ARLINGTON, TX / ACCESSWIRE / September 10, 2020 / President and CEO of Norwood Energy Corp., Grant Norwood, shares 3 principles that are driving the success of oil and gas exploration in an economic downturn.
In 2016, Grant Norwood began Norwood Energy Corp. with the goal of buying and selling minerals in house. The company quickly expanded to the consolidation of family assets and presently provide a variety of Oil & Gas related services including Land & Title, Due Diligence, Oil & Gas Exploration, Consulting, and providing capital for Oil & Gas projects. Norwood Energy Corp's customer-focused, compassionate, sustainable approach instantly set them apart from competitors. Over the next 4 years, Norwood partnered with individuals, families, and businesses to provide both exceptional support and profitability for mineral owners. From the inception of the corporation, Norwood has operated off of three main principles. When 2020's unexpected economic crisis rocked the nation, Norwood remained firm in his principles, a decision that has contributed to both the company and the client's success and allowed for the sustentation of profitability while other industries struggled to remain afloat.
Remain a low-cost operation: Accordion to Norwood, water is the harrowing enemy of oil & gas profitability margins. For example, if a well is bringing in 300 barrels of oil but simultaneously pulling in 1000 barrels of water, which must be transported and disposed of, the costs will add up, resulting in a very low margin. For this reason, Norwood advises being mindful of the location of the well site, and ensure that there is an outlet to dispose of water nearby.
High oil production rates: Historically, North Dakota, Texas, and New Mexico were thought to be the oil "hot spots." Companies are often given large amounts of capital to drill in such locations simply because of their reputation but often end up bankrupt if resources can't be produced economically. Norwood however, takes an agnostic approach to his operation location. He keeps his focus clear, unswayed by location reputation, "If I put a dollar into the ground what will come back out?"
Return OF capital is equally important to return ON capital: Norwood utilizes an analogy of a broom seller, when speaking on the shale industry. If the broom-maker is selling broomsticks for $1 would they want to build the devices for .25 cents or .75 cents, before you factor in the additional expenses? The project has to make economic sense at the current commodity price and well below it, because the price is beyond anyone's control. In the same way, Norwood and his team ensure that they are currently seeing a direct return on investment on the funds they have allocated to programs.
When entering into any new partnership with a client, family, or business, Norwood Energy Corp. is committed to upholding a high standard. These standards, alongside their business principles, continue to set the corporation apart from competitors. Firstly, Norwood and his team are ambitious in their goal of profitably producing American energy. Utilizing research, analytics, and industry connections, they are committed to getting the job done.
Secondly, Norwood Energy is dedicated to protecting both investors and clients from both industry risks and larger oil companies that may try to take advantage and withhold due equity. On this same thread, Norwood Energy remains committed to fostering shared success. For many, breaking into the oil & gas industry can be very difficult, if not impossible. Norwood has created an environment in which the barrier of entry is lowered, and new clients can break into an industry that they otherwise would not have the opportunity to experience. Lastly, Norwood Energy is dedicated to tackling environmental challenges. There is no question that there are environmental politics surrounding the oil and gas industry. But unlike some larger companies, Norwood & operating partners never abandon a location. Rather, Norwood enters into each new opportunity with a clear reclamation plan before ever setting a bit to dirt. The goal is to return the surface back to its original state without leaving a large footprint.
For individuals or businesses interested in entering into the lucrative industry of minerals, and families in need of targeted expertise and advice, look no further than Norwood Energy Corp.
CONTACT:
Contact Name: Grant Norwood
Business Name: Norwood Energy Corp.
Address: 1201 East Rd to Six Flags, Ste. 105 Arlington, TX 76011
Phone Number: 817.600.4246
Website Link: http://www.norwoodenergycorp.com/
Send Email
SOURCE: Grant Norwood
View source version on accesswire.com:
https://www.accesswire.com/605354/Norwood-Energy-Corp-Oil-Gas-Exploration-How-to-Remain-Successful-in-2020
