I am still slowly digesting Boone Pickens' "The First Billion Is The Hardest." I'm currently reading a chapter entitled "The Bottom Of The Canyon," which is a great metaphor of the current economy. Pickens talks about how he views investments and day traders. "To make the big money, I've found it's best to take a long-term view, stay focused, and not get spooked by the temporary fluctuations in the market. When I have the odds in my favor, I put my money up and keep it up. If the fundamentals change, I get the hell out of there." Pickens says that most people panic when the markets start to fluctuate. However, he says that if you panic, you'll lose, no questions asked. And that leads us to Booneism #11 in the book: I told a friend, "This is the kind of market that builds character." He looked at me and said, "If it gets any worse, you'll have more character than Abe Lincoln." Well, investors, it looks like this is the kind of market that builds character! So put on your stove pipe hats and make the most of it! –Lindsay Goodier, Online Editor, OilandGasInvestor.com; www.OilandGasInvestor.com; lgoodier@hartenergy.com
Recommended Reading
Permian to Drive Output Growth as Other Basins Flatten, Decline–EIA
2025-01-14 - Lower 48 oil production from outside the Permian Basin—namely, the Bakken and Eagle Ford shales—is expected to flatten and decline in coming years, per new EIA forecasts.
Shale Outlook Permian: The Once and Future King Keeps Delivering
2025-01-11 - The Permian Basin’s core is in full-scale manufacturing mode, with smaller intrepid operators pushing the basin’s boundaries further and deeper.
Exxon’s Dan Ammann: Bullish on LNG as Permian Drilling Enters ‘New Phase’
2025-03-18 - Dan Ammann, Exxon Mobil’s new upstream president, is bullish on the long-term role of LNG in meeting global energy demand. He also sees advantages of scale in the Permian Basin.
Civitas Makes $300MM Midland Bolt-On, Plans to Sell D-J Assets
2025-02-25 - Civitas Resources is adding Midland Basin production and drilling locations for $300 million. To offset the purchase price, Civitas set a $300 million divestiture target “likely to come” from Colorado’s D-J Basin, executives said.
Occidental to Up Drilling in Permian Secondary Benches in ‘25
2025-02-20 - Occidental Petroleum is exploring upside in the Permian’s secondary benches, including deeper Delaware Wolfcamp zones and the Barnett Shale in the Midland Basin.