Oil and Gas Startups Podcast

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0:57 is going to be digitalwalkcutterscomenergyx X. What's going on guys welcome back. to another episode of the You Will And Yes, start us podcast. I'm here with my buddy, Luther Ott, with Barrel

1:04 Hub. What's up, man? I'm just happy to be here. Made the drive down, glad to be out of the heat. Where'd you come from, DFW? From Dallas, yeah. Okay. Are you in the Dallas side or the Fort

1:14 Worth side? Dallas. Okay. We're not on the cool side. No, the cool side. I love Fort Worth, man. I've spent a little bit of time in Dallas, surprisingly, but it's actually the place I've

1:23 probably spent the least amount of time, I think, having lived in Texas. I'm a majority of my life, I've spent a lot of time in Fort Worth, and it's a nice place, man. Yeah, if we had it to do

1:32 over again and could have, I think we would've ended up in Fort Worth. It's a little, I mean, I come from Jackson, Mississippi, so you come to Dallas and there's a Ferrari and a Range Rover in

1:46 every, you know, at every restaurant, it's just a little bit shocking, all. Jackson, I can't wait to have any of your back stories. So really quickly, let's start off with, for those who are

1:55 listening, what is Bearall up, what do you guys do? Barrel Hub is a software that

2:05 my partner and I had built

2:09 that basically brings transparency to the producers and operators in Texas. And it's, you can do it because the legislature in Texas is mandated that the transactions are public and that so that

2:30 they don't miss out on their taxes. And so it is not uncomplicated to gather all of the intel. And it is - What kind of intel are we talking about specifically?

2:44 So with Barrel Hub, I can show you every lease through oil or gas, every lease in Texas, about 45 days after the beginning of the month, I can show you. for every lease,

3:01 the volume, the gravity, the lease name,

3:05 anything you would ever wanna know about it, and which a lot of people would say they can do that, but I can also show you

3:13 the purchaser and the producer and the price paid. Bingo, that's the big thing right there. Right, so it's essentially, I mean, there are a lot of uses for it, and we're finding out all the

3:28 time from clients that the uses that we didn't think of, but

3:36 it's essentially what was built for was to bring transparency, because the producers, you know, what are you getting for your all? Well, what they're paying me. It's interesting, so it's like,

3:49 I think back to when we were in the operating game, right, we're up outside of Tulsa, and I don't remember who we worked with, energy transfer or somebody or enterprise pro. I don't remember

3:60 exactly who it was. Somebody with an E and they were in the midstream. But you really, you don't have any transparency historically into like how much should I actually be getting paid for this?

4:12 What is the actual market rate? Am I getting what Joe Bob next door with his wealth sitting? Exactly, exactly you do And. think about like real estate, you know? I don't go buy a house without

4:24 running comps. I don't sell my house without like running comps and knowing exactly what the market rate is yet. That same level of transparency is not really here and kind of upstream willing, yes.

4:36 So I'm glad you brought that up 'cause I mean, the analog I usually bring up to explain to people is you would never buy a house without checking comps, but there's no system in place to check comps.

4:48 Yeah. And I think that's

4:54 probably because the bigger dollars because the bigger dollars. are in the sort of modern age have been spent on midstream companies and who benefits from the spread. It's not the operator, right?

5:08 And so it just wasn't there. And when we started part of my mental calculus for doing this is, you know, so I'm a I've run hedge funds, private equity funds done consulting. I'm late to the

5:27 energy in my life, energy game in my life, but you know, one of the axioms is, you know, it would have been cool to be around in the gold rush, but not really if you were a gold mining. What

5:39 would have been cool is if you were selling picks and shovels, because that guy always made money, always. And I looked and the as I got into we have a consulting practice as well, where we

5:50 represent about 130 operators. And move maybe five million barrels a month on behalf. in an agency basis. And I was watching this happen. And I just couldn't believe the spread, the delta between

6:04 the high and the low in the county. I mean, it's generally around 10, which didn't make any sense for such a mature business. So I started looking for this and it wasn't there. And so I was like,

6:15 ah, fixing shovels. Nobody's done this. And when I think the very first iteration of like

6:25 a, a an email I sent to try to get somebody's attention about it. I said, you spend years of your life and millions of dollars finding a piece of property, having the scientists tell you that

6:40 there's the probabilities of there being a well down there. And then, you know, millions and millions of dollars digging the hole, setting it all up. And then you get it out of the ground.

6:51 There's no more tools. You just You just take the first offer that you get, right? Yeah, and you don't know. I mean, the best way without a tool like this, you're gonna be in a situation where

7:04 the best thing you can do is you gotta rely on what Joe Bob next door is getting paid, what he told you he's getting paid. But you can't, I mean, how reliable is that? And then what's his gravity

7:19 and what are his transportation costs and how good a negotiator is he? So, you know, this is the, it was built again for the operator to at a reasonable price, which by the way, they pass on

7:35 through the LOE. It's not like it's coming out of your pocket to be able to compare in the county. And, you know, I'll ask you, like in a middle, in a middling size county in Texas,

7:51 you know, Carnes County, what would you say? purchasers, do you think there are?

7:58 Six, closer to 25. Wow. Active in the county. And in the biggest counties, there are even more. And so that's an example of,

8:12 you don't have the information. And there are plenty of examples I can show you where,

8:19 it's informative to look What we do when we

8:25 formulate, it's hard to gather at all. And then you have to do all this calculation on the back end to get it to sort of speak to each other. And then the final sort of part of the cleaning process

8:36 is to put it in a consumable fashion. And thank God, I'm just smart enough to find people smarter, smarter than me to be able to do this 'cause I couldn't have done it

8:50 We sort everything in a county. the same month from highest to lowest per barrel. And so it's really, you know, the knee jerk thing to do is just to go to the top and like, oh my God, I can't

9:04 believe. I know that guy. He's right down the road. How in the hell is he getting that? Well, it's also informative to go to the bottom, which is what we found from the early clients. So the

9:17 first two clients we got, the first guy is this one of my favorite people is this whole guy down in San Antonio. I love him. And he did it, I think, just because he were buddies and he didn't

9:32 know what he was doing and or what he was getting into.

9:36 But about two weeks after he had it, I didn't even think he could turn on a computer. He calls me and says, Hey, do you have a testimonial site on the website? And I said, I don't know. Do I

9:46 need one? And he goes, You do because I'll never be without this as long as you have it. And I said, Why? And he goes, 'Cause I just made 50, 000 with one phone call. Wow. I said, How'd you

9:57 do that? He said, Well, I didn't know that this other, there was a better purchaser. He's big in this county. And he said, I didn't know there was another purchaser in the county. And after

10:10 looking at it, I just called my guy who I was selling to and said, You're a place manager? Yeah, beat it. Yeah, 'cause I don't care which guy I'm selling to And so one phone call and he got away

10:23 and then the second guy called and

10:28 maybe a month after having it and said, are y'all set up to like take an override or anything? I said, No, we haven't ever considered it why. And he said, Because we have been poking around on

10:44 the bottom of the county and we just picked up 5.

10:51 about buying this guy's asset because he doesn't know that there's a 10 spread. Ooh, that's almost like an entirely new one. We bought us production. Entirely do business model, like you're not

11:01 getting all the AB. And juice from the squeeze, go in and acquire, use a tool like that. Get paid, which should get paid. Right, wow. Exactly. And

11:12 so, you know, I'm sure there will be plenty of - Maybe we just shouldn't tell anybody about this. You and I just go out and just set a big EP.

11:20 That's a thought, it's been brought up before. Yeah. Oh man, I love when you reached out, you know, I see so many people reach out and they have different technologies and when I come on the

11:30 podcast and talk about it and stuff and this is one of the things that as soon as you told me what you did, I was like, it was light bulb and say it's obviously a problem. I'm just so surprised

11:40 that nobody had created anything. Like prior to this, it's just kind of like a known thing but I think it's absolutely, it's simple yet. I truly do think it's like game changing for these

11:53 companies. So let's talk about, obviously you have Barrel Hub now, Group and Jackson, Mississippi, worked in hedge funds somewhere along the way. Give me a little bit of your story, give me a

11:60 little backstory. So,

12:04 yeah, grew up in Mississippi, went to a small school, played sports in college, and baseball specifically. And actually, that's how I end up with Barrel Hub because my roommate in college and my

12:20 roommate for four years, and the rotation and the pitching staff was a guy named Lee Vendig, and we've been best for instance, we were 18. And he is from Dallas, and his dad was a big, kind of

12:36 historic Dallas oil and gas lawyer, and Lee went to

12:44 law school and then ended up in the old business So we'll circle back to that. but we have never lost touch. I

12:53 went to grad school at LSU 'cause I was able to, I didn't know what else to do. I was an idiot. And

13:02 I was able to go to grad school and work with the baseball thought I which, team

13:10 was cool to be able to stay around the game. I wasn't good enough to keep playing, but maybe I was good enough to be around it

13:18 And did that for a couple of years and lived in New Orleans, but commuted to Baton Rouge for that.

13:24 After that, moved home and went into like a wealth management

13:30 job with Solomon Smith Barney in Mississippi. Wonderful people, but I

13:38 wasn't for me. I didn't want to sit and make cold calls and try to talk people into giving me their money. I was interested in how it worked. And so, Yeah, pretty short order I ended up leaving

13:52 to start a hedge fund and this, you know, middling student Redneck from Mississippi ended up starting one of the first behavioral finance statistical arbitrage hedge funds in New York with, you

14:09 know, like I said, I've done this over and over where I just, I'm not the smart guy, but I can identify the smart guy. So I had a partner, I found a partner who was a PhD in computational

14:21 finance from Carnegie Mellon. And we built models that didn't look at the normal metrics,

14:34 price to earnings and things like that. We just looked at how people were going to react to different stimuli in the market. And then we bet on the stimuli or on the reaction to the stimulus.

14:50 I got probably

14:53 2003, we did it for a while, and

14:58 I'd love to tell you how it ended, but

15:01 I signed a document saying I wouldn't. We sold somewhere able to sell some of the algorithms, and I moved on, and

15:12 I moved on From there, basically, my family has a

15:21 chicken business, and that's not where I was expecting this conversation. Yeah, well, so my grandfather is a guy that started Sanderson Farms, that just became Wayne Sanderson Farms, and my

15:39 grandfather had passed, and the estate was settling, and so I kind of came back to help settle the estate and set up a sort of a.

15:48 work with my dad to where it set up a family office, a little investment office for the family, and did that for, you know, one minute longer than I needed to, and then I needed to stop that,

15:60 because it's good to work. I like to work, I like to work hard, but I'd rather those relationships be good, and it's too hard to do it with, you know, it's hard to people than your love, and

16:12 you're really close to. And so we all valued that more than, we valued the working relationship. So,

16:21 I got invited from there to join some friends who were gonna start a private equity fund, did that, and, you know, it was a real estate private equity fund, and my job was sort of to

16:37 institutionalize the process, because these guys had a really good idea that nobody had done before, but they didn't have any experience building an investment vehicle and then a company and how to

16:50 get investors and do all of that. So that was sort of my role. And I did that and we went out and were lucky and got funded quickly And unfortunately it was a real estate

17:13 private acquisition company that got funded in the beginning of like the spring of 2008. So about six months. Yeah, awesome. About six months in

17:29 The head of the sponsor, the capital sponsor called me and said,

17:35 I've got, you know, you're in fund 12. I've got 11 other vehicles trying to find hunt me down to choke me No.

17:47 I can't, I just don't have time for this right now. I need to

17:52 turn it off. And I said, Honestly, I was expecting your call three months ago. I'm surprised it took you this long. I get it, you know, he kind of concludes with, If you ever wanna do anything

18:03 else, call me. And so we're still friends. And

18:09 so from there, I had an opportunity to move to Dallas, a friend of mine was running a sort of

18:18 mix between a hedge fund and a private equity fund. It was a fund of hedge funds. It also had a private equity component. And he had been in the right place at the right time. It was a really

18:31 smart guy. And we came over to be his partner and we grew that business really successfully for about 10 or 11 years

18:43 at some point. those businesses kind of plateau. And when it plateaued, I can, you know, I can create it or I can kill it, but I can't babysit. I just don't have the personality to do that.

18:57 And we were at that level where it was just kind of come in and make sure that trains were running on time and my feet fall asleep. I couldn't, I was no good at that. So I'm

19:11 still involved and really close with those people, but not doing that anymore. So I started taking some consulting gigs because I was,

19:22 I realized, you know, kind of late in my 40s, I guess, that a lot of what I was, I'm okay doing, people find really distasteful. Like, it's not the starting so much, 'cause it's always really

19:38 exciting But the dirty part of going in and being, the bad guy or the hard guy and

19:51 I have some screw missing and I tend to say what other people are thinking and so I was brought in a few times to and that was really cool because I mean I didn't make a lot of friends with the other

20:01 side but I did learn a lot I mean I got to do some stuff with NASA and Jet Propulsion Labs and AI like 10 years ago

20:10 and you know again startling this sort of neck from Mississippi is in the in the Jet Propulsion's lab is kind of the arbiter of which way they're going to go with something you know the world is

20:22 comical like that and then from there I kind of morphed into I'm on a few boards own up stakes in a few companies with a couple of different friends and then so I've got four kids and my third

20:42 daughter went off to college. And my son is in boarding school. So about a year ago, we look up and it's just the two of us. And I mean, my wife is the best thing, but she doesn't want me in the

20:58 house all day and certainly not sitting there just trading on my own and going to board meetings sometimes. So

21:08 I was having lunch with actually playing golf with Lee and

21:13 he's like, it's come sit with me. And he's involved in this. He has his consulting practice where he represents the operators and then, which he'd been doing for like 15 years and those guys love

21:26 him. And then he's the - Which is a consultative firm called? It's called the LDV, oil and gas consulting in Dallas.

21:34 And then he is also, it was also a part of a green hydrogen company that was one he was one of the founders of. And so I go and start officeing with them. I'm not thinking anything's gonna happen.

21:46 But just the way my brain works, I'm hearing and I'm seeing, and I don't can't do the things that they're doing, but I can see where they're messing up, you know, where they're not doing things.

21:58 Or, you know, oops. Didn't you mean to grab that on your way out?

22:04 And so we eventually, I start trying to fix a few things for Lee, which turns into, now I'm a partner in LDB.

22:18 And then mostly kind of business optimization stuff. Right? I can't do what he does. I just, it'd take me forever to catch up.

22:29 But in the, and then, and then I'm now on the board and of the hydrogen company as well. But in the process of getting involved in LDB, that he's doing a lot of this stuff sort of long-hand, and

22:44 that's why he has an advantage as a consultant. And the more I saw it, I was like,

22:52 Why hasn't someone done this? And he said, Well, it's really time-consuming, just for his clients. And so, I'm just dumb enough to realize that, but I can stick to it. I can't program to build

23:11 the thing that we've built, but I can stick to it, kind of go back to the hedge fund with this DadArb stuff. I'm not supposed to be able to understand that, but I'm stubborn, and so I like to

23:23 grind on things. So, I found this CTO who was a kid out of Texas Tech who is twice as smart and good-looking as I am and also really young and energetic and has great ideas. together we just

23:41 grounded out and built this thing and now we're just trying to get the word out. Was the idea originally just to kind of build a tool for your own use internally? Did it kind of be able to help the

23:53 clients? Or was it always like, nah, I think we commercialize this? Well, you'd have to leave my give you a different answer but my idea was that I just couldn't believe that it didn't exist And

24:08 it was worth spending some time and money trying to figure out if it's doable. And it's daunting. I mean, I was telling you earlier, I

24:20 had to write this down so I would remember. But on any given month,

24:27 we have 60, 000 - we have details on 60, 000. So it's June 20th I've got six, I've got data on 60, 000 leases already for May.

24:47 And there are 13, 200, 000 cells of data and that are calculated to -

24:55 when you see the output in the consumable way, there's 15 million calculations to give or take that have to happen every month behind the scenes for you to be able to see that.

25:06 And part of my hesitation when we talked before about doing this, I know I need to get the word out. I've never had a commercial business where I had to be the sales guy before or try to get the

25:18 word out for something like this, where I had a product, like a SaaS product. But

25:25 one of my hesitations was I was worried about somebody coming in and trying to catch us. But the more I worried about that, the more people kept telling me, look, if it was easy, Somebody would

25:39 have done this a long time ago.

25:42 And they can try and catch us, but we're ahead. And I think luckily for you, I think it sells itself. As soon as you described it to me, I said, Yeah, that's

25:55 an obvious, huge value proposition to anybody. Yeah. And we made it, purposefully, it's a subscription model. So I'm not holding anybody hostage. It's a six month commitment, it's 1, 000 a

26:08 month I mean, it's not, the whole thing is, like, how do I make it easy to say yes? Because again, if somebody's taking advantage of me, what I'm told most frequently is, you're way

26:19 underpricing this. Like something like this should be - That was my initial good reaction. Yeah. That's four times what it's caused. But I'm not trying to set the world on fire with it. I think

26:29 it's, I think that any operator that will take or producer that will sit down with an open mind and that there's a. possibility that there's a way to view the world in a way that he hasn't seen

26:42 before. Yeah, I just don't see how you can look at it and not go, I didn't know you could do this. This is different, you know? I want all the information. Have you given more thought to the

26:55 override kind of conversation? 'Cause I could see, I mean, a thousand dollars a month, I mean, that's

27:01 like super cheap, right, for the value that you're providing to these clients But yeah, I mean, you could build up a nice little, poor portfolio of overrides if, particularly you're just

27:14 capturing the upside that you're providing with a tool. Well, look, if people want to approach me, I'm open for business. But, you know, I don't know enough being new to the oil and gas game

27:26 tech, really. I'm fairly familiar with negotiating deals, but I would be, you know. outmatched on the way in and this because I just don't know what I don't know about how to do it, how to how

27:44 to do that and what's a fair deal and and what's not. But I mean, I would certainly be open to it because this is not a we're not we're self funded. We're not bad. I don't know anybody anything.

27:56 So we're not have to answer to anybody else. So if there's a better way to, you know, to do it. I mean, we have been approached recently by

28:06 a purchaser who, you know, the midstream guys and the purchasers aren't the biggest fans of this. Do they threaten to take out your kneecows? Well, it's coming. I mean, the very first guy we

28:17 ever told him, you know, with a horse head in your bed was one of our first clients. And he said, we were down at nape. And he said, we're at dinner. And I just opened my computer and showed

28:26 him what it what it was And he said, Well, I hope the dog can sleep inside. I said, what are you talking about me? What's that mean? Somebody's going to come get that dog. Somebody's going to

28:38 come kill your dog over this. They're going to be mad. And but, you know, look, I'm kind of a student of business and kind of writ large, whatever it is. And this is what happens, you know,

28:54 it's just sort of blocking and tackling innovation and it

28:60 was going to happen sooner or later And margins get compressed and the winners win and the guys who are going to be the maddest or the guys who are buying

29:13 from that guy at the bottom, you know, and they wonder why they can't ever. It's, I mean, it's kind of, you've seen it. You've seen the, let's use it and Verus is a great example. You know,

29:25 starting off as drilling info and taking public data that you can go and find The recognition website or the. OCC website, but taking it and putting it into a way where it's easily consumed and

29:39 you're combining all the different states and then adding more and more and more and more intel for the end users and now they're a 7 billion company. They are the behemoth. You can't be an oil and

29:50 gas company and not subscribe to it's either in various or well database, but you need that data one way or another I just don't say this often, but I think that barrel hub also fits that it's going

30:05 to be absolutely essential to make sure you're getting paid what you need to be paid. It's a very simple concept. It's a very hard execution to actually pull off, but I see it as being just

30:15 extremely valuable Yeah, I mean, look, I would, I would, I have nothing but respect for this, for, for, and risk specifically and to

30:30 have in no way am I, do I want to consider a barrel hub competition, right, with those guys, it would be a fool's errand to do that.

30:43 But I think it's, you know, an creative bolt-on

30:50 type of tool that is,

30:54 I mean, it's not the same thing. It's just, and,

31:03 and, you know, when we go back to the pricing proposition, the one of the reasons that I did the price, we settled on the price was,

31:15 you know, if I came out and was charging 10, 000 a month and was set in the world on fire, and there was a waiting list to get in. Yeah, there'd be five people out there trying to recreate it to

31:28 catch me. But at 1, 000 a month, I mean And 1, 000 a month, I mean. you'd have a hard time convincing your capital commitments committee to go spend a million dollars on engineers to compete

31:40 with me because you could just get it from me. So that leads me to my next great question would be, it's like, what are the ambitions? Like, what do you want Barrowhub to be to say? I mean, now

31:54 you've had a successful career for like a multiple times over. So does this become more of a,

31:60 you know, a lifestyle business in a way? Or is it, do you continue to grow this into, you know, mid-sized company, large company? I don't know. Where's your head at? Well, remember when I

32:13 said I'm good at building and you're killing it? Yeah. But not the babysitting part. I'm a little lost on that, if I'm being honest.

32:21 We're batting around ideas, like do we hire a sales guy? You know, I mean, you kind of, with the downside of the product is. largely me, 'cause I don't know how to put it in a form to make it

32:37 easy for everybody to know about. I don't know anything about getting it out to the masses, right?

32:45 And I don't come from the, I

32:50 don't have a background where I have a Rolodex full of all the operators

32:59 So

33:02 what we do from here, do we hire a salesperson? How do we get the word out right now? The way it's done is because I don't know how to tell Taylor to build a tool to make it really easy to

33:18 understand what it is without doing a demo. And so

33:23 my immediate goals are to get more ability to give demos. I love doing that because I love, I mean, I've been in a lot of different businesses and been inside of a lot of different businesses, but

33:37 this is the first one where I mean, I honestly feel like I'm doing you a favor when you're doing the demo, because I don't do one. Well, so there's two demos that happen. One is if I get on the

33:52 phone with the marketing guy, from the operator, he says wow, this is great. This is great, let me call you back. And then he burns my phone number and somehow blocks barrel up from this.

34:08 Because maybe he didn't get the best purchasing agreement and now his job's in line. Well, he couldn't, I mean, the thing is, and I try to say to him before they hang up on me, that

34:19 without the tool, I'm sure you did everything. You could, and you know so much more about this than I do. And I'm not trying to compete with that This is just like another tool. And yeah, it

34:31 might. not look great that when you go to your county with the most volume,

34:40 you're

34:42 100 down the line and you're not where you've kind of made it sound like you were getting everything you could get. But

34:52 long-term, you're much better off having the tool and being able to get the best price you can get. And I'm only trying to make you look better, not worse.

35:04 But then we get the boss on the guy who owns the economics. And if you're the CFO or the CEO and you see it, I mean, that meeting only goes one way. The guy starts the call and as I'm pulling it

35:14 up, he says, Well, I appreciate the ability you show me this and this is I've heard great things, but I mean, we're really good at this part. I mean, I'm sure we're getting top down. And I say,

35:26 Okay, yeah, well, I already know. Are you able to pull up exactly what 100. I can do it right now. I can show you what any, you tell me any operator, any lease, I can tell you what the volume

35:37 was from any month, what the gravity was, who they sold it to. I got the lat longs. I've got a map so you can calculate the detox. I can tell you whether it was truck or piped.

35:49 And those are just the things that I put we put in the HTML on the website. You

35:58 have to choose, select the things because there's limited real estate in the HTML version. So another thing that we've done is

36:11 people are especially old schoolers are used to just work in all this through Excel. And we kept having people say, well, can we get it in Excel? And

36:24 we wanted to accommodate them, but also I have a lot of money and that

36:31 the IP here and I don't want to just give it away so that it can be shared all over creation. So I was hesitant to do it. Eventually, we found a

36:45 third party solution where there's a data room that we've created. So from

36:52 the website, once you're signed in and you're in your dashboard, you can choose to view it in the HTML, which is really slick and fast. Or you can go by county, you can select by any of those.

37:06 Bless you. You can select by any of those variables, or you can choose to go to the data room. If you go to the data room, you can

37:18 download a local copy of any month in Excel. Now, I did it that way because it's watermarked and you can't copy and paste.

37:30 and you can't print it. So as protected as I can be, while still trying to provide the best service, so that you can do a month at a time like that. So two questions, first question would be, so

37:42 you said you're in Texas exclusively right now. Okay, so any plans to move to the other states? Yeah, if I had

37:54 a sales engine in place, so that I'd, such that I didn't have to worry about that part.

38:05 I would, I really liked the puzzle building piece of this, and I would love to go investigate and try to figure out how to do it in other states. You know, it would be - Look at your obligation

38:18 now. We can start here and work out, right? I'd like to do New Mexico, Oklahoma, and then Louisiana. You gotta get those infinity stones, man. You got Texas, you gotta put the other ones in,

38:27 Get a beautiful home, get Louisiana. Yeah. Well, you know, Texas is different because of the, and it's not Reddit. I mean, even if I told, when I say it's different, it's

38:42 out there, or I wouldn't have barrel up, but it's out there because it has to be out there, but it's not out there in a way that they are encouraging you to find it. As a matter of fact, I could

38:54 tell you where, I mean, there's one really obscure thing, like the pricing part, and you have to know 50 things before it means anything, and I could tell you where to look for it, and it'd take

39:07 you a week to find it. It's just, it's not meant to be found. It's there because it has to be, because the legislature said it had to be, but it's very obscure.

39:19 Now, it's not obvious in a preliminary check if in New Mexico, Oklahoma, Louisiana, if it's possible I'm.

39:31 That doesn't mean it's not doable. I just haven't been able to dig

39:38 into it yet. So what if somebody, a lot of other within gas companies use one or two things, right? So they're either subscribers to typical spot fire visualization or like a Microsoft Power BI,

39:49 right? Do you allow the users to be able to take an idea to like put it into their own visualization like as long as a subscriber or do you do that again? As not to come up, if

40:02 it would not be with the standard, I wouldn't think it would be with the standard licensure. That would be a separately negotiated deal if you came in and were a big company and you wanted to do

40:15 that. We would, I would be happy to have a discussion about a separate licensing agreement or even a white label agreement if there's somebody out there with a software suite that this would work

40:29 for. Who are who has the sales part figured out? I mean, I don't I really mean the exciting part of doing this to me is I've done Mm-hmm is is getting it here. It's like a kid. You know, I mean,

40:42 I'm really proud of it It's because I didn't know that I could do this I say I we could do it as a team, but But I'm open

40:55 to do we To to whatever and if somebody if there's a if there's a way to use it that I haven't thought of which Almost certainly there is because I'm in the dumbest guy in the room. I don't know

41:03 anything about it. Well, and gas Before a couple years ago other than sort of your yeah, you know, certainly nothing more

41:11 than your An average sort of 25-year investor guy might know, you know, I might pick up but the nuance

41:21 What I don't I don't profess to be an expert I love that man. So where can we go to to find out more? Is it your website, berylhubcom, or? Well, I wish. So

41:32 wish, yes, there's

41:36 a guy that is, I've tried to make my friend up in Maine of all places who refurbishes barrels. Maybe actually this is a good thing. A company called River Drive, he ends a company that refurbishes

41:52 oak barrels for spirits, right, and wine And he bought all these URLs for redirecting, which I didn't even know was a thing. And I found it and have called him and tried to offer him, you know,

42:07 good human points for letting me have barrelhubcom 'cause he's not using it. But we have, it's barrelhubco and barrelhubco. So

42:19 the consulting site is ldbconsultingcom, but barrelhubco is the,

42:25 And then if you go to barrelhubco and you know, you don't want to call and you want to see what it is, there's a little video at the top that kind of explains what's going on. And then if you

42:37 scroll down the page, you'll see a snapshot with some redacted information about

42:46 how the gas works and then how the crude works. And you know, we haven't talked about the gas because, you know, I know even less about the gas. And as to how to talk about it, I mean, I kind

42:58 of can tell you, if you're a producer, how I would show you how to make money with it, right? What we do in the consulting room. But with the gas, there's so much more information. I mean,

43:13 when I pull down, when we pull down the data, it doesn't say crude and gravity It says, you know, condensate.

43:26 residual gas, lease use. I mean, there's like six categories. And so it's a whole other animal, but people asked for it. We actually, we just, we did the crude and then they asked for the gas.

43:40 And it, this, it was the same function to do it. And so I did it, but I'm not sure exactly how it's, how it's going to be used. But yeah, barrelhubco and

43:53 you can get a lot of information from there. Or, you know, shoot me an email. I'd love to talk about it. Awesome, man. We're about to have you recorded in 1DW Insight. So if you're a

44:02 subscriber, if your company's a subscriber to the DDW Insight, you can go in there and see the demo. A barrelhub, find out more information about them, this podcast will obviously be on there as

44:11 well. So, Luther Band, thanks for making the, thanks for making the trip down, man. This has been great. I, I see a very fruitful future for you guys. This is something that, that sells

44:20 itself Well, I appreciate it. Thanks for having me on. Absolutely, man. I guess if you liked the episode, take two seconds, send it to your friends, leave us a rating review, and we will

44:29 catch you guys on the next episode.