Why Oil Companies Are Always Short on Cash

Energy 101: We Ask The Dumb Questions So You Don't Have To

Philip Reed, better known as the "OFS Finance Guy," isn’t afraid to tell it like it is when it comes to money in the oilfield. Between explaining invoice factoring in plain English, sharing war stories about sketchy collections, and breaking down why AR headaches can make or break a company, he had us laughing and learning the whole way through. His path from Michigan to Texas is full of detours, lessons, and mustache-worthy moments that give a raw look at how OFS companies actually stay alive. We got into startups, Midland love-hate stories, and why finance in this industry is equal parts strategy and survival. It’s real talk with plenty of humor, just the way Energy 101 likes it.

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Click here to view the episode transcript.
00:00 - Intro
00:51 - Phil's Role in OFS Financing
02:35 - Phil's Journey into OFS Financing
05:26 - Experience in Midland Oil Industry
07:26 - Understanding Phil's Work Simplified
08:40 - Invoice Factoring Explained
10:10 - Operators' Dislike for Factoring
12:18 - Working with Small vs. Large Companies
15:30 - Industry Nightmares and Challenges
18:32 - Entering the Oil and Gas Sector
21:54 - Networking Strategies in the Industry
23:55 - Tips for Newcomers in Oil and Gas
29:14 - Success Through Failure in Business
29:40 - Importance of Trade Shows
31:53 - A Day in Phil's Life
33:30 - Discussing Michigan Weather
34:40 - Comparing Michigan and Texas
37:44 - Collecting Cash in the Industry
39:40 - Anticipations for Houston Events
41:23 - Best Sushi Spots in Houston
41:59 - Episode Wrap-Up

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