Respect!!Wow!! This man and His Bro deserve some Props on his Entreprenerial Game,I mean its rare to find Black owned Companies specialising in Drilling and exploring Oil except in SA and Nigeria.
Bryan “Baby” Williams, co-CEO of Cash Money Records, has made his first public statement on reports last month on the label’s foray into the oil and natural gas industries.
As first reported on AllHipHop.com, Cash Money opened a website for Bronald Oil & Gas, an independent company focused on finding and utilizing oil and gas reserves in North and Central America.
In an interview with Ozone Magazine, Williams revealed that he also has his own oil company, and that he’s been involved in the business for close to 5 years.
“I’ve been in the oil business about 4 or 5 years now. That’s something me and my brother decided to do outside of music,” Baby explained. “I read about oil a lot and I was able to get in business. [My company] is called Browner Oil, and I’m making good money off that; that’s something for my kids and my kids’ kids. They can live off that money forever.”
The Bronald Oil & Gas company has been looking for investors to expand drilling opportunities that are both environmentally safe and lucrative.
With new albums from Drake and Nicki Minaj under development, and music to be released from Lil Wayne while he serves a 1 year jail sentence, Baby admitted that his oil business has not gotten as much attention as he would prefer.
But with the return he’s had on it to date, Williams plans to put more resources into the project.
“I did a few different deals. That was just one of them. When you’re dealing with oil, you buy in different areas,” Baby detailed. “Right now I’m active; I got pumps and s**tthat are getting money monthly. I like that oil shit. I’m gonna put some more time into it.
http://www.thisis50.com/forum/topics/baby-speaks-on-cash-moneysBuying Leases
“Its initial efforts have been to acquire oil and gas leases covering areas with historical production and the opportunity for re-entry drilling as well as new drilling opportunities,” according to the Web site. “Bronald also hopes to partner with other developers to jointly exploit significant additional a**ets by leveraging Bronald’s infrastructure.”
Oklahoma City-based Chaparral Energy Inc. operates about 40 percent of the wells in Osage County, said Jim Miller, the company’s senior vice president for operations. He said he hadn’t heard of Bronald or been contacted by the company.
The address listed for Bronald with the Oklahoma Corporation Commission is a beachfront condominium in Florida. A New Orleans residence was listed for Bronald with the Louisiana Secretary of State. The Williams brothers are listed as Bronald’s officers in those filings. Regulators that handle oil and gas permits and operator licenses in Texas and Louisiana didn’t have records of Bronald’s existence; nor did Secretary of State offices in Texas and Florida.
Because oil and gas wells are so expensive, Bronald would likely be a non-operating partner in drilling projects, said Dan Pickering, president of Tudor Pickering Holt.
Music Moneymaker
“Which established operators they partner with will likely be a key factor of success,” Pickering said. “One thing about being stars, they will have a higher profile than a regular energy start-up.”
Lil’ Wayne ranked 12th last year on Billboard Magazine’s moneymaker list after pulling in $57.4 million in 2008. The New Orleans rapper pleaded guilty in October to a weapons charge arising from a 2007 arrest after a gun was found in his tour bus in New York, the New York Times reported Feb. 11. His sentencing was delayed this week because of dental surgery.
One of Cash Money’s biggest hits was Kevin Rudolf’s “Let It Rock,” which sold more than 2.5 million downloads on iTunes, Universal Music Group said last year.
The Williams brothers were featured in CNBC’s documentary “Newbos: The Rise of America’s New Black Overcla**.” Their expansion into the energy business caught the attention of entertainment-related Web sites.
The sports and culture site Friends of the Program issued a warning on Feb. 1 for Exxon Mobil Corp., the largest U.S. company, when it said in a headline about the Williams energy venture, “Exxon Better Recognize.”
BallerStatus.com, a site dedicated to “urban lifestyle,” noted Bryan Williams’ tattoo: “Birdman even has a tattoo in celebration of the new venture, so it looks like he’s serious about it
