jamesvanblaricum

James Van Blaricum

James Van Blaricum, CEO of Signal Oil and Gas, has been an entrepreneur in several industries.  After becoming a medical doctor in the early seventies, Van Blaricum found that his passions were more towards pioneering and running businesses.  Signal OIl and Gas

In 1981, the bottom fell out of the oil and gas industry.  In the United States, there were over 5000 rigs in operation at the beginning of the year.  By the end of the year, there were approximately 800 remaining.  Van Blaricum sold his rigs for pennies on the dollar and maintained some small wells that were easy to operate and weathered the downturn in the market.  By the late eighties, Van Blaricum had built up another four rig drilling company and sold it to investors in 1989, effectively doubling his money. Van Blaricum’s operations were centered in the San Antonio area.  With the buyout and changing business interests, Van Blaricum moved to Las Vegas in 1992.  In 1996, Van Blaricum moved back to Texas, but this time in the Dallas area and opened Epic Oil and Gas with a partner in the winter of 1996/1997.  In 2000, he began the process of selling his interest over to his partner and created Signal Oil and Gas, which continues to operate today. James Van Blaricum

PRICE VOLATILITY

U.S. crude oil futures set a record high over $119 a barrel this week, boosted by supply worries, rising demand in China and weakness in the value of the U.S. dollar.

Such high prices are reminiscent of the 1970s and early 80s, when unrest in the Middle East curtailed oil shipments to the United States and drove prices as high as $102 a barrel by early 1980, on an inflation-adjusted basis. By 1986 prices were in decline, and by 1998, oil prices had dropped to less than $20 a barrel. Jim Van Blaricum

Fred Lawrence, spokesman for the Independent Petroleum Association of America, a national trade association headquartered in Washington, said price volatility remains a big risk, and he cautioned that the oil drilling boom could turn into a bust. Signal Oil and Gas

"There are a lot of attractive factors right now but I think a lot of the old school wildcatters might say you have to be very careful," said Lawrence. "Time and time again... it crashes."

Back in Missouri, such concerns are distant. As 40 sky-blue pumpjacks pound away at oil trapped 225 feet below the surface, Stapleton and his mixed crew of Canadian engineers and Midwestern farmhands make plans to dig more wells on 110,000 acres across southwestern Missouri, Kansas, Kentucky, Texas, and Montana.  James Van Blaricum

Stapleton said MegaWest can generate profits with prices as low as about $50 a barrel, and he has little patience for naysayers.