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So much oil -- current down 16% so far this year -- yesterday.
It's settle at its lowest level since October and you can bet that has the attention of my next guest he has -- found he's the founder and CEO.
A -- of -- petroleum an independent energy company.
Drilling in the Permian Basin thanks so much for joining us Randy we appreciate it.
Thank you Melissa we will -- you.
So since the last time you were on prices have fallen even further -- they're down about 4%.
In the past month or so.
What are your thoughts about how much -- -- it's gonna go and how does that impact your business.
Well it'll be it'll be interesting to see how much -- goes but the facts are that out of the last 66.
Months the monthly settlement.
Has always been above a hundred bucks fourteen times fourteen months.
So this the industry's.
Has enjoyed a hundred dollar -- Fourteen adolescence.
In the eighty range of it drops much lower than that then about recent stress on the domestic energy.
So are you concerned about that and have you curtail any of your expiration or does it make you.
You know -- it does this which what you're looking for.
We we have some concern about it we haven't curtail any thing we're not switching any thing.
Laredo is particularly well suited to withstand this were very thoroughly -- We make a lot of money at the 7580 bucks and we confined our future exploration and growth at those price ranges.
If it drops much more than you really look at it again.
-- you also focus on natural gas of course there is a big glut of natural gas right now and a lot of producers have said that the low price fair.
I'm has been a concern for them is that a worry for you and your business where do you think that prices had it.
I think I think the United States has been blessed with a huge increase in the supply -- natural gas.
We probably have a couple of generations.
I think that's going to keep -- damper.
On natural gas prices for some time to count.
We we have some natural gas we're not -- much capital into dry natural gas but if it's been a huge boon to the US economy.
For us to find this huge supply of natural gas.
OK Randy thank you so much for joining us we appreciate it.
I thank you -- thank you.
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