“Are you familiar with the old saying “a Country is always prepared for the last war?” Like, everybody went into WWII really well prepared for the strategy and tactics and weaponry of WWI. But everything had changed, all the technology had changed. The kind of oil boom that I was familiar with was an oil boom of vertical bore wells spaced every 160 acres and most of them few and far between because they were going for particular salt domes or coral reefs. So I was thinking along those terms.
I had no idea that fracking and directional drilling had changed all that. So I signed a bunch of oil leases without dreaming they would cause the impacts that they cause. Without dreaming that there’d be a 97 percent success rate that would cause something like 8,000 wells to be drilled in Eastern Montana and Western North Dakota. I was operating out of information that was 30 years old and the new technology blindsided me.”