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    Hey Oilfield Guys!!

    Originally posted by JMalin View Post
    Yeah, there's gunna be no more 18 wheelers on the road if producing oil in the eagle ford isn't economically viable. Do you really believe this?

    Do you really believe if the rig count gets cut in half, the same number of trucks will be working?

    Just wait. If this keeps up you'll have an opportunity to see yard full of idle trucks sitting in major hubs all over the state. Plenty of us have seen it many times in the past. Everyone talks about the crash in the 80's, but there have been several since then, 3 since I've been in it.

    Hopefully they're not charging near criminal mark up for their services though...
    " in cahoots". LOL. It's called market pricing.

    What exactly do you do for the frac company?
    Last edited by kyle1974; 11-30-2014, 10:24 PM.

    Comment


      Originally posted by SaltwaterSlick View Post
      Gentlemen (and ladies), it is coming. I have been in some meetings the past few weeks that would scare the heck out of you guys... When I got into the oil patch, we were getting oil from The Shah for $2.00/bbl... I've seen a bunch of booms and busts... they are all very similar, and this one will be no different. The bust will come more from politics than anything. The Saudi's and the US want to teach Putin a lesson, so they will keep the production flowing and glut the market. This will severely hurt Russia's economy, as well as the black market folks like ISIS... The side effect is the high tech ways we are getting the stuff out of the ground, is indeed high tech, but it is also equipment intensive and very expensive. I know for a fact that one of the biggest oil field services companies has a plan ready to go to cut 3 BILLION out of their operating budget within 90 days, and if oil stays below $80.00/bbl, they will push the go button before Dec. 31. The current US administration is trying its best to make the coal industry obsolete by draconian pollution policies. If this service organization indeed cuts 3 billion from its operations budget, there will be more than a few of these youngsters on the street. And like Curt said, it will be more than oil patch hands that will be out of work.

      We are at a critical tipping point right now, and I don't see anything on the immediate horizon to stop us from falling off that cliff. I hope, no I pray I am wrong.
      Charlie I have been telling people the very same thing for a year now. All the local oilfield workers just laugh at me like they are protected. I guess they can't use common sense and understand that oil companies can't complete wells when oil is half price. Bless their hearts when it happens.

      Comment


        Originally posted by JMalin View Post
        Falling prices are exactly what we need in order to fuel real economic growth.

        I don't have a dog in this fight. I work in the oilfield but in a position that would be one of the last to be affected by the lower prices. With that being said this quote is laughable at best. Look back over history. As goes the oil and gas industry so does the economy. The last slow down was 2008, any coincidence the last market collapse was in line with it? I think not.

        You also said that when the oilfield slows down you can just find something else. Ask all of those affected in the 80's and in 2008 how many jobs were available outside of the patch. You might be surprised and in for a rude awakening.

        Comment


          Man I hope it doesn't get real bad like it could. We actually are as busy as ever right now and continue to get orders in. But they could change real fast. It also could affect us getting paid for parts that have already been shipped.

          Comment


            Whew. Hard to keep up here. I'm a lawyer and am in the mortgage business - so I get paid a blend of neck up & nuts to knee. Accordingly, you'll have to forgive my lack of savvy with this energy stuff.

            Now that RLB is back I still want to know how my royalties will be impacted. Moreover, since he got to "tell us so" on the efficient breach of his last contract - I feel compelled to ask who his company's legal counsel is. You see, I owned a part of several companies back a few years ago that did business with this company called Enron, and it seems that this Enron company still owes a bunch of money to those other companies I owned part of. Something to do with contracts and special purpose vehicles - don't think they had wheels though. Hoping maybe they could get that sorted out. I owned some other things that my broker sold me that were insured by this company called AIG. Oh, and something called structured products and principle protected notes that were put together by these brothers by the last name of Lehman.
            I hadn't seen a dime from those boys in a good long while, and since your lawyers have been kicking butt and taking names of late I was hoping maybe they could help me out too - might need some of that money back if the oil checks keep getting smaller every month.

            Appreciate it.


            Oh, and anybody seen Burnadell?

            Comment


              Originally posted by Porterhouse View Post
              Whew. Hard to keep up here. I'm a lawyer and am in the mortgage business - so I get paid a blend of neck up & nuts to knee. Accordingly, you'll have to forgive my lack of savvy with this energy stuff.

              Now that RLB is back I still want to know how my royalties will be impacted. Moreover, since he got to "tell us so" on the efficient breach of his last contract - I feel compelled to ask who his company's legal counsel is. You see, I owned a part of several companies back a few years ago that did business with this company called Enron, and it seems that this Enron company still owes a bunch of money to those other companies I owned part of. Something to do with contracts and special purpose vehicles - don't think they had wheels though. Hoping maybe they could get that sorted out. I owned some other things that my broker sold me that were insured by this company called AIG. Oh, and something called structured products and principle protected notes that were put together by these brothers by the last name of Lehman.
              I hadn't seen a dime from those boys in a good long while, and since your lawyers have been kicking butt and taking names of late I was hoping maybe they could help me out too - might need some of that money back if the oil checks keep getting smaller every month.

              Appreciate it.


              Oh, and anybody seen Burnadell?

              For the win.....


              My Uncle retired and gave Lehman brothers 10 million and lost it all within a week. I saw him at my grandmothers funeral and he had a custom Breitling watch on that F L B on the face of it. I'm sure you can figure it out.

              He hasn't seen much out of them either but he keeps hoping that Bernie Madoch will bail them out.

              Comment


                Originally posted by rtp View Post
                If there was a place it could be put to "better use", it would have already been put there. Capital is looking for the best return.
                Solyndra????

                sorry, couldn't resist...well we did send millions there and by we, I mean this administration

                Comment


                  Originally posted by doppelganger View Post
                  solyndra????

                  Sorry, couldn't resist...well we did send billions there and by we, i mean this administration

                  fify!!!

                  Comment


                    Originally posted by doppelganger View Post
                    Solyndra????

                    sorry, couldn't resist...well we did send millions there and by we, I mean this administration
                    well, we've sent BILLIONS to other green/alternative energy companies, but for solyndra I think it was a bit over 1/2 Billion...

                    Needless to say, if your gonna do it, go big!!!!

                    I love the fact how the anti-petroleum groups bark about oil being bad and how we need green cars, but they dang sure wouldn't give up there petroleum based smartphone components, cosmetics, furniture, car parts, and the list goes on and on and on

                    Comment


                      Originally posted by doppelganger View Post
                      well, we've sent BILLIONS to other green/alternative energy companies, but for solyndra I think it was a bit over 1/2 Billion...

                      Needless to say, if your gonna do it, go big!!!!

                      I love the fact how the anti-petroleum groups bark about oil being bad and how we need green cars, but they dang sure wouldn't give up there petroleum based smartphone components, cosmetics, furniture, car parts, and the list goes on and on and on
                      It would have been more had it not been for that datgum "Cash For Clunkers" program.

                      Comment


                        Originally posted by kyle1974 View Post
                        Do you realize to tout "growth" in a given industry the same industry can't crash that grows?

                        If the oilfield crashes, trucking will crash.

                        Maybe the guys and trucks that lost work might start hauling something else, But it will be items that have tight profit margins and will not be getting premium rates like they are right now in the oilfield.
                        That is not a "crash". It is called Supply and Demand. Just because they won't be getting "premium" rates does not mean it is a crash.

                        Comment


                          Originally posted by Death Dealer View Post
                          I don't have a dog in this fight. I work in the oilfield but in a position that would be one of the last to be affected by the lower prices. With that being said this quote is laughable at best. Look back over history. As goes the oil and gas industry so does the economy. The last slow down was 2008, any coincidence the last market collapse was in line with it? I think not.

                          You also said that when the oilfield slows down you can just find something else. Ask all of those affected in the 80's and in 2008 how many jobs were available outside of the patch. You might be surprised and in for a rude awakening.
                          The slow down in 2008 had absolutely ZERO to do with oil. Oil prices fell because of a World wide recession which mainly had to do with bad loans. Not the other way around. "Oil does not control the economy but the economy can control oil".

                          Comment


                            Originally posted by Take Dead Aim View Post
                            The slow down in 2008 had absolutely ZERO to do with oil. Oil prices fell because of a World wide recession which mainly had to do with bad loans. Not the other way around.

                            "Oil does not control the economy but the economy can control oil".
                            LOL.... keep um coming...

                            Comment


                              Originally posted by Death Dealer View Post
                              I don't have a dog in this fight. I work in the oilfield but in a position that would be one of the last to be affected by the lower prices. With that being said this quote is laughable at best. Look back over history. As goes the oil and gas industry so does the economy. The last slow down was 2008, any coincidence the last market collapse was in line with it? I think not.

                              You also said that when the oilfield slows down you can just find something else. Ask all of those affected in the 80's and in 2008 how many jobs were available outside of the patch. You might be surprised and in for a rude awakening.

                              Really
                              You think the 2008 collapse was about oil?
                              You don't think other things were on a huge down turn late 2007 early 2008 to contribute to the falling oil prices? I can assure you it had very little to do with oil.

                              Comment


                                In 2007, 2008 there were not near as many rigs drilling oil in Texas. Most were natural gas. The economy was tanking, demand for gas was decreasing and the bottom just fell out. It seems the price was up to $10-$12 per MCF, and once it got below $5, the rigs started dropping. I was in east Texas at the time and there were around 400 in etx and north LA. It's still slow up there and has never really did recover.

                                Comment

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