Oil Entrepreneurs Give Advice During Downturn

Oil Entrepreneurs Give Advice During Downturn

NewsWest 9 met with Rooster McConaughey and Butch Gilliam to learn a little bit about how they carved their fortunes, and how they keep it when the economy takes a dive.

These two west Texans made their millions with their oil piping companies, and they know how difficult it is when crude prices plummet.

"These tough times we're at now is the time to learn. Right now is the time to condition yourself. Right now is the time to figure out the things that you did wrong. And how are you going to be ready for this to happen again, because this ain't the last time this is going to happen to 'em," McConaughey said.

"But if you've made the choice to come to west Texas and work in the oil business you'd better be ready for the highs and the lows," Gilliam added.

Rooster and Butch believe that the jobs will always come back, and it's just a matter of perseverance and forward thinking for oilfield workers to stay out of the hole.

"Everybody wants to get rich so quick now, but they don't really set up a foundation for it. I went broke once and I went ahead and gave away what I had left and I went back to common labor again," McConaughey went on.

"That's just part of the game. That's part of the lifestyle that we live here in west Texas," Gilliam chimed.

The boys in the West Texas Investors Club have high hopes for the Permian Basin, even in a slight oil downturn.