We read the unofficial obituary for Whitespot/Wood sometime ago, when a Britt Drive neighbor shared Carrizo’s withdrawal letter to the Texas Railroad Commission — sent two days after the election that ended Victor Carrillo’s career at the agency.
The Denton Record-Chronicle’s autopsy of the deal leaves us doubting whether the patient is truly dead. We were struck by Jana DeGrand’s comment, “I don’t think I’ve seen an operator I trust, and you get rid of one and you don’t know who’s lurking behind them.”
Read some of the bankruptcy proceedings for Reichmann to understand how inbred the industry can be. The list of Reichmann’s significant creditors includes Kerr McGee Oil & Gas, Williams Production Gulf Coast & Co., Burlington Resources, and Quicksilver Resources.
Court documents acknowledge the company had holdings in Denton County, but few of them were developed and those that were had insignificant income. Why would these operators — three of the four are top 10 producers in the Barnett Shale — mess with a small-time, poor performer in the shale like Reichmann?