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Celina, TX, United States, 2015/09/04 - Texas oil giant Carson Energy released new analysis that shows rich Texas oil fields can be profitable at just $15 a barrel - CarsonEnergy.com.
As prices at the pump remain low going into Labor Day for the first time in over a decade, oil investors have wondered whether it can still be profitable to drill new wells. This week Texas oil giant Carson Energy released new analysis that shows rich Texas oil fields can be profitable at just $15 a barrel.
“Many investors feel you have to be getting over $60 per barrel for oil to be profitable, but that’s only on expensive shale plays. Carson operates in rich Texas blanket sands where it’s possible to make money when prices are as low as just $15 a barrel,” said Michael Johnson of Carson Energy.
Many investors have turned away from energy as prices have dropped. Oil industry experts say this is often the best time to invest in new exploration and development. Wells and production are then in place when prices go back up.
“The demand for oil is not going away. It’s essential for transportation and manufacturing along with a host of other activities. Once the extra supply of oil that’s on the market from expensive shale plays and tar sands has been used up, the global economy may find it’s way under-supplied and then it’s off to the races with high oil prices again,” Johnson said.
Carson Energy is considered to be the low cost leader that actually created oil and gas joint venture partnerships during the 1980’s oil boom. They have not only survived, but prospered, becoming a major producer in Texas.
“We have more experience than any of our competitors because we created this way of doing business. We’re like the General Electric of private oil and gas partnerships,” Johnson said.
Whenever the industry has a problem, it frequently turns to Carson. The firm again made headlines when they recently announced the Lone Star Collection. It’s a series of promising oil fields spanning 4 counties along the heavily productive Texas Gulf Coast. The Carson fields total nearly 7 square miles, with projected revenues exceeding $1 Billion Dollars. 3rd party experts believe there are between 15,892, 000 and 54,536, 000 barrels of light sweet crude ready to be pumped.
Right now drilling for oil is far less expensive due to the lower price of crude. Experienced energy investors refer to this situation as one ripe for “double dipping.” An investor can benefit from very cheap drilling costs, then have oil in production just as energy prices spike again.
About Carson Energy, Inc.
Carson Energy, Inc. (carsonenergy.com) is a part of a thirty two year old family owned company. Our office staff consists of departments of accounting, economics and finance, well revenue production, clerical staff, and officer Vice Presidents responsible for the management of client relations and their investment in Carson Energy Group joint ventures.
The list of benefits investors can realize with us is quite lengthy. One of the more important benefits, according to our investor group, is Carson’s unique ability to put investors into the Boardrooms of major industry partners whose doors are normally closed to outside investors. This step more so than any other can and usually does make the difference in winning in our industry. Our specialization is in the access of these prime natural gas and oil properties.