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Started By
Message
OT O&G ballers step your game up
Posted on 8/6/16 at 9:48 am
Posted on 8/6/16 at 9:48 am
We have a new O&G billionaire and he's only 38
LINK
LINK
quote:
AUSTIN, Texas—When Bryan Sheffield sought investors to finance the first oil well drilled by his company, he pitched a fairly standard 20% return. Then, he gambled he could do better by drilling into a deeper layer of rock than planned.
The wager, roughly seven years ago, paid off, and the doctors, prospectors and his buddies back in Chicago’s trading pits who invested in the $1.2 million West Texas well wound up making some 60%.
Mr. Sheffield ’s current investors are doing even better: Parsley Energy Inc. ’s stock has more than doubled over the past year, ranking among the top U.S. exploration-and-production companies. The 128% rise to an all-time high of $32.50 includes a 14% jump since Wednesday evening, when Parsley reported second-quarter earnings showing increased production and lower drilling costs.
2
Posted on 8/6/16 at 10:00 am to RedRifle
Overnight Operators will never reach that kind of status
Posted on 8/6/16 at 10:37 am to RedRifle
If it's too good to be true then it probably isn't true.
If I was a stockholder of his father's company, I'd sue. What I got from the article was the father and grandfather helped cherry pick leases and employees from publicly traded companies and provide them to their son/grandson.
Sounds fishy.
If I was a stockholder of his father's company, I'd sue. What I got from the article was the father and grandfather helped cherry pick leases and employees from publicly traded companies and provide them to their son/grandson.
Sounds fishy.
Posted on 8/6/16 at 11:02 am to stewie
And you sound jealous baw.
Posted on 8/6/16 at 11:07 am to RedRifle
It's not that difficult to make a fortune when your father buys minerals rights the size of Rhode Island in the Permean and your grandfather already has 130 active wells. Dude started on 3rd.
Posted on 8/6/16 at 11:40 am to RedRifle
quote:
And you sound jealous baw.
As the post below yours notes, the guy had this handed to him. At least he acknowledges it.
However his dad Was the CEOs of publically traded company and passed on deals while leading that company and turned around and took advantage of those deals personally. Maybe the board overruled him when he brought it up to leadership and then he took advantage, I don't know.
But it mentions in the article that they took good employees from his fathers company and now that his son's company it rolling, the father steps down.
It all sounds a breach of fiduciary duty by the father. Definitely in an ethically grey area (from the outside looking in).
Jealous, yeah...I wish I had billions literally handed to me like this guy. But I don't ...
How would it not bother you if those billions were illegally acquired? Insider trading? Breach of duty by the father? Civil and criminal implications?
Again, if it's too good to be true...probably not true
Posted on 8/6/16 at 3:30 pm to Jim Smith
Does he have truck nuts on his G6
Posted on 8/6/16 at 3:40 pm to RedRifle
Wing nuts
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