Hey Oilfield Guys!!

[cosmiccowboy]

definitely looks like some rigs are gonna stack down south soon...

According to DrillingInfo.com, applications for new drilling permits in South Texas’ Eagle Ford Shale and North Dakota’s and Montana’s Bakken Shale fell approximately 30% in November of 2014 compared to the previous month.

Good luck out there guys...

[BrandonA]

Prayers to those effected directly.

[Skinny]

Prayers up for all in the oil and gas industry.

It's pretty sad to be a victim of our own success.

[Pedernal]

Hate to see people getting laid off and having to wonder how they will be able to provide for their families. Prayers for all financially harmed by this down turn in oil prices...

[txwhitetail]

Still don't understand why they aren't allowing some exports to battle the Saudis.

I think the US Govt is fine with the price with it hurting Russia worse than the US.

[cosmiccowboy]

You are correct. In fact, the executive branch is happy to hurt the fracking industry and indirectly take credit for low gas prices. Low oil prices hurt Iran, Venezuela, Russia, and Texas...all are enemies of the Obama administration.

[refugioco]

I am invested heavily in oil and my son has a lot of money invested in an upstream education. So these comments will be coming from my perspective, and not from a person in the know.

Large companies are looking to lower their spending.
The two easiest places to cut are employees and dividends. This has already begun.
Meanwhile small companies with a lot of debt built on higher oil prices could go under.
For large companies this is not their first rodeo and they will be prepared for the rebound with plenty of cash to buy assets for pennies on the dollar and let supply dwindle until they can sell at a price they are happy with.

I am hoping prices rebound and people come to their senses. I do not see a lack of demand. If it does not, it will not take long for the country to see how important the oil industry is to the economy.
I am feeling the pain but nothing like the people that have been laid off for no fault of their own. We have a chance to become energy independent if we can just get back on track.

[cosmiccowboy]

It will be interesting to see what the companies like Chesapeake will do. They have been living on borrowed money based on $100 oil and willing to lose money every year to punch more holes...will their creditors will do if oil stays at $50 and they can't stroke the notes.

[RAZORBACK]

I think Chesapeake will be in a pretty good spot to weather this one under Lawler's reign - they just did an asset sale of $5B cash and announced a $1B buyback. It will force them all to tighten the belts a bit - but some of the bigger players will come out of this stronger than ever.

[JMalin]

Might be my last pad the way things are going. Only a few stages into the first well, with two more after this one. We'll probably be out here for a month with frac having issues with their pumps. Got my backup plan in place. Not sweating it too much. Feel bad for others that feel like they don't have any other options

[Catarina]

any investors want to buy some hotels in the Cotulla area with me and turn them into "illegal alien detention centers"....... its amazing they are still building new ones all over

[JMalin]

any investors want to buy some hotels in the Cotulla area with me and turn them into "illegal alien detention centers"....... its amazing they are still building new ones all over

It's amazing the lack of foresight people have. Reminds me of the banksters/financiers back in 2007. Housing bubble? Nah!

[bphillips]

It's amazing the lack of foresight people have. Reminds me of the banksters/financiers back in 2007. Housing bubble? Nah!

People know it comes and goes but the ones who time it right can be easy made millionaires so sometimes it's worth the risk. Hang around long enough and you'll be looking to time it right and hit it big on a future boom.

[ladrones]

any investors want to buy some hotels in the Cotulla area with me and turn them into "illegal alien detention centers"....... its amazing they are still building new ones all over

Look at what civeo's (CVEO) stock has done in the past few weeks.

[KR-oldmexico]

It's amazing the lack of foresight people have. Reminds me of the banksters/financiers back in 2007. Housing bubble? Nah!

How old were you and what were you doing on 2007????????? Do you have a family?????? Do you have a mortgage?????

Please share all your vast knowledge!!