Why Small Energy Firms can be More Profitable | Andy Westmoreland

Andy Westmoreland of TM2 Squared Inc. discusses crude oil price cycles. Westmoreland has seen numerous peaks and troughs in the price of crude oil over several decades and has been able to remain profitable. He breaks down the difference between horizontal wells, vertical wells, and shallow wells. While it may seem counterintuitive, Westmoreland explains that it is possible for small producers to remain profitable with a much lower price of crude oil--even below $20 per barrel--than the big boys. Westmoreland is buying not selling because he can still make money pumping a shallow well that would be too insignificant for the majors. He does not have 20,000 employees to pay so he can purchase a well that produces a relatively small amount of crude at a very low cost. The big boys are interested in these minor wells because of their large overhead. Tune in and get a different view on investing in the energy space.

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