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Welcome to Chuck Yates Got A Job with Chuck Yates. You've now found your dysfunctional life coach, the Investor Formerly known as Prominent Businessman Chuck Yates. What's not to learn from the self-proclaimed Galactic Viceroy, who was publicly canned from a prominent private equity firm, has had enough therapy to quote Brene Brown chapter and verse and spends most days embarrassing himself on Energy Finance Twitter as @Nimblephatty.
0:18 All right. Tell me what you're up to. They're like kids out there and Todd and John are talking to them. What's going on? Yeah. So thanks to Ryan over here. He got our program off the ground
0:29 last summer. And so that's what we got to talk about in part one. And we were starting summer internship program and getting these students out in the field is super critical. So that's why we're
0:40 here again today is we started at a riots Bitcoin mining site. That's about 400 megawatt project in Corsa, Canada. And then we got to come here to your guys's office and chat with you and hear
0:53 about what you guys are doing on the AI front and then go to nape. So very cool. Yeah, it's really exciting. And some of the kids who are here worked on the project that we engaged TCU with my
1:10 company did this past summer, getting them out into the field And looking at the legacy wells that I have out there and. just seeing what options we have and kind of getting them to think outside
1:22 the box. It was really pretty cool to have them out to the field. I think it was an eye opener when you get out there. So this is so embarrassing, but since we're all such good friends at this
1:32 point, I'll just fess up on this. You know, the finance bro, they always take them out to the field, right? And it means the barbecue truck shows up. 'Cause you gotta impress the money guys,
1:43 right? Yeah, yeah. And anyway, I think I went out and bought steel toe boots the night before. I didn't know any, right? And they give me a hard hat and all. And I'm out there, and my
1:55 business partner, Mike Hines, is like the Marlboro man. I mean, he is a man's man. He ran the J field at Exxon. If you know anything about the J field, that is nasty, H2S, a mess. I mean,
2:09 Mike is just, Mike's a stud. I mean, you know, cuts a finger off. He glues it back on He's that guy, right? So we're out there and we're kind of walking around and Mike goes, What are your
2:21 first impressionsof being out in the field? And I go, Wow, it's really dirty. And he just looked at me and he goes, Dude, don't say that. The company man's going to kick your ass to be here.
2:31 So was there a moment like that with the kids or how'd they react? Yeah, I definitely think there was a moment like that because and then I'll check all back that up by it. That was my impression
2:44 when I first stepped out in the Permian, it was kind of that And you're so cool to say that even if you're lying. No, no, no, I mean,
2:52 so the gentleman who mentored me and who's wells that I helped manage, I still helped the family manage. About a couple of years before he passed away, unfortunately, age and health caught up to
3:03 him. But he had a handful of leases out in the Permian base and he was like, Hey, would you go
3:10 outand help manage these assets? And told me to call his pumper out of Big Lake That was my first time to head out west and go see this part of the Permian Basin, and you're right. I mean, you
3:24 drove around, it was kinda, now I know what my expectations, but I thought they were supposed to be, but it was kind of - It wasn't that. It wasn't that. And so for the students, I think they
3:36 kind of had that because they started the trip at the water treatment facility. Exactly, the toadfish site So they got to see new operations for the unconventional site with Deep Blue, who's moving
3:50 all the water for Diamondback. Okay. So we also got to see Diamondback's fracksite, which also was very different than obviously a 70-year-old vertical, shallow St. Andrew Swell, which is right
4:05 in San Francisco. So they've gone from that and then they have to drive about an hour south, the demonic of the woods, and see something just very different, which is in the life cycle of these
4:13 wells, just, you know, end of, end of life. And, um, and how to maintain these old wells. And so it was, I think for them that it was, I'm glad that they got to see almost that full, that
4:27 full cycle. Then yeah, we took them out to the old Santa Rita number one site, um, which is, which is always kind of a favorite part of that
4:34 story is, you know, the, the guy is importing the drilling rig in, right? And so it's, it's on the train. They unload it and it breaks down And he's like, screw it, drill. So they just
4:49 drilled, boom. And they hit it five years later. He went back and drilled his original prospect. And it was a dry hole. Yeah. There you go. I love geologists.
4:60 Exactly. So it was, yeah, I think it was a really well rounded trip for all of them. Yeah. And they asked great questions. And I think for them, it just compared to, I mean, as you know,
5:11 compared to just looking at it on maps or on, on. Topo and all that stuff to actually be out on the site and see, okay, this is where the oil flows from here to this tank facility. And it just,
5:23 I think a lot of dots got connected, which was, yeah, we've kind of had that moment because when you look at what we're doing in AI, we've got kind of our forward deployed engineers who are domain
5:34 experts. I mean, they know oil and gas and energy. And then we have our platform team, hardcore software, software nerds And we got those guys out into the field and they're like, that's a well
5:46 test. We want to see this. You know, we've been extracting that out of scout database. We don't know what that means. So yeah, that is called gimme, gimme something you heard, saw, whatever
5:59 from a kid that was surprising that maybe you didn't see coming.
6:08 Yeah, that's a good question
6:11 I think, well, for me, Personally, especially knowing that the group of kids that worked on the project
6:21 started the summer not knowing zero. Yeah, zero. I mean, not knowing much at all about oil and gas. Suburban TCU kids. Actually, Northeast. Northeast, so we have Wisconsin, Connecticut,
6:36 Colorado. There's only one Dallas, Oklahoma. Yeah, Illinois. And all business except for one. Really? Yeah And for them to have walked into the summer project,
6:48 knowing that they were starting from scratch to then being out in the field, the depth of questions they were able to ask, they were able to get there so quickly, which was great. And I guess I'll
7:04 stress, and Nikki does a great job with this as well, is making them feel comfortable to be curious and to ask questions. You never want any student to feel like stupid question or something that,
7:16 you know, there are no stupid questions like fire away because that's that's how I learn right is you just ask. I mean, you play like the five year old kid and you're like, well, why? But why?
7:25 You know, you just. And so that's how I learned was asking a lot of questions. And so I wanted them to feel comfortable asking anything that came up and and and I think through that they were able
7:36 to learn quickly and it and then by the time of the trip and then definitely by the time they kind of made their last presentation, you know, they did it at our office, no notes, slides behind
7:49 them. I mean, just incredible how quickly they were able to get into the weeds of kind of 10 weeks, 10 weeks of diving into this legacy asset study. You know, I think I think you're highlighting
8:04 something that we don't appreciate as an industry. And I don't want to be overly dramatic. but there's a bit of like, you know, we're so beat up as an industry that we're scared to say our piece.
8:22 And so many kids are just flat out curious about what we do. Colin made a TikTok video about how a drill bit works, two million views in like three weeks. And, you know, there were a couple of,
8:37 oh, you're destroying the planet type comments, but most of the comments were like, that's so cool. I had no idea And I think a lot could be done to kind of turn the, the folks more favorable
8:50 towards our industry, although it feels like it's turning, it's just basic education, right? Absolutely. So that's, I mean, that's the whole point of why we started this program, is because
9:00 it's not part of the curriculum. So even in Texas, even though Texas is, you know, a heavy energy producing state, they maybe get it once in eighth grade, and they maybe get it once in the
9:11 sophomore year of high school if they choose an elective. there's no conversation unless your family's in it, that how your lights, you know, you flip on a light switch, how that works or how
9:21 everything's made. And so that's what we're trying to do and what, back to your point about them asking questions, I think the most critical point is to get them exposed to things now and topics
9:31 and see which lane they kind of go down and what's good about TCU and being an energy institute. We're not a true company. So they don't feel threatened, they don't feel like they're competing as
9:40 much with their peers. There's a little rivalry but then they can really dive into something. And now unlike us when we went to school, information is so easy to get. Now it's a matter of Q saying
9:52 it, which we need to do at a much earlier age. They can get these concepts much earlier. You don't have to wait till higher ed to start seeing what you're doing in oil and gas. And that's what's
10:04 unfortunate 'cause a lot of these students just like myself, you don't get exposed to it till your junior year may be senior year
10:12 and if you're lucky to get in with one of these companies. So we need to work on that. Back to your point, the industry should do a better job at that. And that's what we can do as higher ed to
10:22 help facilitate that. So real quick, Rehash for people that missed the dramatic first episode was so good. Go back. This room wasn't even finished. We should have had Cliff Hanger maybe, or
10:35 something. Exactly. Who shot JR or something Rehash the commercial on what you're doing at TCU. Yeah, so absolutely. And that's the students that we have with us today. There's about 20 students.
10:48 I would say three quarters of our student population are energy business minors and are undergraduate. So they can be any major on campus. You can be marketing, political science. You can be with
10:59 the business school. You can be engineering. Well, let's not get into land, man. I mean, come on. No, that's not where we're headed on the major, but we do have students that it appeals to
11:13 many of them, and we do have a Lee and Man course now that was just started this spring because of the show. There's so many questions around what is a Lee and Management career path and what that
11:23 looks like, which is great. So with our undergrads, we focus on that. And then we do field trips, do things like this where we get folks out to Midland, we get them into Houston and to meet
11:33 industry partners. The other one is our graduate program. So it's already professionals that maybe have five to seven years of work experience and maybe want to pivot into energy. We're getting
11:44 more of those folks than necessarily like myself, a geoscience or an engineer that needs to get business acumen. We can offer that because our business school is very good and very solid and all the
11:54 students have to take the same curriculum. I mean, 60 of the classes are the same no matter what program you're in And then we complement that with energy electives. and we bring industry
12:04 professionals into the classroom to help teach and compliment what we're hearing in current events like Venezuela. I mean, things like that that we can talk about. I got that
12:15 call from my dad. Yeah. What does this mean for oil prices with Venezuela? That's exactly what people ask. And how is that gonna affect them at the pump? Right. It's not. So, not in the
12:24 nearatorium anyway. And so we get to talk about that. So we have those programs, and then with both of them, they can combine like today, where we grab a few from both, and then they get to do
12:35 field trips, or studies, and work with us at the Institute. So throughout the year now, we have 10 student workers that are working on different industry projects. So they get exposed to all the
12:47 things like with Ryan. So they don't have to wait until an internship in the summer, or after, you know, graduated, not quite sure what they want to do. Oh, cool. So how'd you get drafted into
12:58 this? Well, I.
13:03 So I'm a Baylor bear and then an SMU grad student. So I had two strikes. Maybe I shouldn't want the third strike. So I came to Nicky and I said. Now, how do you keep the Baptists from drinking
13:17 all the beer on the Christmas tree? Invite another Baptist. That's right. We had a big discussion, so I don't know if you saw my tweet the other day about old man coffee, but every morning I get
13:31 a chance to, I'm having coffee with these old guys down in Richmond. I mean, they're guys in their 90s, 80s, 70s, 'cause I wanna feel young again. But anyway, we literally had a three-week
13:45 debate that went on for hours each morning about whether Jesus was a Baptist or a Catholic. And the Baptist actually said, I can go into the Bible and find Baptists I can't find Catholic. that I
14:03 think ruled the day. But go ahead. Anyway. And everyone got along and you all finished the fishing trip, everybody. Well, you know what? You know what? I think actually happens is they all
14:14 have hearing aids and none of them have been tuned. So they actually can't hear each other talk. Yeah. So yeah, they just turn it off. They just speak over each other. Yeah, that's funny.
14:24 Exactly. Well, I, so being in Fort Worth, living in office and out of Fort Worth, it just made a lot of sense, obviously, that I've got an incredible institution right up the street. Yeah.
14:37 And TCU does a great job of
14:43 making
14:46 making Fort Worth feel like TCU is its home. Yeah, the home field. Home field, right. Cool. You know, like my kids go to TCU games all the time with their buddies And so it just, it made a lot
14:59 of sense. And I knew they had a great energy institute. And so, as I was kind of mulling on my company and the assets that I work on and I manage and then ultimately this idea of, okay, what
15:18 does the future look like for these legacy wells, low volume wells,
15:24 what are my options as an operator?
15:29 It was just easy to look up the road and go, okay, there's a lot of talent just five minutes away and
15:36 lucked out with getting to meet with Nicki and then we met at a chamber event, right? There's a Fort Worth chamber. Yeah, I asked Nicki to come speak at a chamber event and I told her what I was
15:49 working on and her eyes got big and it was like, hey, this would be great for the students that we have and that was spring. Yeah, that was spring. It basically in a month So, it was. about
16:01 four to six weeks. We all, we figured it out. We had the first meeting and then we got students to apply. We had about 20 students that showed up saying, hey, something tells me, Nikki tells me,
16:12 tells you what you're doing. And the answer is yes.
16:16 Can I just see the schedule?
16:20 I'm guessing here. It was a, it was a really cool how that came about. And because we needed to kick off something that had some legs and wasn't going to just kind of fall flat after. And with
16:34 Ryan and having a lean team, which many people do, a lot of people has shy away from getting interns because they're like, oh, it takes so much time and so much work. I get it. I mean, I always
16:44 had them in the industry. Here, it's kind of like you offset that a little bit because then we have three other folks that are very experienced in the industry that help guide the students so it's
16:56 not on just Ryan so keep him up to speed, but then we can do a lot of work behind the scenes where it's not pulling the hours every day that kind of can drain sometimes when you have interns. I mean,
17:07 many people have said, hey, love interns, but it takes too much time. Yeah. So, it's a good answer. And I'm not totally here yet. And you and I had talked about this, I think down in
17:18 Galveston. Mm-hmm. You know, if we automate kind of all of the menial workflows in the energy business with AI, how do you become the old crusty guy or the old crusty gal? And because that, you
17:34 know, you fill out regulatory forms and that's how you
17:37 learn the business. And they're, so I've been really concerned about that now that I'm the world's greatest AI salesman to the energy business. But I've been really concerned about that. I have
17:50 heard, and I do not buy this yet, But I have heard the countervailing measure is
17:58 Give me young people, screw the tribal knowledge, give me AI, and turn them loose and see what happens. Because if you think about it, I mean, the Shell Revolution was based on foregoing
18:12 convention. I mean, the person that said, let's take baby powder and shove it into a source rock, got laughed out of the room. 'Til they did it, and so being able, AI allows you to kind of
18:25 forego convention if you want and test things out on data. So it's going to be interesting. And I've got one story on this.
18:33 Supposedly, a large independent, I won't name the name, hired a data scientist who was 24, had worked for HEB, and literally oil and gas experience was put gasoline in my car. That was it.
18:49 Handed her a bunch of data and said, come back in a month, came back in a month, and actually said, If you will not allow a pumper to put their truck in reverse, you will reduce 71 of accidents
19:03 and operating expenses on your truck by 33. And they thought she was crazy. What does she know? They tried it and she was right. So I mean, maybe there is something to this. And I think there's
19:16 a lot to the skills to leverage AI properly that need to be trained And I think that's where there's still getting up to speed on the most current and what's the best thing in the use case for it.
19:31 The one thing I would say is that it can't QC. So for instance, this summer, we went through the Texas legislation, right? Lot of bills pass, Senate bills, House bills, all of this. And if
19:43 you pull exactly from the database, there's a lot of missteps and a lot of fixes that people were posting on that actually weren't part of the legislation so you knew exactly who was pulling from.
19:55 from an AI tool, so there is some QC that you have to do on years and vintage and things like that, 'cause our students came back and like, oh, they already did this in 2023. I was like, no,
20:05 but we knew that. They didn't know that, but the data that would spit out. So there is some of that, I think you're right. It's making their workflow more efficient and they can consume
20:15 information so much quicker. Just like when I was 20 years ago, you couldn't have done what we did for Ryan in eight to 10 weeks. Had we not had AI? Let's be honest, there's no way. Five
20:27 students, 40 hours a week, that's a lot of time, that's a lot of brain power.
20:33 If it's used kind of efficiently, and I think they did, it was a perfect example where they could actually get up to speed on the vocabulary and ask questions and still use the tool properly. But
20:44 you've got to have that benchmark. So how do you learn that? I think it's getting into the field. So if you complement AI plus getting into the field, then I think it's a great combination. but
20:55 they've got to be around the people that are actually making the widgets, whatever that widget is. Yeah. I don't know. No, that's interesting. And I've been bad podcast hosts and cut you off
21:06 five times. No, no, no, you're good. I like to hear myself speak, so I'm sorry about that. No, the only thing I was going to say a dad to that is because the, you know, what was, that is a
21:22 little bit more colored to the, about the project itself Kind of what was bugging me was
21:29 with these wells that I'm managing, especially in my part of the world, when you're, when you have a well that goes inactive or just the economic life of the well
21:44 is getting pretty thin.
21:48 You kind of got a sense that it's really just a binary decision. Do I work over the well and try to keep it running as long as I can, or do I plug the well and move on and no oilman wants to put
22:06 cement down the ground?
22:08 But is that really it? The
22:12 students were able to just quickly dive in on through the use of AI, but then also just, again, just asking the right questions, and
22:23 I hate to feel like I'm getting to that point, kind of that age of like, I know there's new technology out there to address these issues. I just don't know where to begin to start to look. And
22:37 they were great at starting to dig into some of the new technology that is being utilized on old well bores and old legacy wells. And so what came out of that was kind of the answer to the to the
22:54 ultimate question that we asked at the beginning of the summer was, no, it's not a binary choice. And actually, you've got a lot of different options. It's just a matter of just what works best
23:04 for that well bore. And so just the technology piece, especially Bitcoin mining huts and all the things that you're seeing that are going on out in the field, that I can speak about kind of at a
23:18 high level, but for them, they really took ownership of that And we're able to explain it to me. Well, I'm making pro formas. I mean, they have to get to the economics. So I think that comes
23:29 back to a lot of people's decision criteria. And that's why I love our business students, is they're not just understanding the tech, but then they're putting numbers and values to say, okay,
23:39 well, where's the revenue coming from? And is there a margin here? Is there gonna be a rate of return for Orion or for an X? Is it your five or is it your 10? And that's pretty cool Can AI do
23:51 that?
23:53 at some future date, but they still had to ask the questions. Right. So someone had to ask it and kind of put it in that box. And then yes, can it fill a spreadsheet? Absolutely. Can it build
24:07 out a pro format? Absolutely, but if you don't know your inputs and what the range to expect, then that's where the people kind of come into it. So I kind of, when I talk about it, if you think
24:17 of a problem as a pyramid, maybe the bottom 40 of that pyramid is just, I need to go look up and find some data. I've got a problem, I need to find some data. And then maybe the next 30 is, okay,
24:33 I got some data, and I read 20, and really it's these four, or these five. And then maybe the next 20 is, now I need to actually do some math, some calculations or whatever. And it's that top
24:47 10
24:49 of really going, Okay, yes, this rate of returns appropriate. I should do the workover, given the risk involved. Everybody wants AI to do that top 10, and it can't do that yet. It does the 90
25:03 really well. You wanna go find the data, great. You wanna sort through the data, great. You wanna do calculations, you can set all that up, but you're right. I mean, you still need the
25:13 subject matter expert. Yeah, just to make that decision I mean, 'cause every business situation is different and there's a context around it that maybe isn't tied to a number. And so that's where
25:24 it gets a little, I guess, gray. And the thing that's depressing is you look significantly younger than me and you're complaining about the great crew change and technology and I'm just like going,
25:37 oh my God, you know, 'cause the whole point of old man coffee is I feel young again and you're sitting here going, I'm getting my hearing aids in a moment. My mind is next, so. Well, I've got a
25:52 couple of kids and I already see it with them where, you know, there's all sorts of new, even just on the social media front, or you're going, what are you all talking about? I don't know, I
26:02 don't know. Where'd that come from? The only thing I've got going for me is hanging out around here, they really pushed me. So I'm now voiced to text. I'm not typing anymore. You know, they're
26:13 gonna, they're actually gonna have me clod-coding pretty soon, so it's kind of crazy. But it's good, and I don't think people realize they're so against it, and they just assume the next
26:25 generation's gonna do it. And I think the managers, and just like yourself, the people that can grapple and say, take a pause, say, I don't really understand this, but I'm gonna really start
26:36 changing habits to improve. That's where we're gonna get huge wins, because it's that next level that if they can leverage AI for some of the day-to-day things. It saves you so much time. I mean,
26:49 I get a report on Monday morning of a to-do list based on calls and emails. And I don't even have to think about it. And you go through and it saved two hours on a Monday morning. Well, and not
26:59 longer have to do. And I think as you automate these workflows, so I'm gonna pitch you on this now. As you have the kids in their automating workflows and helping you get to the point to make
27:10 decisions, that's cool and that's gonna be your ROI and that's gonna save you pick a number 25 of what you're spending or 50 or whatever. But what's really, really gonna be cool is when you get
27:25 fluent in the technology, how it works. I mean, at the end of the day, it's pattern recognition and I'll just make this up. The, I see that log signature and I see that production out in the
27:39 field. I know I can refract every well and make 10x my money on the refracts You know.
27:46 AI, go find me every one of those fields in American bid, PDP, PVA it on them. And boom, look at this. Now I got 10 fields I'm working on. 'Cause we still only get five to 10 of the oil in
27:57 place out. I mean, everybody thinks, like you're late in life wells, my mom thinks, well, it just gives up, it's last barrel. No, I don't go forever mom, it's about for a while, yeah. If
28:10 you can move the water. It's very cool. So what do you mean, sorry? That's our other mission is water, produced water is our big, I mean, that's the bottleneck. Yes, that's very true. So
28:24 what's next for the kids? So next is we'll head to the energy business conference tomorrow at NAIP. So thanks for NAIP and APL for helping sponsor. So the students get to see. Shout out to Kyle
28:37 Reynolds. Yeah. Thank you, Kyle. So it was great. and Leanne over there are APL great frogs on the team. She's awesome. Exactly, and so do that. And then we have a booth next with Switch
28:51 Energy Alliance. So I think I mentioned that on our part one. Scott Tinker's group and what they started out of Austin is great. So back to your education, energy workforce. We're partnering with
29:01 them on everything we can. Case competitions. That's the best. Yes, absolutely. And so we're gonna be next to them at the booth So come see us at 43-31, I think, is where we are in the expo.
29:14 And so the students will be there most of the day Thursday and then they'll head back to TCU on Thursday afternoon. Very cool. And then we have your happy hour. Yep. Wednesday night. Happy hour.
29:24 It's nape.
29:27 Yeah. You gotta sit 'em down and say it's a marathon. It is not a sprint. But we have ones that are not 21, so we have special. There we go. We have some QC that we have to do, But, whoa.
29:40 Yeah. We'll make it happen. Yeah. So what am I doing with Case Fan Hoth? Oh, so that's awesome. April 15th, you guys are gonna have a chat at TCU for our energy symposium. Nice. And then you
29:53 guys are gonna kick off the fireside chats. We'll have the students present right before you on their projects. So they're gonna have to get up and present to over 400 people. So we'll see how that
30:03 goes. It's gonna be awesome. And then we'll have Commissioner Jim Wright with the railroad commission up. And then we'll have, we'll end the fireside chat with Pablo Vegas, CEO of ERCOT, and
30:16 Jimmy Glott Felty. So talk about what I mean. Oh, he's awesome. I had him on the podcast once with a group. Yeah, he's really good. And he's a frog, so good frogs. Nice. And then we're gonna,
30:27 the other discussions is really around, obviously we're using natural gas to power a lot of the data centers and the high density computing and the Bitcoin mining However, nuclear. is really
30:40 gaining traction. So we have Occlo and Natura both gonna present and talk about the molten salt reactors, which is Natura, and then Occlo's small modular reactors because I think that's a really
30:51 critical piece. And the other one now - I mean, the freakin' French can do it. I mean, how hard - 70 of their power is nuclear. Well, and so we did this on BDE. I had my ex-girlfriend was
31:04 British and I would talk about Europe and she would lecture me Europe is not a Uniblock. Europe is 33 different, you know, sorry, sorry. So we actually broke down each country in Europe. We do
31:18 one or two countries a week of just what's their energy story? What do they use, what do they do? And the thing I did not appreciate that the only reason Europe could go crazy renewables like they
31:32 did is basically France is a battery. I mean, France exports 40 of the electricity it makes on any given day. Yeah. And there's so much more energy efficient per capita. Yes. So that's our other,
31:47 I mean, bottleneck outside of me. I live in Vegas. I mean too.
31:51 That's true. There's some limitations to be energy efficient. You are correct, but nuclear, so that's our other focus. And then JP Morgan, who's one of our sponsor, they'll have a panel of some
32:04 experts from them that we'll talk about, kind of big picture, investment trends, things like that, and the different energies in the energy sector, but in different domains. Nice. So it'll be a
32:14 good day. It will be a good day. It'll be a good day. It'll be open to the public or cool. Yes, open to everyone. We've already got, I think, over 50 people have already registered. So DCEO
32:23 Magazine will be there and a couple others. 50 people have registered to see me in case. Well, it hasn't really been pushed yet, so we had an article. but we'll get it. We had over 400 last year.
32:35 You guys will fill the room. I mean, I feel the room. I want to see case, but I'm gonna come on, come on. No, you guys, no, you'll bring in a crowd and we're getting a lot of traction. So
32:45 I'm super excited. I get Joe Tees the night before. Ooh, that's a great question. That's what you want if you're coming to Fort Worth. Actually, I like Lonesome. Lonesome Dove. Yeah, I mean.
32:57 That's my favorite. There's a whole Joe Tees is always a good one Well, yeah, Landman's shot at Kalman, so you got to come see the new Kalman. I know, yeah, that might be. So that could be it.
33:08 So I was up at a company that I think it's okay to name them, although I won't, where they shot the litigation scene in the
33:19 boardroom. Oh, yeah. Yeah, so I took a picture and I tweeted it out and I tagged the actress that plays the lawyer And I had to send the CEO
33:30 note. a note saying, I'm sorry, I violated our NDA, but I publicly displayed your conference room. She didn't tweet me back, so it kind of hurt. Yeah. Cool. So what have you got going on?
33:42 Anything good coming up or? Well, yeah, so this year I've kind
33:47 of set
33:51 a side, a good chunk of kind of this first to second quarter, which brings an active Wells back online I'm trying to kind of ramp some production back up.
34:03 And we were just discussing with the students this summer kind of what some areas that they could focus on and
34:14 not to get too much in the weeds and all this, but
34:18 one of the things that I'm trying to work on, Chuck, is for these end-of-life Wells, Um
34:29 how to approach and be proactive about either, if they need to be plugged to plug them, or what is that next step? And how to
34:40 have the capital for it? Right. And that makes it a proactive decision, right? I mean, I feel like, whereas you plug it out - 'Cause that's a real thing. I mean, what you're describing is a
34:55 real thing 'Cause you look at the abandoned well issue we have, you look at the orphan well issue that we have, and that's a big issue. 150, 000 wells in the state. Yeah, all over.
35:07 Sarah Stodgerner's a friend, so I hear those stats often. Oh, there you go. I said that with love, Sarah. But we don't have to talk about it every single time we get together. And I think that
35:19 the, and I get it as an operator, It is how you get to that point. And so how do you incentivize operators to be proactive about plugging wells before they get to that point of no return? Right,
35:39 so to speak. So
35:42 what incentive structures can be created to help operators be proactive about? When
35:50 you think that through and you work that through and you have some thoughts, come back and share them I think the industry would love to hear that. I think it would be huge for the industry and for
36:01 a lot of these operators who are
36:05 in, they've been in operating these some of these wells for 40 years, 30, 40 years. And now you're asking them to do something, it's a big, there's a lot of production, there's a lot of
36:19 operators who kind of fit within that those parameters And it's kind of, how can we, how can we be proactive as an industry to, to kind of help move the needle in that, in that area. Cause if,
36:31 if we don't do it, Washington DC is going to tell us how to do it and that's going to be really bad. So we're, we're leaning into this concept and you want to take it to a bigger scale, not just
36:41 with Ryan's assets, but see what that could look like across the state. Yeah. No, that's cool. Love to, love to hear what you, uh, you think about there because, you know, beginning of my
36:50 career, you never even had P and A in the reserve report. And then at some points when he says, well, we really ought to do that, but it's in 40 years. Right. And for the longest time, it's
36:60 like, Oh, well, whatever we salvage out of there is what P and A costs. And then at some point, it was the first page of the board book. All right. Which will see P and A. That's right. It's
37:11 a letter from the rapper commission. It's time. So if people want to reach out and get in touch with you, how do they do it? Uh, so that we've got a website, um, R H R oil and gascom. Um,
37:22 We've got an email there linked in.
37:26 I'm active on LinkedIn. It's by your name, just for the camera. Yeah, so Ryan Hagerty, H-A-G-G-E-R-T-Y. Cool. Or through Clyde. I mean, that's where - Oh, there we go. I like the plug.
37:37 Well, no, I will plug y'all. 'Cause yeah, I mean, that has been an incredible network and community for even for myself just to ask questions. Like, I wanted to chase some of the carbon credit
37:46 stuff and just put a message out on Collide and got a bunch of response about it. So you can find me there as well. Cool How do people find out about the Institute? LinkedIn's the best way.
37:56 Instagram or LinkedIn, so Instagram TCU Energy and then LinkedIn TCU Ralph Lowe Energy Institute. Cool. So follow us, it's up to date on every day almost now. So there's something. So yeah, I
38:11 know. Very cool. Appreciate you guys coming out.