Grand Rapids company strikes black gold

[GRDadof3]

There is an article in the Press today about the feeding frenzy for oil out in Utah now thanks to Wolverine. They are now up to 100,000 barrels/month and are dropping in new wells left and right. Other companies are trying to piggyback, but are out on the fringes due to Wolverine's superb job of keeping their find under wraps since 2003. Sounds like this Jansma is a good guy, BTW, based on what I have heard.

I had to reach back to June to find this thread (too lazy to start a new one)

[superNOVA]

They can drill wells for the next ten years straight and still not get all of the oil out (assuming the discovery is as good as the current hype) so while they certainly own a piece of a valuable asset they are not among the worlds richest.

If it pans out and there are 14 investors, they are looking at something between $1 billion and $3 billion each over the life of the project. Not bad, and yes, that would make them easily world elite levels of wealth. Think of 10 investors in Western Michigan having VanAndel and DeVos type wealth.

It means a lot and it is actually better than there are many investors - considering most are local. Odds of seeing the monet make it back into the community are much better.

[Veronica]

If it pans out and there are 14 investors, they are looking at something between $1 billion and $3 billion each over the life of the project. Not bad, and yes, that would make them easily world elite levels of wealth. Think of 10 investors in Western Michigan having VanAndel and DeVos type wealth.

It means a lot and it is actually better than there are many investors - considering most are local. Odds of seeing the monet make it back into the community are much better.

Those 1 billion and 3 billion figures are way out of proportion, and I know for a fact that Sid Jansma is not speculating anything - he's just letting things progress normally and is not jumping to any conclusions. Why do I know this??? I work here.

By the way, they are completely and totally privately owned. RATS!!

[Veronica]

I cannot say too much because of conficentiality, but I know members of the Jansma family and they are GREAT people, very committed to Grand Rapids, very committed to the central city. If all that is projected in the paper comes to pass with Wolverine Oil, we can anticipate great things from the Jansma family.

This would be true.

[PBJ]

Why do I know this??? I work here.

Yes!!.. we love "insiders" around here

[Veronica]

Yes!!.. we love "insiders" around here

well you know....

not trying to be like a know it all or anything...but I just go with what I hear first hand, and you can't get any closer than working for the guy!

[ericnmu]

There is an article in the Press today about the feeding frenzy for oil out in Utah now thanks to Wolverine. They are now up to 100,000 barrels/month and are dropping in new wells left and right. Other companies are trying to piggyback, but are out on the fringes due to Wolverine's superb job of keeping their find under wraps since 2003. Sounds like this Jansma is a good guy, BTW, based on what I have heard.

I had to reach back to June to find this thread (too lazy to start a new one)

Jansma is my step fathers cousin. Last I heard he was bringing in $230,000 a day in personal profit. Like we already established, he is an extremely religous man, but he wouldnt help my step-dad in a time of need. I'm not sure if that rules out his philanthropy or it was just family issues.

I'll try and get some inside info on future plans.

[superNOVA]

Those 1 billion and 3 billion figures are way out of proportion

I was simply speculating based on to known factors - the current market rate of mid quality oil and the estimated quality. If prices were to hold, those numbers should also hold.

[lg4]

i really agree with rizzo. for all the amazing benefactors the city has, if only grps would have a strong ally that could improve the quality of life within the city tenfold. a strong school system is essential for the city's longterm health.

but, seeing that the oilman is a calvin man, i dont see if he has any strong ties to the grps system, although i could be wrong and would be gladly corrected if he decided to invest within the city's schools.

Mr. Jansma was a heavyweight (figuratively) in the fight for school vouchers,

going back even before the current administration. This probably doesn't

bode well for charitable giving for the GRPS. However, as I understand it,

he is very supportive of the Grand Rapids Christian School Association.

[lg4]

Jansma is my step fathers cousin. Last I heard he was bringing in $230,000 a day in personal profit. Like we already established, he is an extremely religous man, but he wouldnt help my step-dad in a time of need. I'm not sure if that rules out his philanthropy or it was just family issues.

I'll try and get some inside info on future plans.

It's interesting how one person can be viewed in many different ways,

depending on the experience, knowledge (or lack thereof)

and personal biases of the viewer.

Although there are many who feel they are on the inside have great

admiration for Mr. Jansma's business sense, learned at his fathers

(and Wolverine founder) knee, there are others in his immediate family

who won't even break bread with the guy - or maybe it's that He won't

break bread with Them. What I do know, is that fractures in families,

especially about money and favored son status, are sad, really. I suppose

which choices one makes determines where they fall in the family,

but, as a man who wears his Christianity across his chest, one would

sorta hope all was right at home before all is 'right' out in the world

- the whole charity begins at home (literally) thing.

In any event, Mr. Jansma is proud of his status as an oilman as is reflected

by his license plate as well as the bull horns protruding from the front of his

SUV that he owned a few years back!

Anyway, being a native son, the hope will be that he will use some of his

windfall to benefit his hometown.

[GRDadof3]

It's interesting how one person can be viewed in many different ways,

depending on the experience, knowledge (or lack thereof)

and personal biases of the viewer.

Although there are many who feel they are on the inside have great

admiration for Mr. Jansma's business sense, learned at his fathers

(and Wolverine founder) knee, there are others in his immediate family

who won't even break bread with the guy - or maybe it's that He won't

break bread with Them. What I do know, is that fractures in families,

especially about money and favored son status, are sad, really. I suppose

which choices one makes determines where they fall in the family,

but, as a man who wears his Christianity across his chest, one would

sorta hope all was right at home before all is 'right' out in the world

- the whole charity begins at home (literally) thing.

In any event, Mr. Jansma is proud of his status as an oilman as is reflected

by his license plate as well as the bull horns protruding from the front of his

SUV that he owned a few years back!

Anyway, being a native son, the hope will be that he will use some of his

windfall to benefit his hometown.

Thanks for the insight, lg4. Money does strange things to families, and sometimes moreso to the ones who don't have it. Bullhorns on his SUV

[Veronica]

I was simply speculating based on to known factors - the current market rate of mid quality oil and the estimated quality. If prices were to hold, those numbers should also hold.

Absolutely! There has been so much taken out of speculation and not fact by the press, misquoting people and such... And, I haven't worked here long enough to know everything. Interesting comments by everyone on this thread though, and I will keep ears and eyes open.

[eagle]

It's interesting how one person can be viewed in many different ways,

depending on the experience, knowledge (or lack thereof)

and personal biases of the viewer.

Although there are many who feel they are on the inside have great

admiration for Mr. Jansma's business sense, learned at his fathers

(and Wolverine founder) knee, there are others in his immediate family

who won't even break bread with the guy - or maybe it's that He won't

break bread with Them. What I do know, is that fractures in families,

especially about money and favored son status, are sad, really. I suppose

which choices one makes determines where they fall in the family,

but, as a man who wears his Christianity across his chest, one would

sorta hope all was right at home before all is 'right' out in the world

- the whole charity begins at home (literally) thing.

In any event, Mr. Jansma is proud of his status as an oilman as is reflected

by his license plate as well as the bull horns protruding from the front of his

SUV that he owned a few years back!

Anyway, being a native son, the hope will be that he will use some of his

windfall to benefit his hometown.

Success is a wonderful thing, but forces one to make tough decisions. As my business becomes more successful I understand first hand how it can cause strife in families. As some of you on this forum who may be successful know, you're no better than anybody else but you do think drastically different. You make different decisions, you look at things differently, and most people will not understand you. In fact, that's one of the first signs that you're on the right track. "Average" people don't understand, and probably criticise you!

There comes a time in every man's life when he has to make a tough decision. Is he going to spend his life pleasing family or doing what he believes he is called to do to create a legacy for his own children and family. Many times, unfortunately, those who love you most won't understand, and often times try to discourage you from really stepping out. If you choose the latter it means associating with others who are successful and who challenge you to take risks, step out, think differently, etc. Most of the times this isn't your family. The more successful you become, the less you relate to the "average" person. The thought process is just too different. I don't mean average in a negative sense at all, I just can't think of a better word. While you still love them you need to do what you need to do. Someday they'll probably be depending on you to take care of them anyways!

I wouldn't question his Christianity based on what some other family member's perception is. His "charity" may not be the best thing for them.

My $.02 from personal experience.

[Prankster]

Interesting perspective, good advice.

[GRDadof3]

Wolverine Gas & Oil update

For those interested, their first venture on their new land returned 10 producing wells out of 11 exploratory wells, providing 5000 barrels/day (if I'm reading the article correctly). Let's hope the other 10 angel investors turn around and invest in GR.

[Rizzo]

$118 million a year gross for a HQ downtown

[GRGyp]

Interesting perspective, good advice.

That's good news for Wolverine.

I heard news about this strike about a year ago when they sunk their first well. I brought it up to a friend that sinks wells for living up in Traverse City, and he had an interesting reply. He said the one well looked promising, but the true test was when they started to sink more wells. In the industry, I guess it a common occurance to sink one well and have it produce at a great rate, only to sink more and see production die from original well as result.

It's promising news to see that well production is staying steady as they sink more of them into the ground.

[GaryP]

If it pans out and there are 14 investors, they are looking at something between $1 billion and $3 billion each over the life of the project. Not bad, and yes, that would make them easily world elite levels of wealth. Think of 10 investors in Western Michigan having VanAndel and DeVos type wealth.

It means a lot and it is actually better than there are many investors - considering most are local. Odds of seeing the monet make it back into the community are much better.

I ran these numbers by someone close to the project; they're pretty close to reality. Ten new billionaires in town, imagine if they follow the Devos/Meijer/Van Andel tradition. The potential is really mind boggling

[Rizzo]

^Some how, some way -- I am now related to Jansma ...

[GRGyp]

I ran these numbers by someone close to the project; they're pretty close to reality. Ten new billionaires in town, imagine if they follow the Devos/Meijer/Van Andel tradition. The potential is really mind boggling

The true windfall, now comes from selling the land back. If I remember correctly, Wolverine picked up the land dirt cheap from a big name oil company. (Exxon, Amoco??) The big company didn't think there was any oil on the land, but had great potential for natural gas. Wolverine ran an assessment and liked the chances to hit oil, took a chance, and now are reaping a nice reward for having guts.

Here is the rub. Wolverine is a small company. They got the rights for $40 an acre. Now that they've hit oil and are pumping at a great rate, do they continue to sink wells, or do they sell the rights back to a big company? They bought it for $40, but now that it's producing 5000 a day I imagine it's worth alot more than that to a big oil company that can exploit that strike better than Wolverine can.

[GRDadof3]

We haven't had an update on Wolverine Gas and Oil lately, and with the skyrocketing oil barrel prices, I wondered how things were going. It appears that so far in Utah, in this report put out by the State, Wolverine has already pumped over 5 Million barrels of oil out of the 10 wells they have operating in their new "find" area. Wolverine's monthly production is nearly 10% of the entire state of Utah's production. In 2005 when they started, oil barrel prices were about $60, and now they are over $120. You can do the math.

And like many speculated, Sid Jansma has been putting the money back into the community:

CRC Seminary receives $2 Million gift

Calvin Fine Arts Center to get makeover

Millennium Park gets trail network

GRAM acquires Rembrandt engraving

GRAM acquires Durer's "The Engraved Passion"

More reading about Wolverine's continued explorations:

Oil and Gas Exploration - "Utah Jazz"

[GRDadof3]

Noticed the Jansma name again today:

I think the Klopcic name is the family that owns the big beer distributor in town, if I'm not mistaken. West Side Beer Distributors maybe?

The Richmond Park Pool is pretty cool, and it's great to see financial support to keep the pools open from these family foundations.