Some experts in the energy industry argued that the hydrocarbon reserves in the United States had been exhausted. According to them, there was a possibility of the nation becoming completely dependent on other oil exporting countries in the near future. Years later, new technology which included horizontal drilling and hydraulic fracturing was developed and that helped to discover new reserves with high potential.
The technology also helped the firms in the industry to reduce the cost of labor and the level of production. The first investors’ earned good returns from that development. Initially, the extraction of those reserves was considered economically infeasible.
Some of the oil extractors discovered that there were large reserves of oil in various parts of North America in hard shale and sandstones. The new oil discoveries have had a positive impact on the country’s economy. Matthew Fleeger has spent many years in various oil fields in the country.
Matthew’s father is the pioneer of the Gulf Coast Western firm which has been operational for the last 48 years. Just like his father, Matthew Fleeger had good entrepreneurial skills and that helped him to start and operate two businesses which he sold later. He later rejoined Gulf Coast Western where he currently works as its Chief Executive Officer.
During his tenure, he has helped the company to grow despite hard economic times and is currently ranked as one of the most profitable ventures in the industry. One of the main reasons why the oil company has experienced good returns is the vast experience that the firm and its management team has had over the years. Michael Fleeger is knowledgeable in oil operations. He has played a key role in the formation of partnerships with various stakeholders in the industry. He has helped the organization to acquire and employ modern technology in its operations.
SWball December 31, 2018
Posted In: Businessman