Hey Oilfield Guys!!

[bphillips]

Topshot I guess you don't know what people were making then when you say that or really what each position does, making between 30-40k month as a experienced DD is not hard...or wasn't before the slow down and there is no manual labor involved

I think that's one of the positions some are mistaking for being so easy to get though.. Very few of the DDs overall would make that every month even during the boom an the ones that did were many years into their careers

[BowOnly81]

I think that's one of the positions some are mistaking for being so easy to get though.. Very few of the DDs overall would make that every month even during the boom an the ones that did were many years into their careers

Ummmm yea, our top guys aren't even paid that. Good money brought home, yea, but not 30-40k!

[JSAPP]

Topshot I guess you don't know what people were making then when you say that or really what each position does, making between 30-40k month as a experienced DD is not hard...or wasn't before the slow down and there is no manual labor involved

This is not accurate...... Not any part of it. Sorry for your confusion.

[Kodiakk]

Someone made the statement that working half the year at 12hr days was a lot more hours than a "normal" 40 hour week.

Stating the actual hours worked(overtime), is irrelevant.
Many jobs have extensive overtime in addition to the stated hours.
The oilfield is not unique in that aspect.
That was my point.
I was attacked for introducing some facts. I apologize for that.

I worked oilfield offshore, my brother worked as a police officer. He would always comment he wouldn't do my job no matter how much it paid since I was always gone and would go insane if he had to stay up 3 days without sleep.

To others out there running their mouths. It's easy money, come get some. If you're unwilling to make the sacrifices or do the work, shut up and sit down.

[cosmiccowboy]

Dang, this thread went downhill fast.

[bphillips]

Dang, this thread went downhill fast.

We will get it back

It's been here almost a year now and has got off track several time haha

[cosmiccowboy]

Hopefully the industry will adjust to lower prices and keep you guys working...I understand technology has significantly lowered the "break even" cost of drilling/fracking. It's pretty obvious at this point prices are headed for the 30's for at least awhile...the weaker players will go bankrupt and default on their junk bonds and the remains will get eaten by the stronger players but they are still going to need good employees to keep things running. The combination of world wide economic weakness and over supply of oil will keep prices down for the foreseeable future but if the industry can learn to live with $50 oil the Saudi's won't get their wish to "kill" Texas fracking completely.

[bphillips]

Hopefully the industry will adjust to lower prices and keep you guys working...I understand technology has significantly lowered the "break even" cost of drilling/fracking. It's pretty obvious at this point prices are headed for the 30's for at least awhile...the weaker players will go bankrupt and default on their junk bonds and the remains will get eaten by the stronger players but they are still going to need good employees to keep things running. The combination of world wide economic weakness and over supply of oil will keep prices down for the foreseeable future but if the industry can learn to live with $50 oil the Saudi's won't get their wish to "kill" Texas fracking completely.

Agreed.. If it stays down too long I'm not too good to drill for the Saudis either. Whoever is drilling is who I will work for

[cosmiccowboy]

The Saudi's are playing an interesting game. Their oil production costs are dirt cheap but the government social spending to keep the natives fat and happy and not overthrow the monarchy is huge. They have large cash reserves to weather the downturn in oil prices for awhile but with their burn rate on reserves they can only play this poker hand for a couple of years before they have to think about folding. At this point the Texas oil industry just has to hang on and survive until then.

[cosmiccowboy]

For what it is worth, I don't think the Saudi's would have ever intentionally overproduced like this to try to hurt the US oil industry if we had a strong conservative President. With Obama's blatant love affair with the Iranians the Saudi's have obviously decided that if we don't care about their friendship they will just have to do whatever they have to do for their own self interest even if it hurts the US.

[mjhaverkamp]

Well I hope it comes back soon so the folks that are being laid off get their jobs back, hopefully it will benefit all of us in one way or another. Speaking of the oil field being hard work, I worked as a roughneck back in the late 70's and early 80's, when the oil field crashed i moved to the DFW area and started pouring concrete, there were many days I said I wish the oil patch would pick back up, this concrete work is a bout to kill me.

[cosmiccowboy]

Lots of different opinions out there. Here is a Credit Suisse economist making the case for $70 oil by the end of the year.

http://www.bloomberg.com/news/articl...nd-of-the-year

[txjustin]

The Saudi's are playing an interesting game. Their oil production costs are dirt cheap but the government social spending to keep the natives fat and happy and not overthrow the monarchy is huge. They have large cash reserves to weather the downturn in oil prices for awhile but with their burn rate on reserves they can only play this poker hand for a couple of years before they have to think about folding. At this point the Texas oil industry just has to hang on and survive until then.

The Saudi's are already borrowing money. Last week (or the one before) they had a bond issuance.
I'm not saying they don't have cash reserves, FYI.

[ladrones]

I have been seeing more and more companies that you would have never seen >75. Plated trucks from Ohio, ND, Penn etc.

[JTeLarkin08]

Im pretty much stuck in the industry until the end unless. Dad has owned the company for 20 years. I pretty much run the place and won't leave unless it goes belly up. we can build other stuff on our machines but I hope it doesn't come to that.