Overview

Oil Capital: The History of American Oil, Wildcatters, Independents and Their Bankers The history of oilmen and the energy bankers who loan them capital is inextricably bound together. Energy bankers have reacted, adjusted and evolved alongside the same business cycles, regulatory changes and commodity-price gyrations that have challenged the generations of oilmen they banked. In many respects, however, it is remarkable how little has changed during the past 100 years in the fundamentals of lending against collateral that has been hidden underground for millions of years. Nor has there been much change in the relationship between the early wildcatters willing to risk their--and their banker's--last dime and the bankers who cautiously evaluate the oilmen and their collateral. Along with manpower, rigs and drill pipe, capital has always been a critical tool in the exploration for and development of oil and gas. From the earliest days of the industry, producers have required more start-up capital for acquisition, drilling and development of oil fields than can be generated out of cash flow from existing production. The accomplishments of oil companies were and are as dependent upon access to capital as access to the hydrocarbons they seek to exploit. This book tells the story of the enduring relationship of oil and gas producers and oil and gas bankers in the context of the evolution of the two industries.

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9780692817322

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"""Oil Capital is a well told and thoroughly researched history of the evolving relationship between American oil and gas producers and their lenders. Mr. Clark's legal training and 30 years of experience in petroleum finance give him a unique ability to crystallize this only-in-America story. This book is a must read and will remain an authoritative reference for serious students of oil and gas finance."" -Owen L. Anderson, Professor and Distinguished Oil and Gas Scholar, The University of Texas School of Law, and Kuntz Chair Emeritus and Cross Research Professor Emeritus, The University of Oklahoma College of Law ""Mr. Clark's book should be required reading for finance professionals in the energy business. He explains a century of evolution that allowed U.S. independents in the past decade to scale up tight oil and gas production and transform the global energy market."" -Bill White, Senior Advisor, Lazard Ltd.; Former Mayor of Houston and U.S. Deputy Secretary of Energy ""Mr. Clark's fast-paced, keenly interesting Oil Capital is the first book to tell the whole story of the intrepid wildcatters and the methodical bankers to whom they turn to satisfy their insatiable need for capital. It gets to the heart of one of the reasons why America continues to be among the largest suppliers of oil and gas in the world: energy finance. Told with a deep understanding of financial markets, corporate law and the oil business, Oil Capital belongs in the collection of anyone interested in American energy."" -Chris Kulander, Ph.D., Director, Oil & Gas Law Institute, South Texas College of Law ""Oil Capital is the definitive book on the history and evolution of financing the oil and gas industry by one of the foremost experts active in the business. This book should be required reading by anyone involved in the industry."" -Tim Murray, Managing Director and Head of Energy Origination, Benefit Street Partners LLC"

Oil Capital is a well told and thoroughly researched history of the evolving relationship between American oil and gas producers and their lenders. Mr. Clark's legal training and 30 years of experience in petroleum finance give him a unique ability to crystallize this only-in-America story. This book is a must read and will remain an authoritative reference for serious students of oil and gas finance. -Owen L. Anderson, Professor and Distinguished Oil and Gas Scholar, The University of Texas School of Law, and Kuntz Chair Emeritus and Cross Research Professor Emeritus, The University of Oklahoma College of Law Mr. Clark's book should be required reading for finance professionals in the energy business. He explains a century of evolution that allowed U.S. independents in the past decade to scale up tight oil and gas production and transform the global energy market. -Bill White, Senior Advisor, Lazard Ltd.; Former Mayor of Houston and U.S. Deputy Secretary of Energy Mr. Clark's fast-paced, keenly interesting Oil Capital is the first book to tell the whole story of the intrepid wildcatters and the methodical bankers to whom they turn to satisfy their insatiable need for capital. It gets to the heart of one of the reasons why America continues to be among the largest suppliers of oil and gas in the world: energy finance. Told with a deep understanding of financial markets, corporate law and the oil business, Oil Capital belongs in the collection of anyone interested in American energy. -Chris Kulander, Ph.D., Director, Oil & Gas Law Institute, South Texas College of Law Oil Capital is the definitive book on the history and evolution of financing the oil and gas industry by one of the foremost experts active in the business. This book should be required reading by anyone involved in the industry. -Tim Murray, Managing Director and Head of Energy Origination, Benefit Street Partners LLC

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