Reply
Go Back   TexasBowhunter.com Community Discussion Forums > Topics > Around the Campfire
 
Thread Tools Display Modes
Old 09-17-2014, 11:03 PM   #1
bphillips
Pope & Young
 
bphillips's Avatar
 
Join Date: Aug 2010
Location: San Angelo, Tx
Hunt In: Schleicher, Tom Green Co.
Default Hey Oilfield Guys!!

PLEASE PLEASE PLEASE be saving some money!!

I am starting to see lots of the same really bad habits that left lots of guys in trouble the last time the work died off. I understand the toys and trucks thing and thats all fine and good if you have some good savings accumulated. I would hate to see some of you guys get in a big bind should the work be gone soon. I know many of you may hear "we have 10 years of work around here" because that is a common phrase but the fact is if oil ever drops so will the work. Just because the work is there doesn't mean it's worth going after to all the companies.

I give this reminder because I personally know of a couple guys with 100k+ salaries that have to finance furniture or TVs and even one that makes over 300k that never has a dime in his pocket.

Have fun but be careful fellas.
bphillips is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:08 PM   #2
Biggs
Ten Point
 
Biggs's Avatar
 
Join Date: Feb 2008
Location: Williston, ND
Hunt In: North Dakota
Default

Haha. So true
Biggs is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:10 PM   #3
kyle1974
Pope & Young
 
kyle1974's Avatar
 
Join Date: Dec 2007
Location: The Bluff, America
Hunt In: McMullen / Refugio
Default

lots and lots and lots of people in the oilfield right now that have 4 or 5 years of experience... the ones that got hired right after the last slow down. they haven't seen it, and it's hard to understand how fast it happens unless you've gone through it.
kyle1974 is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:11 PM   #4
KR-oldmexico
Pope & Young
 
KR-oldmexico's Avatar
 
Join Date: Jan 2010
Location: Groesbeck, Tx
Hunt In: South Texas & Old Mexico
Default

Quote:
Originally Posted by bphillips View Post
PLEASE PLEASE PLEASE be saving some money!!

I am starting to see lots of the same really bad habits that left lots of guys in trouble the last time the work died off. I understand the toys and trucks thing and thats all fine and good if you have some good savings accumulated. I would hate to see some of you guys get in a big bind should the work be gone soon. I know many of you may hear "we have 10 years of work around here" because that is a common phrase but the fact is if oil ever drops so will the work. Just because the work is there doesn't mean it's worth going after to all the companies.

I give this reminder because I personally know of a couple guys with 100k+ salaries that have to finance furniture or TVs and even one that makes over 300k that never has a dime in his pocket.

Have fun but be careful fellas.
Hell just sell me that Camero! Then I'll quit spending.
KR-oldmexico is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:14 PM   #5
Ducksmith
Six Point
 
Ducksmith's Avatar
 
Join Date: Feb 2008
Location: Tyler
Default

Not just oilfield!! Good advice

Our whole project in oil and gas that has been going for 5 years got whacked today.......

Last edited by Ducksmith; 09-17-2014 at 11:19 PM..
Ducksmith is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:15 PM   #6
louieagarcia
Pope & Young
 
louieagarcia's Avatar
 
Join Date: Nov 2006
Location: Kingwood, Tx
Hunt In: Planet Earth
Default

It's like riding a roller coaster...ups and downs
louieagarcia is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:15 PM   #7
Boyd1212
Ten Point
 
Boyd1212's Avatar
 
Join Date: Aug 2010
Location: Rhome Texas
Hunt In: Wise, SanSaba, and Clay county
Default

Very true! I went up to the Bakken and the contract was pulled last week. Good news is that I put money back just incase. I have a few months worth of bill money put back so if I didn't find a job right away I would be ok. More good news is that I'm headed back to Texas!
Boyd1212 is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:20 PM   #8
Ducksmith
Six Point
 
Ducksmith's Avatar
 
Join Date: Feb 2008
Location: Tyler
Default

Quote:
Originally Posted by Boyd1212 View Post
Very true! I went up to the Bakken and the contract was pulled last week. Good news is that I put money back just incase. I have a few months worth of bill money put back so if I didn't find a job right away I would be ok. More good news is that I'm headed back to Texas!
Come on home brother. Safe travels
Ducksmith is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:21 PM   #9
Froggy
Pope & Young
 
Froggy's Avatar
 
Join Date: Oct 2006
Location: Decatur, Texas
Hunt In: Wise/Montague/Public land
Default

Your advice applies to any profession. Life can throw you curve balls.

I wish I had started younger. I was like an old comedian I heard one time say "I've never wasted a dime, I spent it all on wine and women."

I see so many young people start adult life thinking they have to have it all. Big house, new cars, newest electronics, etc. They end up so deeply in debt it takes them years to shovel their way out of the debt hole.

Save when you are young. Compound interest is a wonderful thing.
Froggy is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:29 PM   #10
M16
Pope & Young
 
M16's Avatar
 
Join Date: Dec 2009
Hunt In: Colorado, LaSalle, McCulloch,Menard Counties
Default

Quote:
Originally Posted by Froggy View Post
Compound interest is a wonderful thing.
It used to be a wonderful thing. Compounding .5% doesn't do much.
M16 is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:45 PM   #11
Smithwr
Ten Point
 
Smithwr's Avatar
 
Join Date: Feb 2014
Location: Midlothian TX
Hunt In: Vernon TX
Default

Sound advise. Im still a relatively young man at 31 but I rode out the barnett shale and had my own business, didnt put a dime back and went teets up(but I had a ton of fun). Now I intend to make this one last a little longer, I have a great wife now who hordes money like they dont make it anymore and thats the best thing that has ever happened to me. I am riding this one out the right way and if that Cline will ever kick off i could have something to show. An old hand told me one time "when you see welders for sale, get out" I think hes on to something.
Smithwr is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:49 PM   #12
Black Ice
Pope & Young
 
Black Ice's Avatar
 
Join Date: Oct 2011
Location: Baton Rouge
Hunt In: Jefferson & Brooks County
Default Hey Oilfield Guys!!

Good advice for anyone!
Black Ice is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:51 PM   #13
Skinny
Pope & Young
 
Skinny's Avatar
 
Join Date: Mar 2010
Location: Forestburg,Tx
Hunt In: Montague County
Default Hey Oilfield Guys!!

I love my job on the production side...
Skinny is online now   Reply With Quote Back To The Top
Old 09-17-2014, 11:52 PM   #14
rubydog
Pope & Young
 
rubydog's Avatar
 
Join Date: Apr 2009
Location: A rock house
Hunt In: A tall tree
Default

Our little town is full of 30 somethings living rockstar lifestyles. Brand new vehicles parked in front of 400k homes and a sticker on one that says "Oil field trash spending oilfield cash" and the other says " Oilfield honey spending that oilfield money."

And yes they all say they have decades of oilfield work ahead.
rubydog is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:57 PM   #15
JMalin
Banned!!!
 
Join Date: Feb 2014
Location: Texas
Hunt In: Gillespie and Edwards County
Default

Just give me two good years to get ahead and figure out what I really want to do with my life lol. I don't foresee cheap oil any time soon with America's addiction to spending/debt along with reckless monetary policy, but who knows? Maybe all the production going on will finally catch up and a glut of supply will bring prices down.

So, if I do want to make a career in the oil patch, what are some jobs that'll be around regardless if prices fall?

Last edited by JMalin; 09-18-2014 at 12:00 AM..
JMalin is offline   Reply With Quote Back To The Top
Old 09-17-2014, 11:57 PM   #16
kyle1974
Pope & Young
 
kyle1974's Avatar
 
Join Date: Dec 2007
Location: The Bluff, America
Hunt In: McMullen / Refugio
Default

Quote:
Originally Posted by Hogdude1234 View Post
I love my job on the production side...
the wells are only there because someone drilled them
kyle1974 is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:03 AM   #17
Smithwr
Ten Point
 
Smithwr's Avatar
 
Join Date: Feb 2014
Location: Midlothian TX
Hunt In: Vernon TX
Default

Quote:
Originally Posted by kyle1974 View Post
the wells are only there because someone drilled them
And they will produce day after day, long after the drilling is done.
Smithwr is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:15 AM   #18
Skinny
Pope & Young
 
Skinny's Avatar
 
Join Date: Mar 2010
Location: Forestburg,Tx
Hunt In: Montague County
Default Hey Oilfield Guys!!

Quote:
Originally Posted by kyle1974 View Post
the wells are only there because someone drilled them


Quote:
Originally Posted by Smithwr View Post
And they will produce day after day, long after the drilling is done.

Yup. Y'all drill them good and we will keep them producing for years to come...looooong after the rigs are gone.

Let's all hope that the engineers and geologist keep finding the good stuff so we all can keep on keeping on.

The company I work for will never quit poking holes....once you stop doing that you've pretty much given up.

Cheers.

Last edited by Skinny; 09-18-2014 at 12:18 AM..
Skinny is online now   Reply With Quote Back To The Top
Old 09-18-2014, 12:19 AM   #19
louieagarcia
Pope & Young
 
louieagarcia's Avatar
 
Join Date: Nov 2006
Location: Kingwood, Tx
Hunt In: Planet Earth
Default

Reminded me of an old thread...if I could just see into the future
http://discussions.texasbowhunter.co...ad.php?t=65733
louieagarcia is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:25 AM   #20
bphillips
Pope & Young
 
bphillips's Avatar
 
Join Date: Aug 2010
Location: San Angelo, Tx
Hunt In: Schleicher, Tom Green Co.
Default

Quote:
Originally Posted by Hogdude1234 View Post
I love my job on the production side...
Been there and done that I won't fight you for it
Quote:
Originally Posted by Hogdude1234 View Post
Yup. Y'all drill them good and we will keep them producing for years to come...looooong after the rigs are gone.

Let's all hope that the engineers and geologist keep finding the good stuff so we all can keep on keeping on.

The company I work for will never quit poking holes....once you stop doing that you've pretty much given up.

Cheers.
Yea they will keep going eventually but slowdowns are part of it. If the rigs were just gone for good it would all slow down. Wells pump off and slow production after awhile and fewer and fewer pumpers and such would be needed. I've had several plugged while I was doing it.

I have good connections around home and last time it tanked I just went back to pumping but some aren't so lucky. The big drilling money will always come back but when is always the ??

Last edited by bphillips; 09-18-2014 at 12:28 AM..
bphillips is online now   Reply With Quote Back To The Top
Old 09-18-2014, 05:09 AM   #21
Ragin'
Pope & Young
 
Ragin''s Avatar
 
Join Date: Oct 2006
Location: Montgomery, Texas
Hunt In: Village Mills Texas, Houston County Texas, Mission Valley Texas, Montgomery County Texas
Default

Quote:
Originally Posted by bphillips View Post
PLEASE PLEASE PLEASE be saving some money!!



I am starting to see lots of the same really bad habits that left lots of guys in trouble the last time the work died off. I understand the toys and trucks thing and thats all fine and good if you have some good savings accumulated. I would hate to see some of you guys get in a big bind should the work be gone soon. I know many of you may hear "we have 10 years of work around here" because that is a common phrase but the fact is if oil ever drops so will the work. Just because the work is there doesn't mean it's worth going after to all the companies.



I give this reminder because I personally know of a couple guys with 100k+ salaries that have to finance furniture or TVs and even one that makes over 300k that never has a dime in his pocket.



Have fun but be careful fellas.

Rockin the 2 year old 125,000 mile Dodge 4Door Sport package that costed me $26K brand new.
Ragin' is online now   Reply With Quote Back To The Top
Old 09-18-2014, 05:37 AM   #22
kumathebear
Pope & Young
 
kumathebear's Avatar
 
Join Date: Feb 2014
Location: DFW area
Hunt In: Anywhere and when I can!
Default

It's great to see you "younger" folks aware of what can happen and looking ahead. I rode the "high life" for many years and all it takes is ONE loss of income and it can come crashing down with a vengeance. Put as much back as you can, enjoy some "perks" while you can and most of all....if you hate what you are doing, there is NEVER enough $$ or "toys." I'm thankful every day when I get in my PAID for '05 4x4 Avalanche that still looks new...vs the Biggest, Baddest, Loaded up with everything 4x4 I used to have. Oh, not having $800 payments a month is Greattttttttt!!
kumathebear is offline   Reply With Quote Back To The Top
Old 09-18-2014, 05:38 AM   #23
LWD
Ten Point
 
LWD's Avatar
 
Join Date: Jan 2013
Location: Grapevine
Hunt In: Young County and anywhere else I can
Default

Please dear God just give me one more boom. This time I promise I won't ***X it all away.......

LWD
LWD is offline   Reply With Quote Back To The Top
Old 09-18-2014, 08:22 AM   #24
Smithwr
Ten Point
 
Smithwr's Avatar
 
Join Date: Feb 2014
Location: Midlothian TX
Hunt In: Vernon TX
Default

Quote:
Originally Posted by kumathebear View Post
It's great to see you "younger" folks aware of what can happen and looking ahead. I rode the "high life" for many years and all it takes is ONE loss of income and it can come crashing down with a vengeance. Put as much back as you can, enjoy some "perks" while you can and most of all....if you hate what you are doing, there is NEVER enough $$ or "toys." I'm thankful every day when I get in my PAID for '05 4x4 Avalanche that still looks new...vs the Biggest, Baddest, Loaded up with everything 4x4 I used to have. Oh, not having $800 payments a month is Greattttttttt!!
'05? High cotton! Im rockin a '98 jeep tj! But the wife and soon to be welped baby have a new rig, Lord please let me pay for that one.
Smithwr is offline   Reply With Quote Back To The Top
Old 09-18-2014, 08:29 AM   #25
deer farmer
Ten Point
 
deer farmer's Avatar
 
Join Date: Jul 2013
Location: Shreveport
Hunt In: Harrison Co and other places
Default

I have seen many bust in the oil field since 1975. the most recent was in natural gas. Not to many drilling for nat gas @ 4.00. And oil price will come down, in fact the pipe line from Canada when its finally approved, I think will drop drilling for oil because of the large amount coming to the refineries. I got my wish, where please lord one more boom and I promise not to **** it off, has come and I don't think they can hurt me now. And I'm now thinking, will maybe they can Anyway the young guys aree not going to change, driving nice trucks and party hard
deer farmer is offline   Reply With Quote Back To The Top
Old 09-18-2014, 08:36 AM   #26
Skinny
Pope & Young
 
Skinny's Avatar
 
Join Date: Mar 2010
Location: Forestburg,Tx
Hunt In: Montague County
Default

With the daily production of the wells in the EF, it seems if the price of oil did drop we'd still be good...crazy oil prod down there, as y'all know.
Skinny is online now   Reply With Quote Back To The Top
Old 09-18-2014, 08:49 AM   #27
Biggs
Ten Point
 
Biggs's Avatar
 
Join Date: Feb 2008
Location: Williston, ND
Hunt In: North Dakota
Default

I don't even have a car!
Biggs is online now   Reply With Quote Back To The Top
Old 09-18-2014, 08:52 AM   #28
Tbone3636
Eight Point
 
Tbone3636's Avatar
 
Join Date: Feb 2013
Location: Weatherford, Tx
Hunt In: Texas
Default

Just work enough and you can buy all that stuff, pay it off and have a bunch stacked away!... Then just flip burgers till the next one comes around... That's my plan lol
Tbone3636 is offline   Reply With Quote Back To The Top
Old 09-18-2014, 08:58 AM   #29
txwhitetail
Ten Point
 
txwhitetail's Avatar
 
Join Date: Apr 2014
Location: San Angelo
Hunt In: Irion Co
Default

65k pickup and escalade vehicles in front of 10k trailer homes is even better!
txwhitetail is offline   Reply With Quote Back To The Top
Old 09-18-2014, 08:59 AM   #30
bphillips
Pope & Young
 
bphillips's Avatar
 
Join Date: Aug 2010
Location: San Angelo, Tx
Hunt In: Schleicher, Tom Green Co.
Default

Quote:
Originally Posted by deer farmer View Post
I have seen many bust in the oil field since 1975. the most recent was in natural gas. Not to many drilling for nat gas @ 4.00. And oil price will come down, in fact the pipe line from Canada when its finally approved, I think will drop drilling for oil because of the large amount coming to the refineries. I got my wish, where please lord one more boom and I promise not to **** it off, has come and I don't think they can hurt me now. And I'm now thinking, will maybe they can Anyway the young guys aree not going to change, driving nice trucks and party hard
Don't get me wrong I'll still have a nice diesel truck and go hunt the world but I made sure I have a couple years worth of bills in savings first. I was one of the reckless roughnecks when '08 came around and it hit hard. Some of the newer guys haven't got to see that yet.
Quote:
Originally Posted by Hogdude1234 View Post
With the daily production of the wells in the EF, it seems if the price of oil did drop we'd still be good...crazy oil prod down there, as y'all know.
Yea but drilling will stop or at least slow waaay down until it comes back up. It is still profitable way lower than where we are but not as profitable
Quote:
Originally Posted by Tbone3636 View Post
Just work enough and you can buy all that stuff, pay it off and have a bunch stacked away!... Then just flip burgers till the next one comes around... That's my plan lol
LOL thats my plan now or maybe just sit it out at the house

Its crazy what you can save out here if you just make yourself do it
bphillips is online now   Reply With Quote Back To The Top
Old 09-18-2014, 09:00 AM   #31
wow
Ten Point
 
Join Date: Feb 2012
Location: Sheridan
Hunt In: Colorado, Lavaca, and any where im invited
Default

Went through the busts in the 70s and 80s you could go up in the derrick and all you could see were drilling rigs. in 85 you lucky to see one. Most banks were the biggest car lots around.
wow is offline   Reply With Quote Back To The Top
Old 09-18-2014, 09:10 AM   #32
Mike D
Pope & Young
 
Mike D's Avatar
 
Join Date: Oct 2006
Location: North Texas
Hunt In: Haskell County, TX
Default

Quote:
Originally Posted by wow View Post
Went through the busts in the 70s and 80s you could go up in the derrick and all you could see were drilling rigs. in 85 you lucky to see one. Most banks were the biggest car lots around.

Yep, I went through the 80's bust.

I WILL happen again.

Even on the production side I saw wells that normally produced several hundred barrels per day, I saw pumping units sit dead still because it was cheaper to shut them down than to keep them running.
Mike D is offline   Reply With Quote Back To The Top
Old 09-18-2014, 09:12 AM   #33
bphillips
Pope & Young
 
bphillips's Avatar
 
Join Date: Aug 2010
Location: San Angelo, Tx
Hunt In: Schleicher, Tom Green Co.
Default

Quote:
Originally Posted by Mike D View Post
Yep, I went through the 80's bust.

I WILL happen again.

Even on the production side I saw wells that normally produced several hundred barrels per day, I saw pumping units sit dead still because it was cheaper to shut them down than to keep them running.
YEP!!

Some of the guys forget that this will happen also. I went to pumping from roughnecking in '08 and some of our wells were done the same. Waiting on the oil price to come back

Production is a little safer but when cuts come they are across the board
bphillips is online now   Reply With Quote Back To The Top
Old 09-18-2014, 09:14 AM   #34
mjhaverkamp
Pope & Young
 
Join Date: Jun 2008
Location: Southlake, Texas
Hunt In: Cooke, Wilbarger, Foard Counties
Default

Quote:
Originally Posted by wow View Post
Went through the busts in the 70s and 80s you could go up in the derrick and all you could see were drilling rigs. in 85 you lucky to see one. Most banks were the biggest car lots around.
I remember back in 1982-83 I was working at National Supply building mud pumps and off shore cranes, the company was over a year behind on production, just like that the light switch went off, 1300 employees were laid off in just a few months, that company never re-opened. I went back to roughnecking after that, it was like a part time job, every now and then the driller would call and say, " we got one to drill, woohoo ! " The OP is spot on, save tour coins, sooner or later you will need them.
mjhaverkamp is offline   Reply With Quote Back To The Top
Old 09-18-2014, 09:16 AM   #35
gingib
Pope & Young
 
Join Date: Aug 2014
Location: Central Tx
Hunt In: NTX
Default

yep so sad! Because most don't have a clue about saving money

It affects their EGO also
gingib is offline   Reply With Quote Back To The Top
Old 09-18-2014, 09:32 AM   #36
IOWA BOW HUNTER
Eight Point
 
IOWA BOW HUNTER's Avatar
 
Join Date: Nov 2011
Location: Iowa
Hunt In: midwest
Default

So true
IOWA BOW HUNTER is offline   Reply With Quote Back To The Top
Old 09-18-2014, 09:37 AM   #37
kparker158
Ten Point
 
kparker158's Avatar
 
Join Date: Jul 2012
Location: Porter Tx
Hunt In: Public and Private Lands of East Texas
Default

Quote:
Originally Posted by txwhitetail View Post
65k pickup and escalade vehicles in front of 10k trailer homes is even better!
You drove past my house? Lol just kidding. Kinda
kparker158 is offline   Reply With Quote Back To The Top
Old 09-18-2014, 10:03 AM   #38
JAGR
Ten Point
 
JAGR's Avatar
 
Join Date: May 2011
Location: Corpus Christi, TX
Hunt In: South Texas
Default

Solid advice.

This industry is a roller coaster ride that's for sure.
JAGR is offline   Reply With Quote Back To The Top
Old 09-18-2014, 10:18 AM   #39
Saltgrass Mikerr
Ten Point
 
Saltgrass Mikerr's Avatar
 
Join Date: Apr 2010
Location: Pearland, TX
Hunt In: anywhere
Default

Quote:
Originally Posted by Biggs View Post
I don't even have a car!
You must NOT work in the oilfield
Saltgrass Mikerr is offline   Reply With Quote Back To The Top
Old 09-18-2014, 10:49 AM   #40
fullsizeaggie
Ten Point
 
fullsizeaggie's Avatar
 
Join Date: Jul 2013
Location: St. Hedwig
Hunt In: Missouri, East TX
Default

The only reason for me to get into the oilfield within the future would be to stock away cash!
fullsizeaggie is offline   Reply With Quote Back To The Top
Old 09-18-2014, 10:53 AM   #41
Shallowater
Ten Point
 
Shallowater's Avatar
 
Join Date: Oct 2013
Location: Aledo, Texas
Hunt In: Parker County, New Mexico
Default

Teaching the Dave Ramsey class right now at my church. It should be mandatory for all college grads and oil field guys. Heck it should be mandatory for everyone to sit through it. It couldn't hurt.
Shallowater is offline   Reply With Quote Back To The Top
Old 09-18-2014, 11:04 AM   #42
cvanbrunt
Ten Point
 
cvanbrunt's Avatar
 
Join Date: Oct 2012
Location: Tarrant County
Hunt In: Jack County
Default

Quote:
Originally Posted by Shallowater View Post
Teaching the Dave Ramsey class right now at my church. It should be mandatory for all college grads and oil field guys. Heck it should be mandatory for everyone to sit through it. It couldn't hurt.
Which church? The wife and I have talked about attending but havent found one on the nights we're free.
cvanbrunt is offline   Reply With Quote Back To The Top
Old 09-18-2014, 11:09 AM   #43
bphillips
Pope & Young
 
bphillips's Avatar
 
Join Date: Aug 2010
Location: San Angelo, Tx
Hunt In: Schleicher, Tom Green Co.
Default

Quote:
Originally Posted by Shallowater View Post
Teaching the Dave Ramsey class right now at my church. It should be mandatory for all college grads and oil field guys. Heck it should be mandatory for everyone to sit through it. It couldn't hurt.
May be good for some but I'll take a hard pass on the Ramsey stuff
bphillips is online now   Reply With Quote Back To The Top
Old 09-18-2014, 12:24 PM   #44
txjustin
Ten Point
 
txjustin's Avatar
 
Join Date: Jul 2014
Location: Rosenberg
Hunt In: Fort Bend and Brazoria Counties
Default

Quote:
Originally Posted by Ducksmith View Post
Not just oilfield!! Good advice

Our whole project in oil and gas that has been going for 5 years got whacked today.......
You work for Jacobs?
txjustin is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:38 PM   #45
csmith936
Ten Point
 
csmith936's Avatar
 
Join Date: Jul 2013
Location: Nacogdoches
Hunt In: Nacogdoches Co/Houston Co
Default

If you play your cards right, you can save enough money in a few years to buy/build a house and have it paid for so if our industry ever came crashing down you wouldn't have a huge mortgage......Buttttt some people would rather blow it on new jacked up diesels, $30,000 side by sides, single wide trailers, and partying...and get this.....THEY STILL LIVE PAYCHECK TO PAYCHECK. It just blows me away.....but to each their own I guess
csmith936 is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:48 PM   #46
Rotney
Ten Point
 
Rotney's Avatar
 
Join Date: May 2010
Location: Allen TX
Hunt In: Wherever I can
Default

Quote:
Originally Posted by wow View Post
Went through the busts in the 70s and 80s you could go up in the derrick and all you could see were drilling rigs. in 85 you lucky to see one. Most banks were the biggest car lots around.
Yep, not a fun time at all. Rig count in Texas, if i remember correctly, went from 1500 drilling down to nearly nothing. Midland/Odessa was a ghost town with fields of rig equipment. I was working in S Texas, Zapata, and it shut down quick. Then the Savings and Loan crisis. That was not a fun time.

Save boys Save
Rotney is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:53 PM   #47
gingib
Pope & Young
 
Join Date: Aug 2014
Location: Central Tx
Hunt In: NTX
Default

Quote:
Originally Posted by bphillips View Post
May be good for some but I'll take a hard pass on the Ramsey stuff
HMMMMMM

Hard to challenge what works and is recommended daily by wealth managers
gingib is offline   Reply With Quote Back To The Top
Old 09-18-2014, 12:54 PM   #48
Ragin'
Pope & Young
 
Ragin''s Avatar
 
Join Date: Oct 2006
Location: Montgomery, Texas
Hunt In: Village Mills Texas, Houston County Texas, Mission Valley Texas, Montgomery County Texas
Default

Quote:
Originally Posted by Rotney View Post
Yep, not a fun time at all. Rig count in Texas, if i remember correctly, went from 1500 drilling down to nearly nothing. Midland/Odessa was a ghost town with fields of rig equipment. I was working in S Texas, Zapata, and it shut down quick. Then the Savings and Loan crisis. That was not a fun time.



Save boys Save

I remember. My daddy was an oilfield superintendent. I was only 10 years old or so. It went from feast to famine!!! That why I don't hardly finance crap. Except just enough for my credit score.
Ragin' is online now   Reply With Quote Back To The Top
Old 09-18-2014, 01:02 PM   #49
Smithwr
Ten Point
 
Smithwr's Avatar
 
Join Date: Feb 2014
Location: Midlothian TX
Hunt In: Vernon TX
Default

Quote:
Originally Posted by Ragin' View Post
I remember. My daddy was an oilfield superintendent. I was only 10 years old or so. It went from feast to famine!!! That why I don't hardly finance crap. Except just enough for my credit score.
Is kills me to finance anything also. I had to finally give in for a new durango for the wife. I figured I got my moneys worth on her old one, 200k miles on a 4 banger cavalier. I put several g's down but it still hurt me bad to sign that line for the balance.
Smithwr is offline   Reply With Quote Back To The Top
Old 09-18-2014, 01:05 PM   #50
Burnadell
Pope & Young
 
Burnadell's Avatar
 
Join Date: Oct 2006
Location: White Oak
Default

The founder of our company, Edward Jones, used to say, "make hay while the sun is shining...but ALWAYS put some in the barn for rainy days."
Burnadell is offline   Reply With Quote Back To The Top
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 08:34 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Copyright 1999-2012, TexasBowhunter.com