Countries will go to war over energy, and people in the street will fight over the “Greener” movement – An exclusive interview with Jay R. Young, CEO

ENB Podcast -Jay R. Young - Alternative Investing

Ok, full disclosure, I have had fun with Jay on several of my podcasts, his podcasts, and hosting the King Operating Roundtable series. We have way too much fun while talking business. Now that being said, Jay is 100% oilman. That is not a bad thing when you look at his business model of delivering low-cost energy to the United States energy market, following the ESG best practices, and maximizing investor returns. Those talking points are a check box on the energy ESG requirements for some energy companies. That being said, Jay expects his company to perform to meet and exceed the high standards.

The energy crisis we now find ourselves in has taken 25 years of bad energy policies to get here and won’t be solved anytime soon. The good side about the “Greener” movement is that it has forced the other oil and gas companies to look closely in the mirror and take ESG to heart. The other part of this discussion relates to our current geopolitical crisis and how we get on the road to Net Zero together. We will need U.S. oil to get there, and it needs to be produced responsibly to all stakeholders and the environment. Having good discussions from all sides of the energy market is what it will take to get to “Net-Zero”.

Fill out the assessment in the link below the podcast and we will send you a free e-copy of Jay’s book “The Upside of Investing in Oil and Gas”. Enjoy the podcast.

Find out if Oil and Gas is a good investment for you HERE.

Please connect with Jay R. Young on his LinkedIn Here.

Find out if Oil and Gas is a good investment for you HERE.


Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

Stuart Turley: [00:00:04] Hello, everybody. I’ll tell you what. Welcome to the Energy News Beat podcast and to all of the listeners today, we got a special treat. [00:00:13][9.1]

Stuart Turley: [00:00:14] A lot of you may know Jay Young, but Jay Young is the CEO and CEO of King Operating. Jay, welcome to our podcast. We are so glad to have you stop by. [00:00:25][11.5]

Jay Young: [00:00:26] So long. Glad to be. I’m honored, humbled, everything. Just so glad to be here today. [00:00:30][4.6]

Stuart Turley: [00:00:31] Well, you know, Jay, you and I met a while ago and you were on my podcast, I believe, in a couple of years ago and we’ve we’ve kind of grown and then Brian Rae got pulled into this little thing as well, too. [00:00:45][13.2]

Stuart Turley: [00:00:45] And then you had me on some of your roundtables and then I’ve been fortunate enough to get to know you over the King Operating roundtables, and those are just a hoot. [00:00:54][9.1]

Stuart Turley: [00:00:55] So I’ve enjoyed getting to know you with your differences of your views. And I mean, Jay, we’re going to jump into some of those views. [00:01:03][8.6]

Stuart Turley: [00:01:05] I got tickled the other day about Greener. What do you think about Greener? [00:01:08][3.0]

Jay Young: [00:01:09] You know, I know we’re going greener. I mean, we’re going greener in one sense. But we’re also our demand for gas is going up in others. [00:01:16][6.4]

Jay Young: [00:01:16] So when you say greener, I’m a I’m assuming that you’re saying that I coined the term greener. [00:01:22][5.8]

Stuart Turley: [00:01:23] Right. [00:01:23][0.0]

Jay Young: [00:01:23] Because people just get I mean, they keep hitting me about this. [00:01:26][2.3]

Jay Young: [00:01:26] The media. Hey, greener, greener, green and green, green, green great. I’m like, dude, we’re not going to go green anytime soon. I don’t care how many Teslas give me a Hey, hey, great cars the great cars are coming. Another go. No problem for Chevrolet pickups coming. No problem with that. [00:01:46][19.5]

Jay Young: [00:01:47] But we’re going to get greener before we go the Jetsons are great. You know, I don’t know if we’ll ever, ever 100% go. [00:01:55][8.6]

Jay Young: [00:01:56] 60 65% of right barrel of oil is used for non petroleum products for your cars just in trucks. [00:02:04][7.9]

Stuart Turley: [00:02:05] So to put that in OSU terms, Jay, that would be lipstick that would be everything in your room looking around the room. [00:02:11][5.8]

Stuart Turley: [00:02:12] I mean, that is just absolutely anything that gets to your food, fertilizer, I mean, anything that you have is a way of life. Is that a fair statement? [00:02:21][9.9]

Jay Young: [00:02:22] Absolutely. That you’re exactly right there is a lot of different way. I mean, the art of the asphalt in your in your the roads these proposals are driving on. [00:02:32][9.8]

Jay Young: [00:02:32] I mean, there’s just so many different things that that are made with oil that. Yes, I agree if Tesla cars are great. I went to the maverick game last night in one. [00:02:42][9.3]

Stuart Turley: [00:02:44] That was the ride. [00:02:44][0.4]

Jay Young: [00:02:45] It was awesome. Great. I mean, big, huge computer screen. I mean couldnt even hear the car. Yeah. And it just amazing, those are great cars there really are. [00:02:55][9.7]

Jay Young: [00:02:55] I don’t know how safe they are compared to a big, huge motor and all that stuff, but I don’t know that my kids are going to drive in those anytime soon, especially when they’re that age. [00:03:07][12.2]

Jay Young: [00:03:08] But, you know, I do believe it’s going to go there, but it’s not just any time soon. [00:03:14][5.3]

Stuart Turley: [00:03:14] You know, some of the fun things that you and I have been able to see is all of these interviews that you’ve been asked to be on,. [00:03:20][5.6]

Stuart Turley: [00:03:20] Everything from the BBC and Fox, and you just did one with Ameritrade this week. Can you tell me a little bit about that and how that went? [00:03:29][9.0]

Jay Young: [00:03:30] Yeah. Yeah. So great, great interview with Judy Ameritrade they they’re just talking about oil and trying to figure out where is the demand going, where is our supply going and and right now, I mean, you’re seeing, you know, public companies. [00:03:43][13.2]

Jay Young: [00:03:44] I mean, even even Sheffield from Pioneer said that I hope orders go to $100 a barrel because we’re not able to take advantage of it because our shareholders don’t want us to go out there and drill river wells, you know,. [00:03:57][12.7]

Jay Young: [00:03:57] And he’s afraid that they won’t until it’s too late and then when it’s too late, costs will go way, way up. [00:04:04][6.5]

Stuart Turley: [00:04:04] Yep,. [00:04:04][0.0]

Jay Young: [00:04:05] It will go way, way up. And then as the price does start coming down to 8070, in the future,then they’re going to have wells that they drilled at $120 oil they’re going to have to receive 70. I mean, it just doesn’t make sense. [00:04:17][12.4]

Stuart Turley: [00:04:19] But, you know, as we talk about Greener, which I get tickled every time I do that, you know, especially when I’m walking down the hall. [00:04:25][6.3]

Stuart Turley: [00:04:25] I told this joke on the roundtable and it’s like my I walk down the hall, my wife goes, What are you laughing about? And I’m going because we’re going greener. So I get tickled every time I say it and instead said. [00:04:36][11.2]

Jay Young: [00:04:37] What does she say? [00:04:37][0.4]

Stuart Turley: [00:04:38] She just kept your head down. She knows that I do stupid jokes all the time, so she bet. Poor woman. [00:04:43][5.1]

Stuart Turley: [00:04:44] Hey, so when we sit there and talk about Greener, the investors for the public companies don’t want them drilling, but they don’t mind them acquiring properties that are already working and they can say that these are now greener properties with free cash flow then that fit into the King operating plan for 2020, 2022? [00:05:08][23.6]

Jay Young: [00:05:09] Yeah, we’ve got we have we’ll have seven different assets that are in our fund. [00:05:14][4.7]

Jay Young: [00:05:15] You know, we’ll have Wyoming, Colorado we’re still working to Wyoming, maybe Wyoming, Colorado. We’ve got the Mid-Continent, we’ve got the Permian Basin that’s for Permian Basin. We’ve got South Texas, Gulf Coast, these Texas. [00:05:27][11.7]

Stuart Turley: [00:05:27] Right. [00:05:27][0.0]

Jay Young: [00:05:28] All of these properties. And we’re looking to scale two or three of those this year and the best one of them so the class get their money back. So that’s our that’s our goal and then continue sending you revenue checks after that. [00:05:42][14.0]

Stuart Turley: [00:05:43] Well,. [00:05:43][0.0]

Jay Young: [00:05:43] Yes, that is exactly. People are still buying deals. 2021 was a record year for a lot of A&E companies. [00:05:51][7.2]

Stuart Turley: [00:05:52] Right. [00:05:52][0.0]

Jay Young: [00:05:53] These are coming back. Yep, it’s coming back. And people are buying in value. They’re paying premiums. [00:05:59][5.7]

Stuart Turley: [00:06:00] And paying premiums for your kind of deal. I want to go back to the deal here in a sec, but I want to tease up our roundtable on Tuesday because we’re going to cover M&A activities in the Permian and everything else we’ve got a lot of new data that this is coming around because of the greener as I commonly get tickled again on this as well. [00:06:20][20.1]

Stuart Turley: [00:06:21] So you and I are never going to be able to have another podcast again or roundtable without going greener. Giggle, giggle like a little high school. [00:06:28][6.5]

Jay Young: [00:06:29] I agree. I definitely agree that there’s a true. [00:06:32][2.9]

Stuart Turley: [00:06:33] Oh, it is. And world demand is absolutely J I’m going to pull a fast one on you here. I got one of your interviews here, and I think that this is absolutely some of your quotes are phenomenal. [00:06:44][11.6]

Stuart Turley: [00:06:46] And this one was investing in oil and gas so what are people like investing in oil and gas companies now only helps them become greener in the future. I’m serious because the more fossil you set up here earlier,. [00:07:04][18.8]

Stuart Turley: [00:07:05] The more fossil fuels we used the the more greener we go, the more fossil fuels we use. Now in that kind of a goofy thing. [00:07:15][10.2]

Jay Young: [00:07:17] That really is. Yeah and then, hey, when prices are up, that’s the more we need to drill look at Trump. You know, President Trump was drill, baby, drill, drill, baby, drill and look what happened all prices went down. [00:07:30][13.6]

Jay Young: [00:07:31] We were all drilling and drilling in Permian Basin and everywhere and then, we drilled so much that prices started coming down before the pandemic. [00:07:40][8.8]

Jay Young: [00:07:41] I mean, you have our supply, which means that’s the number of barrels that we produce every day was going right. 14 million barrels a day only 21 million, 22 million. So we we’re still we’re still a deficit, but we’re still we’re producing over 14 million barrels a day. [00:07:59][18.1]

Stuart Turley: [00:08:00] Right. [00:08:00][0.0]

Jay Young: [00:08:00] The pandemic happened in our hour they were completely off and said, look, we’re not drilling anymore at 75% of the rigs off of the of the market so our production started coming down. [00:08:14][13.4]

Jay Young: [00:08:14] But yeah, you’re right. I mean, you’ve got to have a tremendous amount of rigs running to constantly allow the the supply to continue to go up as well as decline in volume in production,. [00:08:26][12.2]

Stuart Turley: [00:08:27] Yep [00:08:27][0.0]

Jay Young: [00:08:28] Particularly in those low decline over time. And that’s when you got to have new wells and new rigs drilling for oil and gas. So it keeps the production steady going up. [00:08:38][10.7]

Stuart Turley: [00:08:39] You know, last year at this time off of the King operating website, which is Kingoperating.com, there are some good resources there. [00:08:46][7.3]

Stuart Turley: [00:08:47] One of them is the rig count and Jay, I believe it was 530 rigs are running about now I have to go check the site, make sure and last year it was around 300. That’s a big jump up, but it’s still not where we need to be, is it? [00:09:02][14.8]

Jay Young: [00:09:02] Right, You? Yeah, it’s still not there. And I don’t think we’ll and also I don’t think I’ll ever be there. But from what I understand, from what a lot of company now I mean I can say that that all of a sudden oil prices go to $200 a barrel and all of a sudden everybody is going to be drill everyone will find the money they don’t care what happened. [00:09:22][19.7]

Jay Young: [00:09:23] $200 dollars a barrel, they’re going to find the money because economics, the economics are so good because you $8 million to drill a well where normally you make, you know, 20, 30 million, you’re only making 50 to 100 million every time you poke a hole in the ground at $200 oil,. [00:09:38][14.8]

Jay Young: [00:09:39] You’re going to find the money and you’re going to find the rigs and we’ll be drilling like crazy that all of a sudden you’ll get up here, they’ll start going down again because we’ll have to quit drilling because prices come down. So. [00:09:50][11.1]

Stuart Turley: [00:09:50] Right. [00:09:50][0.0]

Jay Young: [00:09:51] It’s all about supply, no matter how much oil or we producing compared to how much do we need? [00:09:57][6.0]

Stuart Turley: [00:09:58] Right. [00:09:58][0.0]

Jay Young: [00:09:58] It’s all about supply, demand and supply we have and the less demand that’s what’s happened during the pandemic, is we had a great supply the pandemic went down,. [00:10:08][9.6]

Jay Young: [00:10:08] Our demand went way down where there’s oversupply because Saudi Arabia and Russia were they already put all these oil on the market. [00:10:16][7.9]

Stuart Turley: [00:10:17] Right. [00:10:17][0.0]

Jay Young: [00:10:17] Before the pandemic to lower the price. And then the pandemic happened. So we were oversupplied. So prices were negative. [00:10:24][6.7]

Stuart Turley: [00:10:26] Well, you know, as we’re sitting here and thing you and I have talked about Saudi Arabia and Russia a lot and, you know, I do a lousy Putin imitation, you know, like Ey…, I’m going to like I’m going to hold you know, you’re right, you know, and I’m a lousy, lousy Putin imitation fact. [00:10:42][16.7]

Stuart Turley: [00:10:43] But. he,,, [00:10:43][0.1]

Jay Young: [00:10:46] It sound like your going italian on me. [00:10:46][0.1]

Stuart Turley: [00:10:47] Oh, I can’t do Putin. There’s no way I sound more like a godfather than I do but when when you sit back and think. Saudi Arabia needs $120 to $135 to balance their budget. [00:11:01][14.3]

Stuart Turley: [00:11:02] Putin has advertised that he is going to be exporting 37% of his GDP is energy. He needs prices of natural gas. [00:11:13][11.0]

Stuart Turley: [00:11:14] They just announced J from Reuters that Russia does not have the supply. What does that mean? That means no supply price goes up. [00:11:25][11.5]

Jay Young: [00:11:26] Exactly. If you’re if all these other countries are expecting to get their natural gas from gluten or whoever and they don’t have it, they’re going to be sitting there needing it from somewhere. I mean, it’s like. [00:11:36][10.2]

Jay Young: [00:11:37] The longest time our demand was 20 million barrels a day we really needed 20 million barrels a day for oil, and we were producing eight, nine, ten, 11, 12 and all of a sudden that difference is okay, because that was made up by people that Mexico, Canada. [00:11:55][17.4]

Stuart Turley: [00:11:55] Right. [00:11:55][0.0]

Jay Young: [00:11:56] OPEC’s, you know, but there is as that delta gets bigger that’s when you have an incredible amount of you may have World War three Cuz there is so much money. You have that big difference in there. [00:12:09][13.2]

Jay Young: [00:12:10] And all of a sudden that’s when you go to people that don’t like you, that that are putting their stuff on the market and saying, hey, no, we’re not good and we’re not going to give you any oil unless you pay me $200 and it’s like, Oh gosh and then. [00:12:23][13.7]

Stuart Turley: [00:12:24] Eyy.. [00:12:24][0.0]

Jay Young: [00:12:25] Because worst thing that could happen [00:12:25][0.8]

Stuart Turley: [00:12:27] Hey, I’m going to ask you a more specific. In our East Texas near the Haynesville over there, Shania is right down in there and they’re exporting all of the LNG that they passed and they hit an all new all time high this week, I believe in their stock price. [00:12:44][17.0]

Stuart Turley: [00:12:44] And we’ve had over 30 LNG carriers going to Europe to save their carcass and as I say, in Oklahoma, sometimes carcass so I mean, and so. [00:12:56][11.2]

Stuart Turley: [00:12:58] So as you sit back and think with our East Texas property is in that part of the fund? [00:13:02][4.6]

Jay Young: [00:13:05] It is part of our fun, and that’s going to be some good oil and gas that we’re going to be drawing so everybody know you know, one part of our funding operating partners, one LP, our first one fund, one. [00:13:17][11.9]

Jay Young: [00:13:17] Is we do have an asset in East Texas and we’re going to drill that we’re drilling that the next few months, and as soon as we do, we’ll put that on the market and we’ll have the production but we’ll also put that up for sale. [00:13:29][12.3]

Jay Young: [00:13:31] To be worth 50 to $100 million or more, just based on what we’re what the prices are at that time so we’re very excited about that. [00:13:40][9.2]

Jay Young: [00:13:40] That’s that’s one of my projects that I want to put on and sell by the end of this year, because I would say if we do or when we do were gonna get our clinents money back. [00:13:50][10.3]

Jay Young: [00:13:51] And then Fund two will be funded and we’ll be off to the races on some other great projects. [00:13:56][5.0]

Stuart Turley: [00:13:56] That just fits into what we just talked about. JAY And what we’re going to talk about next Tuesday in the M&A, all of a sudden that becomes prime real estate. It’s all about location, location, location and that. [00:14:08][11.3]

Jay Young: [00:14:08] Right? Exactly. It is. And that’s that’s what you want to do, is you want to find the best. Locations. [00:14:15][6.0]

Jay Young: [00:14:16] Our our job is to bring in projects that we can drill up, improve the value, and then divest and we want to do that we want to do that, especially in our funds in the beginning, because that gives all the clients their money back. [00:14:31][15.7]

Jay Young: [00:14:33] I mean, they love us they have no no money out out of their pockets they’re still getting 20% returns well, the internal rate of return on that has got to be phenomenal on order you’re getting 20% of return on the bonus you already have back works. That’s crazy. [00:14:49][16.3]

Jay Young: [00:14:49] So we will do fund to fund three we want to build a $2 billion, $5 billion, $10 billion company with the other assets in there. [00:14:58][9.1]

Stuart Turley: [00:14:59] Right. [00:14:59][0.0]

Jay Young: [00:14:59] So in 3 to 5 years after doing 3 to 5 different partnerships, we can we can have that and we can either go public or we can, you know, write whatever the case may be at that time. [00:15:10][10.9]

Jay Young: [00:15:11] I don’t know what’s going to happen yet. Nobody does but we want to we will give us the opportunity to have the opportunity. [00:15:18][6.6]

Jay Young: [00:15:18] We may just sell the whole thing to somebody. [00:15:20][1.7]

Stuart Turley: [00:15:22] You know,. [00:15:22][0.1]

Jay Young: [00:15:22] Good projects and good areas and the better rock, the better. [00:15:26][3.7]

Stuart Turley: [00:15:27] You know, when you sit back and think about this, I’ve never seen such a perfect storm day. You and I have talked about, you know, in my my hairline just gets messed up in a storm. [00:15:37][9.6]

Stuart Turley: [00:15:38] So I could walk through this storm and if I’m walking through the storm, commodities are huge, huge sharing of wealth. [00:15:45][7.8]

Stuart Turley: [00:15:48] And so that’s a big deal when you start going through and saying, what do I invest in? What do I protect my portfolio in? And, oh, by the way, I need tax breaks. [00:15:58][9.4]

Jay Young: [00:15:59] Yeah, absolutely. I’m not exactly hundred percent encouraged with this and, you know, the biggest thing that we did this year was to increase our value, was to look at our different assets and hey, you know what? When we did one asset story kind of energy fund, wemade a mistake. [00:16:15][16.3]

Jay Young: [00:16:16] And the mistake that we made was by going in all in one asset because if you go all into one asset, what happens is that asset doesn’t sell at the right time, at the right place, at the right time everything’s not lined up. Well, then you know what? Your investors are pretty much toast. [00:16:33][16.4]

Jay Young: [00:16:34] So why don’t we do this? Why don’t we buy seven deals in seven different spots? We have teams built around each one and then you never know what’s going to sell. [00:16:43][9.4]

Stuart Turley: [00:16:45] Right,. [00:16:45][0.0]

Jay Young: [00:16:45] There’s no guarantees in this business so if we can increase the value in two out of three of them this year. So one gets your money back and then continue sending your monthly revenue. Six. You’re going to be pretty happy. [00:16:57][12.0]

Stuart Turley: [00:16:57] I’d be real happy. Okay. All right. Well, then I’m going to put the contact information in here below the article and everything else. [00:17:06][8.7]

Stuart Turley: [00:17:07] But I’ll tell you, I am so excited about getting to see you on the roundtable again on Tuesday. [00:17:11][4.1]

Stuart Turley: [00:17:12] And I’m going to throw it over to you for the last word. What is that, Jay Young, positive thought for the day? [00:17:20][8.2]

Jay Young: [00:17:21] Yeah, great. Great thought. It’s the right time to be involved in oil and gas it is there is not a better time. [00:17:28][6.7]

Jay Young: [00:17:29] There’s not a better company than ours because of the way we structure our deals for you you know, this is all right we are thankful for our employees, the people that we have on board we are thankful for you as the investors and most importantly, you know,. [00:17:44][14.6]

Jay Young: [00:17:44] You can have all this, but if you have the wrong structure on a project, you’re you’re not going to do very well so we have restructured the program we’re going to add another project in Wyoming world class. I mean, it is a world class project. I’m really excited about it,. [00:18:01][16.5]

Jay Young: [00:18:02] But we’re going to do that as well so this is all for the investors in fund one so, you know, call your representative. Come in. Let’s let’s get a deal done. And it. [00:18:13][10.9]

Stuart Turley: [00:18:13] Sounds. Great [00:18:13][0.3]

Jay Young: [00:18:14] You know, you’re on your list. I’m going to be the one that’s going to look at this every day and I’m going to look at it. You need this you need to sit back and get your tax benefits, see your monthly revenue checks go up and number three, we’re going to scale this thing. We’re going to be very, very happy on the rig come the rig with us. [00:18:33][19.2]

Stuart Turley: [00:18:33] Oh, absolutely. When is that trip? [00:18:35][1.4]

Jay Young: [00:18:36] Well, we’ve got several. We do it any time you want. Do you want to do. [00:18:39][3.1]

Stuart Turley: [00:18:39] I look at the time. We got to go. We got to go now. [00:18:43][3.6]

Jay Young: [00:18:44] We’re. We’re studying next week we’re studying next week. Today is the 14 January. Friday we look to spud that well on January 17th. 18th. [00:18:54][10.1]

Stuart Turley: [00:18:55] Okay. [00:18:55][0.0]

Jay Young: [00:18:55] Everything goes right. We’re still moving things in over the weekend and then we’re going to spend the next well, this is in the panhandle of Texas, about an hour and a half north of Amarillo. [00:19:04][9.1]

Stuart Turley: [00:19:05] Oh, nice. [00:19:06][0.2]

Jay Young: [00:19:06] Then we’re going to drill wells in east Texas and Wyoming and also Colorado this year. So wherever you wherever you happen to be, at whatever time you have some time, let’s go. [00:19:16][9.6]

Stuart Turley: [00:19:16] I had an investor contact me, Jay, real quick and they said they they thought it was an understanding that you were a 100 year old man that was in the oil business, or is that a hundred year old family? Your family has been in there, or are you really 100 years old? [00:19:33][16.7]

Jay Young: [00:19:34] I am. I look good at 125. [00:19:36][1.8]

Stuart Turley: [00:19:38] But your family’s in. [00:19:39][1.0]

Jay Young: [00:19:39] A 39th birthday. I’m a fourth generation. My great grandfather was in the oil business. I’ve got pictures of him you see on the website and my great grandfather’s in the business he had 12 kids and they were all in the oil business, the remainder in the oil business and if you’re a woman, you designed the oil business and that was over 100 years ago. [00:20:01][22.3]

Stuart Turley: [00:20:03] Wow. [00:20:03][0.0]

Jay Young: [00:20:04] I mean, we just that’s all we talk about. So, yes. I mean, no, no, it’s you talked about at your roundtable well, of course, your dad was military. [00:20:12][7.2]

Stuart Turley: [00:20:12] Yep. [00:20:12][0.0]

Jay Young: [00:20:13] I’m sure you talk about military stuff at Christmas and dinner. [00:20:16][2.8]

Stuart Turley: [00:20:17] We talked about, how many push ups you could do. So. [00:20:20][3.2]

Jay Young: [00:20:23] Like, we talked about the oil business and how much love it was. And so that’s how you grew up. I love this business there is not a better time. [00:20:29][6.4]

Jay Young: [00:20:30] I’m looking to get as many wells drilled this year as possible because that that fund that we have, which is 25, going to 35 million, we’ll have that we hope to have that fund up to $150 million value by the end of this year. [00:20:45][15.0]

Stuart Turley: [00:20:45] Nice. Well, you know, 150 million, that’s a lot of money going back to the investors. [00:20:51][6.0]

Jay Young: [00:20:53] So if we sell a piece of it, see, what happens is if you don’t sell it, you don’t realize the profits because this is all through the business,. [00:20:59][6.2]

Stuart Turley: [00:21:00] Right? [00:21:00][0.0]

Jay Young: [00:21:00] Is what I’m saying, that, hey, you got to sell some of their money back. [00:21:04][4.0]

Stuart Turley: [00:21:05] We like that. [00:21:05][0.3]

Jay Young: [00:21:06] Well Give you your money back and then your revenue or then you building the investment. That’s what you’re that’s what you’re excited about. [00:21:14][7.7]

Stuart Turley: [00:21:14] Exactly. [00:21:14][0.0]

Jay Young: [00:21:15] If you don’t have your money back, it could be worth 3 billion. [00:21:18][2.9]

Stuart Turley: [00:21:19] Right? [00:21:19][0.0]

Jay Young: [00:21:20] Three. Brilliant. I don’t know. But he’s like, Hey, I got feathers where I got a buddy of mine do I got a buddy of mine in one of my groups? And he invested in this deal and he goes, Oh, man, my my money’s worth is worth $200 million. Oh, my God. [00:21:35][14.9]

Jay Young: [00:21:36] We put $1,000,000 in. This thing is worth over $1,000,000. I go, Oh, that’s great. You have a check. No one ever said, we’re going to get a check. We’re going to. So I saw him two, three months later. I’m like, Hey, man, how they go? He goes, Oh, man, don’t ask me. Well, as they say, we we were trying to get callbacks from these people. We don’t know what’s going on. [00:21:55][19.3]

Stuart Turley: [00:21:56] Wow. [00:21:56][0.0]

Jay Young: [00:21:56] Not looking good. I mean, he was excited because he thought, hey, I got $1,000,000. [00:22:00][4.1]

Stuart Turley: [00:22:01] Right? [00:22:01][0.0]

Jay Young: [00:22:02] And I’m just saying, you know, hey, we got to sell something for you to realize profits. You know, we got to get you all your money back. Because if I give you your money back, you get a million bucks. [00:22:13][10.9]

Stuart Turley: [00:22:14] You’re happy. [00:22:14][0.3]

Jay Young: [00:22:15] You’re all down the road. Hey, we’re still scaling it and we go public. [00:22:19][3.9]

Jay Young: [00:22:20] We we were careful with with the death that we’re using, see? [00:22:23][3.4]

Stuart Turley: [00:22:23] Right. [00:22:23][0.0]

Jay Young: [00:22:24] I mean, some of knock out all of that give the clients all their money back, then I’ll use the debt, which will be Baghdad, to go in and drill some more wells in Wyoming or. [00:22:35][10.9]

Stuart Turley: [00:22:35] Right. [00:22:35][0.0]

Jay Young: [00:22:35] In the basin. Just some little bitty, you know so we’re not overextending ourselves because I want the cash flow. [00:22:44][8.5]

Stuart Turley: [00:22:45] Right. [00:22:45][0.0]

Jay Young: [00:22:46] And I’ve got 12 and a half units in this project. I don’t I don’t work. My wife my wife wants her money back, too. [00:22:51][6.0]

Stuart Turley: [00:22:52] I believe me, my wife rules the roost. Well, Jay, thank you for your time and your leadership. I really appreciate you. And I cannot wait till our roundtable on Tuesday to talk about some serious M&A activity. [00:23:06][14.0]

Jay Young: [00:23:07] I mean, it’s going to be great. What are we gonna talk about? It? It’s going to be awesome you need to just sort of research all your all your stuff you do. [00:23:15][8.1]

Jay Young: [00:23:17] Yeah, we’ve been around Midland Travel, We’re going to Amarillo that was great, guy. I appreciate all you do for us and man, it’s just awesome. Really, really thankful for you. [00:23:27][9.8]

Stuart Turley: [00:23:27] Sounds great. I think you. [00:23:28][1.3]

Jay Young: [00:23:29] Are. You’re welcome and I think our roundtable on this is going to be awesome. [00:23:32][2.5]

Jay Young: [00:23:32] Whatever you come up with, whatever, whatever, whatever you decide on, man, we’re going to do it we will knock it out of the park. [00:23:38][5.8]

Stuart Turley: [00:23:39] It sounds great. Jay. Hey, talk to you soon. I know my guys are going to love this. [00:23:42][3.2]

Stuart Turley: [00:23:43] Thanks. [00:23:43][0.0]