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Old 12-21-2014, 05:58 AM   #601
teamron
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Originally Posted by Burnadell View Post
Please explain your hours. You posted this on Friday, so you work more than 20 hours a day...or did I miscalculate?

What exactly do you do and what are your hours?
Probably works 14 or 15 hours a day, 7 days a week. I work in North Dakota 21 days straight with no days off, 12 to 16 hours a day. You get used to it. Anyway 50 to 60 hours of overtime pay is where you make your money. Housing,company truck and fuel are paid for, all I pay for is food and a 400 dollar plane ticket each month to live the dream...lol
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Old 12-21-2014, 07:34 AM   #602
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BOY!!!! You are something else! I haven't seen a post you've made yet that......... Well never mind you'll figure it out one of these days!
yep!
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Old 12-21-2014, 05:07 PM   #603
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Most of those guys I know work a 7on 7off schedule to make that. Lots of money to work half a year and probably get more actual time home than someone working a regular job.
Most people I know work for a service company and not for a driller or in production.

I agree, 7 on 7 off wouldn't be bad.
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Old 12-21-2014, 08:24 PM   #604
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When i finally get on with haliburton, itll be 14 on 7 off.
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Old 01-05-2015, 09:39 AM   #605
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Any luck guys?
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Old 01-05-2015, 09:46 AM   #606
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Any luck guys?
The company I work for ( somewhere around 40 employees ) layed off 2 service hands last week. Our assembly guys arent building much. Machine shop ( where I work ) still has plenty to do but we have pulled in all the work we had subbed out. Not going to be a fun ride, but this isnt my first rodeo.
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Old 01-05-2015, 10:29 AM   #607
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Now that WTI is at ~$50/BBL I think this is one that should stay bumped and updates added.
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Old 01-05-2015, 11:04 AM   #608
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We went from 700 people to 250 today. No warning, hell we were told to hire more people last week. I'm still here but hours have been cut by a 1/3rd. Not sure what will happen next. But I did save 15% on my last fill up.
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Old 01-05-2015, 11:33 AM   #609
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We went from 700 people to 250 today. No warning, hell we were told to hire more people last week. I'm still here but hours have been cut by a 1/3rd. Not sure what will happen next.

But I did save 15% on my last fill up.


and think about all the new friends you'll make standing in the unemployment line...
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Old 01-05-2015, 11:37 AM   #610
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and think about all the new friends you'll make standing in the unemployment line...
Not funny when some of us that are getting laid off are the only one's presently working to keep food in our kids bellies and a roof over our heads..
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Old 01-05-2015, 11:41 AM   #611
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We went from 700 people to 250 today. No warning, hell we were told to hire more people last week. I'm still here but hours have been cut by a 1/3rd. Not sure what will happen next. But I did save 15% on my last fill up.
And companies want employees to be loyal....
Bad deal...
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Old 01-05-2015, 12:02 PM   #612
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We went from 700 people to 250 today. No warning, hell we were told to hire more people last week. I'm still here but hours have been cut by a 1/3rd. Not sure what will happen next. But I did save 15% on my last fill up.
You may have said it before, but what company do you work for Dru?

Sorry to hear of the layoffs and reduction in hours.

Being new to O&G (sales/service), I'm naturally a little nervous about where things are headed, although we've been assured our company is in good shape to weather a downturn (and actually are still in a hiring mode). Until I hear otherwise, I'm going to keep selling and saving (and praying!)
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Old 01-05-2015, 12:05 PM   #613
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Not funny when some of us that are getting laid off are the only one's presently working to keep food in our kids bellies and a roof over our heads..
He was continuing the sarcasm from Dru
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Old 01-05-2015, 12:09 PM   #614
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Wow. I own my own business trucking oilfield equipment and my butt is super stressed over all this. I've been hesitant to even open this thread. As of right now everything seems to be steady for me. I truck heavy construction equipment.
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Old 01-05-2015, 12:39 PM   #615
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I got lucky today and thank the Lord that He is watching over me. I work for a small Oil and Gas company and we laid off about 70 of the 80 employees that we have. I have been working here for about 5 months and am extremely fortunate that I will continue to be employed for now. God is great to those who follow Him.
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Old 01-05-2015, 12:42 PM   #616
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I got lucky today and thank the Lord that He is watching over me. I work for a small Oil and Gas company and we laid off about 70 of the 80 employees that we have. I have been working here for about 5 months and am extremely fortunate that I will continue to be employed for now. God is great to those who follow Him.
Holy cow, that a bunch! If you dont mind, where do you work?
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Old 01-05-2015, 12:50 PM   #617
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Oilfield hands are gonna start stacking those unemployment lines pretty quickly real soon... It's a sad deal, but pretty normal for the oil patch... It's gonna get bad here real quick now that the calendar has flipped over to '15. Heck I put 35 gallons of gas in my truck this morning in Tomball for $0.679/gallon!!! (used my Kroger discount) Heck before the discount it was only $1.679! That won't keep drillers working long when their break even is $70+/bbl... Buckle up boys, it's gonna be a rough ride for the next few months I'm afraid.
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Old 01-05-2015, 12:51 PM   #618
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He was continuing the sarcasm from Dru
Roger that, just a touchy subject for me..
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Old 01-05-2015, 12:53 PM   #619
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Oil dips below $50, but rebounds. Drilling permits have dropped exponentially. It will take a little time for the lag to catch up.

http://money.cnn.com/2015/01/05/inve...-50/index.html
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Old 01-05-2015, 12:54 PM   #620
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I can tell you permits are almost nonexistent in Texas and gone in nm
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Old 01-05-2015, 12:56 PM   #621
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I help run our family machine shop and 90% of our work is oil and gas related. Unfortunately, most of our eggs are in one basket with schlumberger/ smith sevices for the most part. When things get like this, they usually bring everything back in house. We are already slowing down dramatically and the orders have stopped coming in over the last few weeks. I remember 08-09 and im hopin this doesnt last long....
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Old 01-05-2015, 01:06 PM   #622
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I help run our family machine shop and 90% of our work is oil and gas related. Unfortunately, most of our eggs are in one basket with schlumberger/ smith sevices for the most part. When things get like this, they usually bring everything back in house. We are already slowing down dramatically and the orders have stopped coming in over the last few weeks. I remember 08-09 and im hopin this doesnt last long....
I know exactly how you feel. Im expecting my side gig to slow down here pretty quick. I still have stuff coming in but who knows for how long. I did just get a couple of hot POs this morning ( one due Thurs! ) so we'll see. Will probably see less work overall but more Hot jobs.
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Old 01-05-2015, 01:34 PM   #623
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You may have said it before, but what company do you work for Dru?

Sorry to hear of the layoffs and reduction in hours.

Being new to O&G (sales/service), I'm naturally a little nervous about where things are headed, although we've been assured our company is in good shape to weather a downturn (and actually are still in a hiring mode). Until I hear otherwise, I'm going to keep selling and saving (and praying!)
Michael,
I work for a brokerage firm that contracts with Antero. We deal only in West Virginia natural gas. I thought we were immune from this down turn.
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Old 01-05-2015, 02:13 PM   #624
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Might be nice to have a thread for folks to post up about any potential jobs they know of. I've heard rumors of a couple places that might be looking for part time sales on commission basis. One company already filled a spot, but from what I understand the guy is doing it part time as a second job. If things like that pop up, it might not be a bad idea to spread the word around.
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Old 01-05-2015, 02:16 PM   #625
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NEW YORK (CNNMoney) -

It's quite the sobering Monday on Wall Street as many traders and investors return from their holiday hiatus.

The Dow plunged 350 points in afternoon trading as stock markets around the world fell sharply.

What's going on? The main culprits of market jitters these days are falling oil prices and the souring global economy. Crude oil now trades at about $50 and even dipped briefly below that level on Monday -- another psychological threshold for the market.

Experts now predict oil could go as low as $40 or even $30 a barrel. While that's great for U.S. consumers, who are enjoying gas prices of $2 or less not seen since the worst of the Great Recession, there comes a point when sustained low prices begin to really hurt energy company stocks and jobs in the U.S. and other countries around the world.

Today's biggest stock losers are almost all energy drillers -- Denbury Resources, Noble Energy and Anadarko Petroleum.

Warning signs: But the bigger picture is that stocks are overdue for a correction -- when the market falls 10% or more. There was a close call in early October when U.S. markets dipped, but they never quite got to an official correction.

Goldman Sachs put out a warning note Monday, cautioning that professional investors may be "unduly bullish."

The bank's Sentiment Indicator is at 100 -- the highest possible level. Historically, that hasn't been good. When the indicator gets that high, it's usually followed by a decline in stocks in the following six weeks.
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Old 01-05-2015, 02:37 PM   #626
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We have the added cost of drilling a hole here in NM of haul away going against us. I would imagine that would add 10% to the cost of drilling the hole?
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Old 01-05-2015, 02:53 PM   #627
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Halcon just pulled most of our project. Went from running 5 rigs in Brazos/Burleson Counties to just 1 rig.
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Old 01-05-2015, 04:23 PM   #628
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Prayers are all I have. Hope you guys are okay when this turns around. There has to be a happy medium somewhere.
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Old 01-05-2015, 04:28 PM   #629
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Halcon just pulled most of our project. Went from running 5 rigs in Brazos/Burleson Counties to just 1 rig.
Prayers up buddy, got to get through the briar patch , before we can get back to that green pasture. Good Lord ain't gonna give us more than we can handle, but he can make it difficult.
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Old 01-05-2015, 04:36 PM   #630
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We already took our 10% pay cuts and now only have 3 more wells planned for our rig then see where it's at after that so I see it laying down. Our company still has over 40 rigs working so I'll still get rotated through them to get a few days of work here and there though.
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Old 01-05-2015, 05:28 PM   #631
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definitely looks like some rigs are gonna stack down south soon...

Quote:
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...
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Old 01-05-2015, 05:35 PM   #632
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Prayers to those effected directly.
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Old 01-05-2015, 05:36 PM   #633
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Prayers up for all in the oil and gas industry.

It's pretty sad to be a victim of our own success.
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Old 01-05-2015, 06:21 PM   #634
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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...
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Old 01-05-2015, 06:30 PM   #635
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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.
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Old 01-05-2015, 06:47 PM   #636
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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.
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Old 01-05-2015, 06:54 PM   #637
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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.
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Old 01-05-2015, 07:01 PM   #638
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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.
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Old 01-05-2015, 07:33 PM   #639
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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.
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Old 01-05-2015, 08:00 PM   #640
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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

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Old 01-05-2015, 08:02 PM   #641
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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
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Old 01-05-2015, 08:07 PM   #642
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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!
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Old 01-05-2015, 08:10 PM   #643
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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.
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Old 01-05-2015, 08:24 PM   #644
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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.
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Old 01-05-2015, 08:26 PM   #645
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Quote:
Originally Posted by JMalin View Post
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!!
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Old 01-05-2015, 08:35 PM   #646
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Just trimming the fat as stated earlier. Some companies will suffer. Seen it before.
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Old 01-05-2015, 10:46 PM   #647
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Originally Posted by RAZORBACK View Post
I think Chesapeake will be in a pretty good spot ... but some of the bigger players will come out of this stronger than ever.
A couple of my major oil and gas customers in Canada are about to go on shopping sprees buying up their competitors.

The most frequently quoted breakeven number I'm hearing is $70/bbl.
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Old 01-05-2015, 11:05 PM   #648
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I hate that it is coming to this. My grandpa was a rough neck in the 40's and 50's. He lived in Electra. Met my grandma at a diner in Snyder. He ended up down here,minus a few fingers,at DOW,where he retired,because of a huge slow down in the oil patch.

Good luck fellas!!
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Old 01-05-2015, 11:42 PM   #649
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Quote:
Look at what civeo's (CVEO) stock has done in the past few weeks
dang that's interesting.... I was wondering who was behind a lot of these man camps.

But in my opinion a "man camp" in these remote south Texas towns seems more appropriate for a small group of investors or a single person/company to handle and not a publicly traded corporation. A man camp in Iraq or Afghanistan I could understand
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Old 01-06-2015, 07:39 AM   #650
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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!!
I think he was still in high school Keith.
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