Michael Slavin, founder of US Emerald Energy, explains his company's historical drilling success rates to Nathan Latka.
0:00 / 0:10exact quote · 10.2s
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“I started doing wells only with what's called PUD, Proved Undeveloped, and only with three D, and our hit rate went up to about 85 to 90% after”
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More from Michael Slavin
Opinion
Audiobook platforms determine retail pricing strictly based on audio length
“And the audio books, you don't make hardly any money because they will not let you set your price. They set the price for you. And it's pretty much not on how good your book is. It's just how long it is. It's just, you know, it's a horrible way to decide value…”
Michael SlavinApr 15, 2016▶ 14:17This Entrepreneur Served 10 Years in The Army, You Won't Believe What Happened Next with Michael Slavin EP 237
AssertionNot checkable as stated
Frank Nunez grew a $15,000 nursery into a $14 million business
“And if we just jump a little bit ahead, seven years later, it was worth nine million dollars, I just talked to Frank about two weeks ago. He got another offer for fourteen million.”
Michael SlavinApr 15, 2016▶ 8:47This Entrepreneur Served 10 Years in The Army, You Won't Believe What Happened Next with Michael Slavin EP 237
AssertionNot checkable as stated
Michael Slavin made his first million dollars 3.5 years after bankruptcy
“I struggled badly for seven years, lost everything. Bankrupt, foreclosure, the whole nine yards. I just, I knew I could do anything, but I just didn't quite know how. And finally, I started my own company after those seven years, and three and a half years lat…”
Michael SlavinApr 15, 2016▶ 2:08This Entrepreneur Served 10 Years in The Army, You Won't Believe What Happened Next with Michael Slavin EP 237
AssertionNot checkable as stated
Michael Slavin raised $203,000 from four investors in ten days
“I wrote a business plan over the weekend, and in the next week and a half, I raised 203,000 dollars, and that was from four people.”
Michael SlavinApr 15, 2016▶ 2:55This Entrepreneur Served 10 Years in The Army, You Won't Believe What Happened Next with Michael Slavin EP 237
AssertionNot checkable as stated
Michael Slavin lost $1.2 million on a single dry hole project
“I guess about 1.2.”
Michael SlavinApr 15, 2016▶ 7:01This Entrepreneur Served 10 Years in The Army, You Won't Believe What Happened Next with Michael Slavin EP 237
Disclosure
Michael Slavin nets $7 per book on Amazon versus $14 direct
“Amazon, when they sell a book, I make seven dollars, and when I sell it myself, there's about a four dollar cost, so I make the difference on that cost.”
Michael SlavinApr 15, 2016▶ 11:44This Entrepreneur Served 10 Years in The Army, You Won't Believe What Happened Next with Michael Slavin EP 237
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