Sid Jansma at Covenant 17-1, the discovery well.

Sid Jansma at Covenant 17-1, the discovery well.

Nothing actually about oil is a sure thing. Least of all: finding it. Companies spend hundreds of millions of dollars leasing land and drilling wells based on what’s basically some very educated guesswork. The biggies, BP and Chevron and Exxon, go drilling all over the world. But there are hundreds of smaller companies poking around right here in the United States looking for the next big find. Series host Alex Chadwick has this story on one of them.

“This is the oil business” aired on APM Marketplace April 20, 2012:

https://soundcloud.com/burnanenergyjournal/covenant-field

Burn: An Energy Journal has partnered with public radio’s Marketplace to bring you Energy news and stories, as told through the business and economics prism that has made Marketplace one of public radio’s most listened to programs. BURN and Marketplace are both distributed by American Public Media.