Recently, Hart Energy’s Jessica Morales sat down with Noble Royalties CEO Scott Noble to find out his path. Noble said he actually wanted to be a doctor when he first started planning for a career. But a bout with a queasy stomach steered him another way. Noble began working with his father, drilling and operating wells for 12 years.
Once it was time to sell, the payout wasn’t what he expected. "That gave me the idea, should I be buying production rather than trying to find production? That is when I started buying minerals in 1997. But, I have the mindset of a driller and I think that has been a huge advantage,” said Noble.
Today, millions of employees are adjusting to remote work because of the coronavirus pandemic, which should ensure growing momentum in the oil and gas industry toward embracing new tech.
The company’s shares were down 5% after the news and have lost nearly 70% of their value this year.
Total had expected the oil price to be about $60 per barrel this year, but as the price is now about $30, it will leave the company with a much bigger shortfall, CEO Patrick Pouyanne said.