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An Inside Look Into Investing in Mineral Rights
Manage episode 403621407 series 3551365
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In this episode of Business Blindsports, we're venturing into the often-overlooked world of mineral rights with Blake Harris, a seasoned oil and gas entrepreneur with a transformative career story.
Blake shares how his journey began in the heart of Texas, where his early career as a landman and a turn of events in the oil industry sparked his ambition to own and operate in the mineral rights sector. Blake shares how his first deal didn't go at all as anticipated. However, instead of causing him to back out of the industry, he dug deeper, figured out what went wrong, and mitigated the risks in his second deal so it didn't happen again.
They also discuss Blake's evolution from short-term transactions to embracing a more robust, long-term investment philosophy, exhibiting the patience and passion it takes to build a lasting business and now fund in the oil and gas sector.
Key Topics:
- How Blake started as a Pumper in an oil field
- A Landman's role in US mineral rights ownership
- How the Landman secures leases, company lays off workers
- The first oil deal that fell apart
- Understanding what went wrong in the first deal
- Anticipated drill schedule not met, revenue affected
- How the first opportunity lead to learning opportunities and self-discovery
- Why Blake Became obsessed with owning oil and gas
- Stories about some of the sellers
- Diverse property owners impact mineral buyers' challenges
- Why Mineral owners are advised never to sell their minerals
- How to make decisions based on economic value added
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