#125 - Oil & Gas Investing for High-Income Pilots with Mark Fleming

Can oil and gas really be a smart play for high-income professionals? In this episode, Tait Duryea and Ryan Gibson sit down with Mark Fleming, petroleum engineer and Turbine Capital’s oil & gas advisor, to break it down. From the basics of how drilling works to the tax advantages that can offset W2 income, you’ll learn the realities of this often-misunderstood industry. The conversation covers political risk, environmental concerns, portfolio allocation, and many more. Whether you’re curious about non-op partnerships, cashflow timing, or long-term energy trends, this episode gives you the insider perspective every pilot-investor needs.

Mark Fleming is a petroleum engineer and oil & gas advisor with over 20 years of experience across Chevron, Hess, and EOG. He has also advised major banks on energy lending and helped startups navigate the public markets. Today, Mark serves as Turbine Capital’s oil and gas advisor, guiding strategy and due diligence for private funds. His expertise spans drilling technology, unconventional plays, energy policy, and risk assessment, making him a trusted voice for investors seeking clarity in this complex sector.

Show notes:

(0:00) Intro

(00:41) Why oil & gas still matters

(05:20) Oil investing is long-term, not quick

(08:16) Politics and pricing shape investor returns

(11:42) Game-changing advances in drilling & fracking

(13:03) ESG, environment, and energy reality

(16:47) Oil plays vs. gas plays explained

(19:26) Three ways to invest privately

(24:21) Upstream, midstream, and key tax benefits

(30:58) How to vet operators & reduce risk

(45:05) Oil cashflow vs. real estate returns

(49:22) Outro

Helpful Links: 

LinkedIn: https://www.linkedin.com/in/mark-e-fleming

Turbine Capital: Iron Horse Energy Fund

Guide to U.S. Tax benefits for Direct Oil & Gas Drilling Investments: https://drive.google.com/file/d/1DZBu5zH8dpotRFijs6-VmJo1HF4EvIIu/view?usp=sharing 

Bettering Human Lives Liberty Energy: https://drive.google.com/file/d/1BqCoKUbcWBiaeY6g9l1DDsQFUY8Y8y82/view?usp=sharing 

The Prize: The Epic Quest for Oil, Money & Power: https://a.co/d/bwwLzZq 

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*Legal Disclaimer*

The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.