Seeking Alpha

Boom time. Is it Silicon Valley or Texas

  • Twenty-seven year old Mark Hiduke just raised $100M for his three-week old company, but he's a Texas oilman, not a tech entrepreneur. His Dallas-based PetroCore, LLC received the commitment from a local P-E firm to buy land and drill shale wells.
  • “These guys are going to be the poster children of self-made oil and gas tycoons,” says Nathen McEown, a 33-year-old accountant who organizes networking dinners. “Or they could be the poster children of how too much money is chasing deals.”
  • Known as "the great crew change," millennials - who for decades have spurned energy for other careers - are flocking back into an industry where 71% of the workforce is aged 50 or older. The University of Oklahoma's energy management program has sextupled in size to 600 over the last decade. "The shale revolution changed everything," says one of its graduates Ryan Watt, whose Addax Minerals has raised about $35M to speculate on oil.
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Comments (3)
  • bbro
    , contributor
    Comments (10697) | Send Message
     
    Sounds a little like the late 70's early 80's....Bobby...J.R. where are you??
    20 May 2014, 10:31 AM Reply Like
  • bgold1955
    , contributor
    Comments (2282) | Send Message
     
    Good luck! Easy come and could be easy go. Ask George.
    20 May 2014, 10:32 AM Reply Like
  • Jhalgren
    , contributor
    Comments (141) | Send Message
     
    Indeed, easy go with the California shale dream now imploded! We'll still need that external oil. So that means more wars. Time to rev-up renewable energy since that's where the real growth will eventually become a reality if we all live to even see it happen.
    23 May 2014, 11:52 AM Reply Like
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