Although modern oil companies operate in a very different world from that of the villainous oil baron JR Ewing, the fictional Texan character can still offer investors some inspiration or act as warning in an industry where share prices can soar or crash in a day, depending on whether an explorer strikes oil or comes up dry. Explorers love to frequently trumpet exciting prospects. The dirty truth, however, is that the typical success rate is just one in seven wells. Yet, even that grim statistic might be getting worse. Just a week ago, IHS Markit released an alarming report portending doom and gloom for the oil and gas industries. According to the numerical navel gazer, conventional oil and gas discoveries over the past three years have hit their lowest levels in 70 years. What’s more, no significant rebound is in sight. The report blames persistently low oil and gas […]