''We never dealt with a bank that was trying to give money away."
J.D. (Jakie) Sandefer, Sandefer Oil & Gas Inc.
It's a long way from a one-man operation in Breckenridge, Texas, to heading up a 145 person organization on the 23rd floor of the First City Tower in Houston. J.D. (“Jakey”) Sandefer, III managed to pull it off without getting all impressed with himself.
A second-generation oilman, Sandefer is founder and head of privately held Sandefer Oil & Gas, Inc. He's been knocking around the Texas oilpatch since 1959, when he graduated from the University of Oklahoma with a business degree. From ‘59 through ' 75, it was a seat-of-the-pants show. On a ''deal-by-deal'' basis, he figures he was involved in 300 to 400 wells during that time frame.
“The money’s out there, but anybody who ever says it’s easy to raise ….just hasn’t done it.” J.D. “Jakie” Sandefer III was continuing to explain his wildcatting philosophy which hangs on the power of money in your pocket.
As the chairman and president of Sandefer Oil & Gas Inc. said in this column last week, “About the strongest thing in this business is the power to commit. If you’ve got dollars and you see a good deal, you can move faster than the major companies.”
When wildcatting is in the blood, can you ever do anything else? Not until you find something more fun, according to J.D. “Jakie” Sandefer III, and he hasn’t come across that something yet.
Sandefer, chairman and president of Sandefer Oil & Gas Inc., agreed to give a few insights into what makes a wildcatter – that stalwart of the oilfield – tick.