were more risky if prices fell. I understand Texas fields and the economics here make more sense. The big plays you’ve been hearing about lately could be the first ones to have problems if prices stay at these levels for long. On the other hand, our wells continue to make economic sense, and when prices go back up, we’re still in a good position,” Hallam said.
The January Update can be found at the following link: http://www.crude.com/january-2015-energy-sector-update-parker-hallam/
Crude Energy retains no leveraged debt and all operations are on a cash basis.
Hallam also hosts a daily podcast, “Oil and Gas Investing Report”, posted Monday through Friday on iTunes.com and available on the Company’s website under the Media section.
About Crude Energy
Crude Energy is a private oil and gas company specializing in working interests and royalty interests for private accredited investors. Based in Dallas, Texas, Crude Energy is engaged in the development of high-probability, lower risk onshore oil and gas properties. The Company’s dual-focused growth strategy primarily relies on leveraging management’s technical and operations expertise to grow through the drill-bit, while also growing its base of non-operating working interests and royalty interests. Crude Energy has oil and gas participation in most of the major shale formations in the United States, and is currently focusing in the Permian Basin of Texas. Additional information is available at http://www.crude.com/. Parker Hallam hosts a daily podcast, “Oil and Gas Investing Report”, available on the Company’s website and on iTunes.
