T. Boone Pickens in an interview with the Wall Street Journal said that we’ll see our stock of oil drop because rigs have been idled.  That will begin to be reflected in the price of oil in June 2015, and he expects oil prices to be up to about $70/bbl by the end of 2015.  I certainly am not privy to the information he has, but I am happy to say that the information I have run across would lead me to completely agree with him, and that I previously come to the same conclusion.

The takeaway for West Virginia mineral owners is this.  If you’re on the fence about signing a lease, and think you could wait until the end of this year or the beginning of next to sign, I think it would be a good idea to wait.