The oldest game in the oil biz is to "operate your partners to death"
Wooldridge and others must be getting paid to operate the properties.
Who benefits from this arrangement? Who is ensuring that charges are fair and work is actually being performed?
With marginal wells, even fair and just operating costs can eat up the majority of gross income. And, an operator with a little imagination can usually manage to consume just under 100% of gross income.
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