Scott Lapierre has spent the last 25 years working in the oil industry as a petrophysicist. He worked for Halliburton, ConocoPhillips, and Pioneer Natural Resources before going on to start his own E&P Company, PCORE Exploration. PCORE raised $100 million in private equity from Natural Gas Partners to exploit what Scott discovered to be “the secret” to a profitable fracking operation. Scott implemented his patented technology to exploit the “core” of the Midland Basin to earn an ROI of 3.2 over 18 months. He did this while oil prices fell from $105 to $36 per barrel. Now, Scott splits time between Houston and Denver managing his consulting firm, Shale Specialists.
In this episode, we discuss:
- “The secret” to shale oil.
- What does the current shale environment look like?
- Why is the US reaching an all time high in oil production while shale drillers – have been destroying capital?
- What companies should you be adding to your portfolio in this downturn?
- Where is the future of oil headed?
A special addition of the RI Podcast where Jamie interviews the mining industry’s top leaders and investors about the effects of the Coronavirus on the resource industry and capital markets. Jamie is currently quarantined at home in Vancouver, all interviews are conducted remotely.