Short Answer
Either buy futures and ETFs or acquire a working interest in a well. A working interest ties returns to actual barrels produced and passes through powerful deductions.
What It Means to an Investor
Futures and ETFs express a view on price. A working interest is an operating stake that bears costs and receives revenue after royalties, typically qualifying for IDC expensing, equipment depreciation, and percentage depletion once producing. It is illiquid and business‑like, so underwrite geology, costs, and decline.
