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oil prices low for a while now?

chocolatemalt

chocolatemalt

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Get Shredded!
More updates on the oil industry front. Remember, Saudi Arabia's goal here is to permanently put most US frackers out of business and it doesn't seem to be working yet... do they keep the heat turned up for another year or longer? Or give up?

http://money.cnn.com/2016/04/06/investing/us-oil-production-decline-eia/index.html

If US rig owners have managed to keep pumping despite the low prices, how have workers been hurt? They're pumping on skeleton crews? Exploratory drilling has come to a halt? Just wondering what it looks like for anyone on the front lines.
 
The company we do all are fracs for is the 2nd largest producer in the basin and they are down from about 15 rigs 2013 to 8 in 2015 to 1 in 2016. they are currently about 250 wells drilled ready for frac so hopefully they keep wanting to produce and not play the cap and wait game.
 
Here in south Texas rigs are stacked in the graveyard only the wells drilled are flowing but are choked back big time, only workers really right now that are going at it are lease operators. Most rigs drilling now are just finishing our their contracts and will be stacked out, drillers demoted back to floor hands and so on. It's so bad here in tx that a major drill pipe conpany put "will trade pipe for food" on their digital sign on the interstate. 95% of my buddies are laid off right now, no drilling = domino effect for everybody downstream
 
I am also in Frac we went from 5500 employees to just under 800 employees and that's wireline and Frac. If you still got a job in the patch you are a good worker, Cock sucker, or snitch!

It's not looking any better in the near future although we have some El Paso jobs coming up! I have been driving Frac pumps all damn day for pump maintenance and getting the fleet ready to roll for this job on the 12!! Holy shit I can buy that 36ft boat now

Took a nice pay cut last month. But hey they keep us in such a fine establishment of a man camp I gladly gave them 15% of my wage




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Mighty-Mouse said:
I am also in Frac we went from 5500 employees to just under 800 employees and that's wireline and Frac. If you still got a job in the patch you are a good worker, Cock sucker, or snitch!

It's not looking any better in the near future although we have some El Paso jobs coming up! I have been driving Frac pumps all damn day for pump maintenance and getting the fleet ready to roll for this job on the 12!! Holy shit I can buy that 36ft boat now

Took a nice pay cut last month. But hey they keep us in such a fine establishment of a man camp I gladly gave them 15% of my wage




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Click to expand...
i think we may work for the same company just different basin.
 
Mighty-Mouse said:
I am also in Frac we went from 5500 employees to just under 800 employees and that's wireline and Frac. If you still got a job in the patch you are a good worker, Cock sucker, or snitch!

It's not looking any better in the near future although we have some El Paso jobs coming up! I have been driving Frac pumps all damn day for pump maintenance and getting the fleet ready to roll for this job on the 12!! Holy shit I can buy that 36ft boat now

Took a nice pay cut last month. But hey they keep us in such a fine establishment of a man camp I gladly gave them 15% of my wage




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Click to expand...


Pioneer?
 
I don't know how long Saudi Arabia can keep doing this. To my surprise I just read they are implementing an austerity plan because they are hurting for revenue. I thought oil, even at $35 a barrel would be enough for them to make enough money to keep the Saudi government a float.

But if you think it is bad here check out Venezuela. They are circling the drain, 270% annual inflation and the cut in oil prices hurt them big time.

And I wonder what will happen after the meeting between Russia and Saudi Arabia regarding oil prices next week? I know Russia is not happy at all.

And Iran has to be pissed. Now that Obama lifted the embargo with Iran, they are ready to sell on the open market at this shitty price of $35 a barrel...........and their oil coming on line is only going to cause a bigger glut and oil prices will dip even more.
 
Mighty-Mouse said:
I am also in Frac we went from 5500 employees to just under 800 employees and that's wireline and Frac. If you still got a job in the patch you are a good worker, Cock sucker, or snitch!

It's not looking any better in the near future although we have some El Paso jobs coming up! I have been driving Frac pumps all damn day for pump maintenance and getting the fleet ready to roll for this job on the 12!! Holy shit I can buy that 36ft boat now

Took a nice pay cut last month. But hey they keep us in such a fine establishment of a man camp I gladly gave them 15% of my wage




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Click to expand...


Or is that private lol 😳
 
Set Saudi wells on fire and watch the price hit 200 a barrel overnight... Everyone is laying down for the Saudi's to control the market, while they destroy economies like a wrecking ball, this will not last long, imo. Somebody's gonna retaliate, this is how wars start. That's about a nickels worth ;)
 
HFO3 said:
Set Saudi wells on fire and watch the price hit 200 a barrel overnight... Everyone is laying down for the Saudi's to control the market, while they destroy economies like a wrecking ball, this will not last long, imo. Somebody's gonna retaliate, this is how wars start. That's about a nickels worth ;)
Click to expand...

Had we left Saddam in power (and not wrecked his war machine in '91) he might've done exactly as you suggest. No one else will though.
 
chocolatemalt said:
Had we left Saddam in power (and not wrecked his war machine in '91) he might've done exactly as you suggest. No one else will though.
Click to expand...


Time will tell.
 
Someone bumped a truck in the yard and Ops man seen it fired on the spot. Didn't even dent the truck.

Said you shouldn't have backed up without your land guide having lighted batons


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safety guy reported someone on loco driving on his phone. he's gone
 
We have cameras in our tractors and they just called me in the other day for spotting equipment on the yard not wearing a seat belt


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I hope ours don't have cameras they might see some weird shit going down while waiting for coil:jerkit:
 
Some locomotives have cameras in the cab facing inside and facing out the windshield.we have them in service trucks to.turn to fast take off to fast not wearing your seat belt all infractions.cant smoke in them either.talking on phone whyle operating a loco is a major no no.
 
Get Shredded!
I hate hearing of the layoffs and no work. This really sucks and I hope everyone affected by the b.s. is okey.

I've been in this industry for 7 yrs now. Almost 4 yrs now with the company I'm with. I hear about the impacts around all industry down stream.
 
fuck a camera in the truck. had a friend of mine get wrote up a few weeks ago for eating a snickers bar between stops.
 
I have a friend that is working one of the platforms off santa barbara h said they are laying off big time and cut back hours, he had to let go of his apartment and move in with a coworker friend. they predicted that we world be the world leader in oil production five years ago, I guess they were right
 
I know nothing about what you guys do so I wont pretend I do. That said this shit reminds me of that TV show black gold lol. Those fools would fire people quick! All them fools looked like they were running gear too hahahaha
 
My dad called me from AK today
The North slope is getting shutdown
Only to have 20 % operational
i was their in February and they already laid off 40%
Now only 20% to be operational
Everyone their works in the Slope or around
Economy will not be good in AK, rise in crime etc, etc..
 
One good thing about all this. Is Laredo is not one of my frequent travel destinations anymore!!

halleleuah!
 
I'm so sick and tired of going in the hole every month.....good damn thing I rat holed a bunch of money when things were good. I've learned this though.....I'm a third generation oil producer.
 
MiSh said:
My dad called me from AK today
The North slope is getting shutdown
Only to have 20 % operational
i was their in February and they already laid off 40%
Now only 20% to be operational
Everyone their works in the Slope or around
Economy will not be good in AK, rise in crime etc, etc..
Click to expand...

What?! I thought crime was caused by moral failing or skin color, not economic misfortunes. Are you a communist? Why do you hate America?
 
It's the lower 48 that has a problem
Not AK


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