A wildcatter's comments

The role of the US oil and gas independent has evolved over the decades. Change may have been the only constant factor since Pennsylvania drillers drilled the first US commercial oil well in 1859 (see special report beginning on p. 60).In search for an historical perspective, this writer interviewed a wildcatter who has experienced countless changes confronting the industry in his 73-year career.Michel T. Halbouty, chairman, president, and CEO of Halbouty Energy Co., Houston, acknowledged a shrinkage in the number of US oil companies."When I came into the business, there were 38 [US] major oil companies, and now there are fourellipseThose four are operating primarily overseas. We are not ...

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