I was recently approached by phone to do an oil investment by some random company. The numbers and tax advantages of the deal sounded amazing to me, but I knew not the first thing about the oil business. I didn't know what was a good deal and what wasn't. I ended up turning down the deal and decided to research the business end of oil wells and learn more about how the whole process works. I wanted to be educated before throwing my money around.
Being a beginner in oil & gas investments I picked up this book to get up to speed with oil & gas wells. It is hard to find books that focus on the private drilling business end of things and this book explains exactly that. I don't want to put my money in a common oil stock or index. I know that there is much more money to be made and greater tax advantages getting in on the business side of things. This book covers that. This book walks you through not just the business side, but also the geology, drilling, production and refining side of oil as well. Having read the book I now feel much more knowledgeable and comfortable in negotiating oil & gas investments. I now have a basic understanding of all the different components involved in an oil or gas deal and am able to explain the process to my partners and family members.
Chapter 12 was my favorite chapter as it explained how a typical oil & gas deal goes about. This chapter really put it all together and allowed me to see everything I had been reading about in action. I really do think that I now have a pretty good understanding of the different parties involved and the different ways that percentages and fees are paid.
I would highly recommend this book to anybody looking to gain insight into investing in oil and gas wells. A well organized, fantastic read!
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