MEET THE CEO

Alex Ottewell

CEO & Founder

Meet Alexander Ottewell, the high-octane visionary and trailblazing CEO of One World Petroleum. A bona fide entrepreneur hailing from Southampton, England, moving to Florida in 2000 as a child, Alex’s impressive journey is a testament to his indomitable spirit, strategic acumen, and relentless pursuit of success trailing back to childhood negotiations as he bought, sold & bartered his way into whichever thing fit his curiosity at the time.

Once reigning over the dynamic realm of real estate investment, Alex focused on the Fix/Flip space from 2011 to 2022. He single-handedly revolutionized the space with his niche, later explained, 

Where We’re Going:

One World Petroleum in 2025

Expanded operations in four major states. Ie. Texas, Ohio, Oklahoma, and Louisiana.
Over 2,000 oil and gas wells owned.
Over 50% of production coming from the revitalization of poorly maintained and neglected wells.

How The Oil Industry Works

THE UPSTREAM SECTOR

Often known as the exploration and production (E&P) sector, is involved in searching for potential underground or underwater oil and gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface.

THE MIDSTREAM SECTOR

Provides a vital link between upstream production and downstream distribution, focusing on the processing, storage, transportation, and wholesale marketing of crude oil, natural gas, and their derivatives.

THE DOWNSTREAM SECTOR

Deals primarily with the marketing and distribution of products derived from crude oil and natural gas.

How The Oil Industry Works

THE UPSTREAM SECTOR

Often known as the exploration and production (E&P) sector, is involved in searching for potential underground or underwater oil and gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface.

THE MIDSTREAM SECTOR

Provides a vital link between upstream production and downstream distribution, focusing on the processing, storage, transportation, and wholesale marketing of crude oil, natural gas, and their derivatives.

THE DOWNSTREAM SECTOR

Deals primarily with the marketing and distribution of products derived from crude oil and natural gas.

Frequently Asked Questions

‘Upstream’ in the oil and gas industry refers to the exploration and production stages. It includes activities such as geological surveying, drilling, and operating wells, all focused on finding and extracting crude oil and natural gas from underground or underwater fields.

A working interest refers to the rights to explore, drill, and produce oil and gas from a leasehold. It involves the costs and liabilities associated with drilling and production. A royalty interest, on the other hand, grants a share of the production or revenue from a lease, free of the costs associated with exploration and production.

Oil and gas prices are influenced by a variety of factors, including global supply and demand, geopolitical events, economic growth trends, technological advancements, and market speculations.

Upstream operations can have environmental impacts, including air and water pollution, habitat disruption, and greenhouse gas emissions. Many companies have increasingly prioritized mitigation efforts and are investing in more sustainable and efficient technologies to lessen these impacts.

In the dynamic world of oil and gas ventures, both operated working interest and non-operating interest offer unique opportunities and differing levels of participation.

Non-operating interest, or non-working interest, presents an appealing option for those seeking a stake in the lucrative oil and gas sector without the obligations tied to daily operations. This form of interest signifies fractional ownership in an oil and gas lease, offering the opportunity to partake in the revenue generated by production. Importantly, this model typically doesn’t burden non-operating interest owners with the costs of drilling or operating the wells. This investment structure inherently mitigates risk, making it an attractive option for those seeking a balance between capital investment and potential return.

While it’s true that a non-operating interest owner might exercise less control over operations and see less potential for large-scale returns compared to their counterparts holding an operated working interest, the relative security, and steady revenue stream of a non-operating interest could be seen as a positive trade-off. It’s a route that allows investors to tap into the oil and gas industry’s revenue potential without the extensive involvement and liabilities associated with managing well operations

Fracking, or hydraulic fracturing, is a process that involves injecting water, sand, and chemicals into a well under high pressure to create fractures in the rock formation. This allows oil or gas to flow more freely from the well, improving extraction rates.

Typically prior to total depletion a variety of production increasing strategies are utilized for total recovery before deciding to plug and abandon the well in accordance with regulatory requirements to ensure environmental safety. The site is then typically reclaimed, which may involve restoring vegetation, removing infrastructure, and monitoring for any environmental impacts.

Determining the feasibility of reworking a well involves a multifaceted evaluation encompassing technical, economic, and regulatory aspects. First, the company scrutinizes the well’s technical health, including wellbore integrity, the status of completion components, and the condition of the surface infrastructure, along with data about remaining reserves. Then, an economic analysis is performed, where reworking costs are weighed against anticipated revenue from increased production post-rework. Regulatory compliance is another key factor, ensuring the planned rework abides by environmental, safety, and permit regulations. Should these elements favorably align, and provided the risks associated with reworking, such as potential well control issues, are acceptably managed, the company may choose to proceed with the rework operation.

A Joint Operating Agreement (JOA) is a fundamental legal document in the oil and gas industry that outlines the roles, responsibilities, and obligations of multiple parties involved in the exploration and production of a lease. This contractual arrangement typically exists between one operating party, who oversees the daily management and operations of the lease, and one or several non-operating parties. The JOA delineates the ownership interest of each party, the allocation of profits and costs, the procedure for decision-making, dispute resolution mechanisms, and provisions for potential scenarios such as the transfer of interest or termination of the agreement. Thus, a JOA serves as a blueprint for cooperation, aiming to minimize conflicts and ensure smooth operations.

Purchasing non-operating interests in Proved Developed Producing (PDP) reserves in the oil and gas industry can provide substantial tax advantages. The Internal Revenue Service (IRS) in the United States allows investors to deduct certain costs associated with oil and gas investments, notably through a mechanism called depletion allowance. The depletion allowance serves as a tax-deductible expense, recognizing that oil and gas reserves are depleting assets. This tax advantage effectively lowers the taxable income from the investment. For non-operating interest owners, this can result in significant savings, considering that they receive income from production without bearing the operational costs. Furthermore, under certain conditions, a portion of the income may qualify as passive income, which can provide additional tax benefits. As with all tax matters, it’s important to consult with a tax advisor to fully understand the potential tax advantages and implications.

Frequently Asked Questions

‘Upstream’ in the oil and gas industry refers to the exploration and production stages. It includes activities such as geological surveying, drilling, and operating wells, all focused on finding and extracting crude oil and natural gas from underground or underwater fields.

A working interest refers to the rights to explore, drill, and produce oil and gas from a leasehold. It involves the costs and liabilities associated with drilling and production. A royalty interest, on the other hand, grants a share of the production or revenue from a lease, free of the costs associated with exploration and production.

Oil and gas prices are influenced by a variety of factors, including global supply and demand, geopolitical events, economic growth trends, technological advancements, and market speculations.

Upstream operations can have environmental impacts, including air and water pollution, habitat disruption, and greenhouse gas emissions. Many companies have increasingly prioritized mitigation efforts and are investing in more sustainable and efficient technologies to lessen these impacts.

In the dynamic world of oil and gas ventures, both operated working interest and non-operating interest offer unique opportunities and differing levels of participation.

Non-operating interest, or non-working interest, presents an appealing option for those seeking a stake in the lucrative oil and gas sector without the obligations tied to daily operations. This form of interest signifies fractional ownership in an oil and gas lease, offering the opportunity to partake in the revenue generated by production. Importantly, this model typically doesn’t burden non-operating interest owners with the costs of drilling or operating the wells. This investment structure inherently mitigates risk, making it an attractive option for those seeking a balance between capital investment and potential return.

While it’s true that a non-operating interest owner might exercise less control over operations and see less potential for large-scale returns compared to their counterparts holding an operated working interest, the relative security, and steady revenue stream of a non-operating interest could be seen as a positive trade-off. It’s a route that allows investors to tap into the oil and gas industry’s revenue potential without the extensive involvement and liabilities associated with managing well operations

Fracking, or hydraulic fracturing, is a process that involves injecting water, sand, and chemicals into a well under high pressure to create fractures in the rock formation. This allows oil or gas to flow more freely from the well, improving extraction rates.

Typically prior to total depletion a variety of production increasing strategies are utilized for total recovery before deciding to plug and abandon the well in accordance with regulatory requirements to ensure environmental safety. The site is then typically reclaimed, which may involve restoring vegetation, removing infrastructure, and monitoring for any environmental impacts.

Determining the feasibility of reworking a well involves a multifaceted evaluation encompassing technical, economic, and regulatory aspects. First, the company scrutinizes the well’s technical health, including wellbore integrity, the status of completion components, and the condition of the surface infrastructure, along with data about remaining reserves. Then, an economic analysis is performed, where reworking costs are weighed against anticipated revenue from increased production post-rework. Regulatory compliance is another key factor, ensuring the planned rework abides by environmental, safety, and permit regulations. Should these elements favorably align, and provided the risks associated with reworking, such as potential well control issues, are acceptably managed, the company may choose to proceed with the rework operation.

A Joint Operating Agreement (JOA) is a fundamental legal document in the oil and gas industry that outlines the roles, responsibilities, and obligations of multiple parties involved in the exploration and production of a lease. This contractual arrangement typically exists between one operating party, who oversees the daily management and operations of the lease, and one or several non-operating parties. The JOA delineates the ownership interest of each party, the allocation of profits and costs, the procedure for decision-making, dispute resolution mechanisms, and provisions for potential scenarios such as the transfer of interest or termination of the agreement. Thus, a JOA serves as a blueprint for cooperation, aiming to minimize conflicts and ensure smooth operations.

Purchasing non-operating interests in Proved Developed Producing (PDP) reserves in the oil and gas industry can provide substantial tax advantages. The Internal Revenue Service (IRS) in the United States allows investors to deduct certain costs associated with oil and gas investments, notably through a mechanism called depletion allowance. The depletion allowance serves as a tax-deductible expense, recognizing that oil and gas reserves are depleting assets. This tax advantage effectively lowers the taxable income from the investment. For non-operating interest owners, this can result in significant savings, considering that they receive income from production without bearing the operational costs. Furthermore, under certain conditions, a portion of the income may qualify as passive income, which can provide additional tax benefits. As with all tax matters, it’s important to consult with a tax advisor to fully understand the potential tax advantages and implications.

Contact Us

If you are interested in either selling or purchasing assets, please check out the links below.

The Upstream
Oil and Gas Industry

Often known as the exploration and production (E&P) sector, is involved in searching for potential underground or underwater oil and gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface.

There are several ways that
upstream companies can generate profits:

Exploration

The profit generation journey starts with successful exploration. By using seismic technology to find the location of oil and gas reserves, companies can strategically plan drilling operations to tap into these resources. Successful exploration reduces the risk of dry wells and increases the potential for higher returns

Drilling

Once a potential site has been identified, drilling becomes the next step. Efficient and cost-effective drilling operations can significantly improve profit margins. New technologies, such as directional drilling, can increase the success rate and reduce the costs.

Production

The production phase is where a significant portion of profits is made. Enhancing the efficiency of extraction techniques and optimizing production operations can significantly increase profitability. Advanced recovery techniques, such as enhanced oil recovery (EOR), can also boost production from mature fields.

The Midstream Sector of the Oil and Gas Industry

Provides a vital link between upstream production and downstream distribution, focusing on the processing, storage, transportation, and wholesale marketing of crude oil, natural gas, and their derivatives.

Here are some ways that
midstream companies can generate profits:

Transportation

One of the primary sources of income for midstream companies is fees earned for transporting oil, gas, and refined products from production sites to refineries and then to distributors. This is usually done through pipelines, but also by rail, truck, or ship, depending on the location and specific requirements.

Storage and Terminaling Services

Midstream companies own and operate storage facilities, earning revenue by charging fees for the use of these facilities. They also provide terminaling services, handling the loading and unloading of petroleum products at these storage sites.

Processing and Refining

Before natural gas can be used, it often requires processing to remove impurities and separate natural gas liquids (NGLs) such as ethane, propane, and butane. Midstream companies earn fees for providing these services.

Fractionation

This process separates mixed NGL streams into individual pure components, which are often more valuable. Midstream companies can generate substantial profits by providing these fractionation services.

Wholesale Marketing

Midstream companies may also engage in the wholesale marketing of oil, gas, and NGLs, buying these commodities from upstream producers and selling them to downstream users or other wholesalers. Profits are generated from the price spread.

The Downstream Sector of the Oil and Gas Industry

Deals primarily with the marketing and distribution of products derived from crude oil and natural gas.

Here’s a look at different aspects of this sector
where companies can generate profits:

Retail and Marketing

One of the main ways downstream companies generate profits is by selling refined petroleum products directly to consumers. This includes operating service stations where consumers can purchase gasoline and diesel, as well as other retail products.

Distribution

Downstream companies also manage the distribution of refined products, ensuring they reach various endpoints, such as airports, factories, commercial businesses, and residential consumers.

Petrochemicals

The downstream sector often includes petrochemical operations, which convert refined petroleum and natural gas into chemical products. These could be plastics, fertilizers, or a multitude of other chemical compounds. The petrochemical industry often enjoys higher profit margins than fuel products.

Wholesale

Selling refined products in large quantities to industrial or commercial clients is another key downstream activity. These might include manufacturing firms, power plants, or other oil and gas companies.

Specialized Products

The creation and sale of specialized petroleum products, such as lubricants, waxes, and asphalt, can also contribute to the profitability of downstream companies.