A Shale Oil CEO's Second Act: Going Green - The Wall Street Journal
A Shale Oil CEO’s Second Act: Going Green - WSJ
Dec. 17, 2023 5:30 am ET
For almost a decade, Tony Sanchez III was the epitome of a shale-boom CEO—furiously drilling oil wells, piling on debt and hunting quail and nilgai with fellow executives near his family’s ranch in South Texas.
Then tumbling oil prices and heavy debt helped send his company, Sanchez Energy, into bankruptcy in 2019.
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Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.