Dallas Crude Club

Dallas Crude Club Overview:

• The first rule of Dallas Crude Club is you don’t talk about Dallas Crude Club to non-members.

• Only individuals that are considered future captains of industry are allowed.

• At the beginning of each quarter, each member with provide their estimate for the closing WTI oil price on the final day of that respective quarter.

• The quarterly winner is the member that picks the closest to the actual WTI price at close of NYMEX PIT trading on the last day of that respective quarter.

• If the end of the quarter falls on a weekend (i.e. Saturday or Sunday), the closing price at close of NYMEX PIT trading on the last business day prior to the end of the quarter will determine the quarter’s winner.

• NYMEX WTI closing prices will be determined from the source below:

https://www.bloomberg.com/quote/CL1:COM

• Quarterly winner will receive 100 points from each of the other members.

• The group will meet for a celebratory dinner on the first Thursday following the end of the quarter.

• Quarterly winner must be present at dinner to receive points.

• Quarterly winner is obligated to buy the group a round of drinks.

• Blind estimates for the following quarter’s WTI price will be made at each quarterly dinner.

• Members that cannot make dinner will provide their estimate by noon central standard time the following day (i.e. The First Friday following the end of the quarter.)

• Failure to provide a quarterly estimate by noon on Friday will result in that member being assign an estimate for that quarter of “$1, Bob!”

• If the quarterly winner cannot make dinner on the first Thursday following the end of the quarter, the winner can select any Thursday in the same month to host the dinner.

• Regardless of date and time of the dinner, all estimates are due by noon central standard time the following day (i.e. The First Friday following the end of the quarter.)

• If a member misses three consecutive dinners, they must leave the group.

• The board, consisting on five members, will meet regularly to discuss matters pertaining to the Dallas Crude Club.  

New Member Additions:

• Any member can propose a new addition to the group to the board.

• Proposed new member must receive a unanimous approval from the board to move to a vote.

• A majority approval from the group for must be attained for admission.

• New members are required to buy a round of drinks for the group at their first quarterly dinner.

• No more than 70% of the group can from the same organization.

• 21 member maximum.