Hey Oilfield Guys!!

[texansfan]

I heard on Fox business $200 million dollars a day are being saved by the American Consumer. If true that is going to be positive for other areas of the economy. States, like Texas, are going to take a hard hit no doubt but other parts of the economy will benefit.

I'm hearing that every sector of the economy is doing great and on an uptick.
Airlines profits are WAY up and their stock is too.
Unemployment is at a respectable 5.8% (remember when it was double digits).

Healthcare stocks are up.

Only the O+G business is taking a hard hit right now.

[bphillips]

Cresent is doing our directional and they are hiring more directional guys and picking up more work, go figure.

Yep us too we actually can't hire enough but rates will be lowered soon or oil companies will find someone else that will lower them. After crazy prices are in check the crap hands that had to be hired for the boom will be cut (thank goodness) after all that THEN I'll worry about new changes.

[kyle1974]

Prices aren't crazy. They reflect the demand for services.

[kyle1974]

I heard on Fox business $200 million dollars a day are being saved by the American Consumer. If true that is going to be positive for other areas of the economy. States, like Texas, are going to take a hard hit no doubt but other parts of the economy will benefit.

It will be until companies start seeing losses from the products they sell.

Cell phones
Computers
Vehicles
Food
Beer
Building supplies and construction

[mooch]

I'm hearing that every sector of the economy is doing great and on an uptick.
Airlines profits are WAY up and their stock is too.
Unemployment is at a respectable 5.8% (remember when it was double digits).

Healthcare stocks are up.

Only the O+G business is taking a hard hit right now.

No.

[Bily Lovec]

Don’t kid yourselves into thinking its only hammering O&G people.
Keep in mind a lot of the O&G people make a very high income and have an above average amount of disposable income.
When they lose their jobs or hours cut way back, they aren’t shopping and traveling.

[BrianL]

Don’t kid yourselves into thinking its only hammering O&G people.
Keep in mind a lot of the O&G people make a very high income and have an above average amount of disposable income.
When they lose their jobs or hours cut way back, they aren’t shopping and traveling.

True, but also look at every person you see in a vehicle that doesn't work O&G just got and extra $1k in their pocket this next year, IF prices stay low.

[BrandonA]

It will be until companies start seeing losses from the products they sell.

Cell phones
Computers
Vehicles
Food
Beer
Building supplies and construction

Other sectors buy stuff too. Economics is a dynamic ever changing model with so many internal and external vairables. Thats what makes it fascinating.

[bdog14]

I'm wondering if this Cuba move isn't a preemptive measure, since we are playing chicken with the 2nd largest military in the world. Translation: "We'll lift the embargo, just please don't let Russia put anything on your island". My thinking may be somewhat of a conspiracy theory, but it's awful strange timing...

[gingib]

Hopefully all the nonsense per diem, phones, company trucks, extreme salaries, non sense write offs and all that will come to a slow halt

Because it is rediculous the money oilfields throw around because they can

[Sparkles]

Good point Billy.... With cheap gas, we'll all be able
To afford 5,000 acre ranches and private jets. I can't wait

I should have waited to buy my Gulf Stream from oil exec looking to trim fat
Oh well at least jet fuel is getting low

[Daddypants]

Hopefully all the nonsense per diem, phones, company trucks, extreme salaries, non sense write offs and all that will come to a slow halt

Because it is rediculous the money oilfields throw around because they can

How are some of these things ridiculous? Lots of industries give you a company truck, a cell phone, and per diem for working away from your normal workplace.

You use a company phone for company business. Do you know how many work calls I take/make in day, everyday, whether I am at work or not? What about alarms and company email? As for company trucks, do you know how much liability insurance must be carried on them just to be on a lease?

Do you not write everything you legally can off on your taxes?

How does someone else's pay hurt you? Are they taking it from your pocket? I think drilling is overpaid myself, but I don't begrudge them their pay because they are the first to be laid off also. There are many guy that easily make triple what I do, but I don't complain about them. I would like to make that same kind of money, but I don't... Yet.

For every guy that makes "that oilfield money", there are fifty guys making a good living for their families. Not getting rich, but doing better than they were before. Don't get worked up about that young, dumb kid spending money as fast as he makes it. They'll either grow up and learn from their mistakes or they won't. Life goes on.

[haas0311]

How are some of these things ridiculous? Lots of industries give you a company truck, a cell phone, and per diem for working away from your normal workplace.

You use a company phone for company business. Do you know how many work calls I take/make in day, everyday, whether I am at work or not? What about alarms and company email? As for company trucks, do you know how much liability insurance must be carried on them just to be on a lease?

Do you not write everything you legally can off on your taxes?

How does someone else's pay hurt you? Are they taking it from your pocket? I think drilling is overpaid myself, but I don't begrudge them their pay because they are the first to be laid off also. There are many guy that easily make triple what I do, but I don't complain about them. I would like to make that same kind of money, but I don't... Yet.

For every guy that makes "that oilfield money", there are fifty guys making a good living for their families. Not getting rich, but doing better than they were before. Don't get worked up about that young, dumb kid spending money as fast as he makes it. They'll either grow up and learn from their mistakes or they won't. Life goes on.

beat me to it..

[bphillips]

How are some of these things ridiculous? Lots of industries give you a company truck, a cell phone, and per diem for working away from your normal workplace.

You use a company phone for company business. Do you know how many work calls I take/make in day, everyday, whether I am at work or not? What about alarms and company email? As for company trucks, do you know how much liability insurance must be carried on them just to be on a lease?

Do you not write everything you legally can off on your taxes?

How does someone else's pay hurt you? Are they taking it from your pocket? I think drilling is overpaid myself, but I don't begrudge them their pay because they are the first to be laid off also. There are many guy that easily make triple what I do, but I don't complain about them. I would like to make that same kind of money, but I don't... Yet.

For every guy that makes "that oilfield money", there are fifty guys making a good living for their families. Not getting rich, but doing better than they were before. Don't get worked up about that young, dumb kid spending money as fast as he makes it. They'll either grow up and learn from their mistakes or they won't. Life goes on.

That's why we get paid more. First laid off and generally gone the most

I agree with the rest

I got hurt the first time by being that young dumb one now I have no worries other than what I would do with the extra time home

[slicktrick87]

My side of the business, well before poking holes(selling well casing, pup joints, swell packers, etc.) has slowed way down...I was in an 08 fallout...starting to bring back old memories and bad feelings like the ones 6 years ago...save as much as you can and pray for the best!