You know there are things in life that are to be expected. Hard-working people enjoy working, and oil executives are happiest when they are in the field.
We had an opportunity to visit with Rey Trevino III while he was on his current rig. The well has rolled in successfully and has already had oil shipped out in production. This is exciting as we as United States citizens need low-cost oil and gas produced locally.
Pecos Opperating is a family-owned E&P operator in Fort Worth, Texas. I had the pleasure of sitting down with Rey and his dad not long ago in the Stock Yards. You can’t get any more Texan than talking oil and energy, and lunch in the stockyard.
Many of the investors he has talked to this year are concerned about taxes, and real estate. Looking at the 1031 Exchange is a great tool for the investor that people overlook sometimes.
What do you think about Taxes and the Real Estate markets? Let us know.
Rey has his podcast the “Crude Truth” at thecrudetruth.com, and you can contact him there or on his LinkedIn HERE.
Thank you R.T. for stopping by the Energy News Beat podcast. Next time, I want to be on the pad.
If you have any questions, or suggestions around the markets, please let us know. If you need a FREE e-book on the 1031 Exchange information check it out HERE.
00:00 – Intro
00:40 – We got a cold front here in North Texas today
01:21 – Tell me what you got going on out there RT?
02:09 – 50% of the oil generated in the U.S. is by privately owned companies.
02:56 – A lot of investor talks with folks that are worried about the real estate market they’re worried about the stock market, they’re worried about things
04:58 – OPEC has announced they’re going to do some more cuts
06:10 – How do people get a hold of you, RT?
07:48 – Outro
The following is an automated transcription, and we disavow any errors unless it makes us smarter or better looking.
Stuart Turley [00:00:07] Hello, Everybody, You know, Today’s just not a Great day, it’s a Fantastic Day. My Name is Stuart Turnley, President and CEO of the Sandstone Group. We got a Special Edition of the Energy News Beat Podcast.
Stuart Turley [00:00:19] I’ve got one of my great compadres, I got RT Trevino. He is ahead of you over there PACO’s Operating. And, I mean, he’s out Drilling a well today, doing what he’s happy is doing other than talking on his Podcast, The Crude Truth. Welcome, RT. How are you?
Rey Trevino [00:00:37] Oh, I’m doing well this morning, and I can’t complain. We got a cold front here in North Texas today, so it’s a real good day. Not only because of the cold front, because we’re behind me I’ve got a completion tree trying to put a well online.
Stuart Turley [00:00:51] Outstanding! You know, we’re sitting here joking before the show and, you know, you got the FR you got the Glasses. I bet you got steel toed tennis shoes on and you got the hat. The Navy man would love you as an oily. The more importantly, are you trying to be like Pete Buttigieg?
Rey Trevino [00:01:13] No, no, I don’t have my reflector vest on if I have to reflect your best song to be a little different.
Stuart Turley [00:01:19] I’ll tell you what. I’m so excited tell me what you got going on out there.
Rey Trevino [00:01:23] Oh, well, we’re the work to the first well of a new little package that we’re doing here to wrap up 2023. We’ve got at least three more wells, maybe more that we want to do this year. But we definitely got off the books three more all here in the North Texas area I don’t know if anybody still here with Fort Worth, but all just about an hour, an hour and a half west northwest forth worth.
Rey Trevino [00:01:48] So we’re just kind of staying local here, but a little bit right now and just trying to take advantage of these higher oil prices while we can. And, you know, just behind the dollars and cents, best way possible.
Stuart Turley [00:02:00] You know, transporting low cost energy to the American public is critical and having you and I have talked about this before, but it’s what 50% of the oil generated in the U.S. is by privately owned companies?
Rey Trevino [00:02:15] Yes, that is correct. You know, here and especially here in Texas, that it’s 50% or a little bit more of the oil producer here in Texas. It’s all done by small in the state. It’s like bacos country operating in the Trevino farms.
Rey Trevino [00:02:29] So shout out to everybody out there that drills, you know, four to 8 to 10 wells a year, because those are the men and women that get it done. It. No, no. Still shout out to the big majors like the Exxons and Chevron said, keep a lot of people employed. Okay. For the service companies because they’re drilling way more wells than that. But hey, they’ve got a large publicly funded money back in them while we got our back pocket back it us.
Stuart Turley [00:02:54] Well, I tell you what, I’m getting a lot of investor talks with folks that are worried about the real estate market they’re worried about the stock market, they’re worried about things. And there’s always been this question about where do I put my money in a crisis. What do you got there?
Rey Trevino [00:03:14] Well, you know, right now we’ve been in the oil and gas industry now for over 30 years as a family, and it hasn’t gone away yet. It’s been around for over a hundred years and oil is not going away.
Rey Trevino [00:03:27] I wish these, you know, these Internal Green Individuals really understood where all their products come from on a daily basis. You know, right now we’re looking at $80 oil get back to the difference between real estate stock market.
Rey Trevino [00:03:41] Well, right now, today, we’re sitting at above $80 oil we think during this administration we’re only going to go up right into least election time. And then after that, you know, we’ll see who the next President is.
Rey Trevino [00:03:54] That being said, ladies and gentlemen, oil and gas is going nowhere. We employ so many people here in the United States, in Texas and in Texas alone. Oil and gas is a third of our economy so it’s not going anywhere.
Rey Trevino [00:04:08] Worst case scenario is oil supply will go down, which then means that demand is going to go up, which unfortunately means for the American that the price is going to go up, which then means everything else will go up. But that’s not what we want.
Rey Trevino [00:04:23] We need to be drilling more wells in America right now to be compared with OPEC’s Stu to bring down the price of oil. I know that sounds crazy as an oil and gas guy say that, but I need to be drilling more wells and so does everybody else but it is very expensive right now. You know, as I said, we want to do 4 to 6 more wells we should be doing 10 to 15. But the prices to drill are just so expensive right now.
Stuart Turley [00:04:48] You know, the some of the things that I’m reading out on your substack and on your knowledge out there and David Blackmon’s as well, too, is that OPEC has announced they’re going to do some more cuts, just like you mentioned.
Stuart Turley [00:05:02] So they are looking at. Keeping that price up because it behooves them. Saudi Aramco and Saudi Arabia are having budget issues right now they have to have the oil higher. So the only way to combat that is exactly what you said. Let’s drill, baby, drill.
Rey Trevino [00:05:23] We need to your our rig count is down we’re down, I think, now. I did an interview a couple of weeks ago, but I think we’re closer closer now to 100 rigs less than last year. I know it’s over eight while the world is up over 150 rigs from this day last year. So what the American people need to know is we are putting money in foreign countries pockets going right now as the price of oil goes up.
Rey Trevino [00:05:50] Yes. As we drill more here in America, we will take advantage of the higher prices. But guess what, guys? Economics one on one, supply and demand. And that price will then go down to a manageable number that all Americans can live with on a daily basis.
Stuart Turley [00:06:06] We only got about another another minute or two here but how do people get a hold of you, RT?
Rey Trevino [00:06:13] Oh, well, I definitely want to reach out to us at PCOperating.com for PACOS Country Operating. Also, you know, I do have a LinkedIn that’s a Rey RT Trevino the third and check us out of PACOS Country Operating you and also I do have a great podcast called The Crude Truth. Please be on the lookout for even new episodes of that weekly and so very excited.
Stuart Turley [00:06:37] And the 3 Podcasters?
Rey Trevino [00:06:39] I do. I apologize. Yes, the 3 Podcasts, which is the funnest one of all. It’s with you, Stuart Turley and the great David Blackmon, and we’ve been actually now hanging out at a couple of little bars is its just lack of a better word shipping Hey okay I’ll get friendly. I’m going a great time and we’re solving the world’s problems over a pint Go round with that on 3 Podcasters Walk into a Bar.
Stuart Turley [00:07:04] I’ll tell you what, we’re going to have a blast. In fact, we may be filming this afternoon. I hope you’re in your FR there. So. Hey, I’ll tell you what. Thank you so much. Our and your Industry Thought Leadership and bringing low cost energy to the United States. Thanks, man.
Rey Trevino [00:07:19] Hey, thank you. And you know, I quoted somebody else this morning saying, I’m from the Oil and Gas Industry I’m in the reliable Energy Industry. I’m proud to be sitting were i am today.
Stuart Turley [00:07:31] It is In order to get the carbon net zero, we have to have our fuels. I think that’s pretty funny. So. All right. Hey, we’ll see you soon.
ENB Top News
ENB
Energy Dashboard
ENB Podcast
ENB Substack
