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<blockquote data-quote="greybeard" data-source="post: 1786555" data-attributes="member: 18945"><p>I know of a drilling contractor that did that in 1986 when the price of oil suddenly dropped to around $12/bbl and that contractor had borrowed $$ from a Houston bank to operate while taking a percentage of the wells' production as payment. I worked for that company (which had been pokin holes in the ground since before ww2) and we all just about ended up sleepin in the street when the bank called the note.</p></blockquote><p></p>
[QUOTE="greybeard, post: 1786555, member: 18945"] I know of a drilling contractor that did that in 1986 when the price of oil suddenly dropped to around $12/bbl and that contractor had borrowed $$ from a Houston bank to operate while taking a percentage of the wells' production as payment. I worked for that company (which had been pokin holes in the ground since before ww2) and we all just about ended up sleepin in the street when the bank called the note. [/QUOTE]
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