PetroGrand and Shelton Petroleum, why small E&P companies fail and the need of consolidation
I have closely been a part of the oil-market on an everyday basis for the past 4 years and I see a clear pattern. “Successful” small E&P companies today often sit on a high quality asset that they have managed to bring into profitable production, often through the drilling of new wells or through heavy workovers on existing wells. Through their work they have managed to increase oil production while the general and administrative expense has decreased to a level where investments into their oil-fields in some cases can be self-financed. ...