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Allen Gilmer of Enverus and Digital Wildcatters’ Chuck Yates discuss lessons from shale booms and busts
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To wrap up a day of panel discussions and rapid-fire demos at Digital Wildcatters’ and FreightWaves’ virtual conference, Evolve: The Next Evolution of Oil & Gas
, Allen Gilmer and Chuck Yates sat down with a bottle of cabernet to reminisce about lessons learned from the boom-bust cycles of the oil and gas industry and offer advice for those getting into a business sector that could be on the verge of a new upswing.
“I think the biggest culprit in all of this were public investors measuring companies on the basis of production growth,” said Yates, whose job title is “galactic viceroy” of Digital Wildcatters. “They didn’t care about rates of return. And you got addicted to that as a public company. So, am I going to experiment with six wells even though I think 12 wells is the right spacing? No you drilled the 12 wells.”