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Old 11-30-2014, 06:36 PM   #201
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What is wrong with that???

Nothing as far as I'm concerned. The stadiums are ridiculous in my eyes. Just pointing out a ripple effect.
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Old 11-30-2014, 06:45 PM   #202
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Nope I'm still here.....and just to say I told you so. One of the largest operators in the EF laid down one of our rigs.....dang!! And the they wrote us a $9m check for the out in the contract.....and oh wait, the best part.....I still get my commission !!!
Thought they would keep drilling with no way out


Everyone knows you can buy out of them. Yes you get your commission but many others will be laid off just like we said.
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Old 11-30-2014, 07:07 PM   #203
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Karma.
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Old 11-30-2014, 07:13 PM   #204
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Thought they would keep drilling with no way out


Everyone knows you can buy out of them. Yes you get your commission but many others will be laid off just like we said.
No....and apparently a lot of people can't read. I said it would not hurt us that bad because WE have contracts on these rigs. What a couple of the TBH braintrust did was, NOT read and comprehend what I wrote and "assumed" what I wrote. I never once said that anyone would be FORCED to keep drilling, what I said was they are locked into a LT contract on these rigs and they either keep them running or PAY US THE OUT.
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Old 11-30-2014, 07:29 PM   #205
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No....and apparently a lot of people can't read. I said it would not hurt us that bad because WE have contracts on these rigs. What a couple of the TBH braintrust did was, NOT read and comprehend what I wrote and "assumed" what I wrote. I never once said that anyone would be FORCED to keep drilling, what I said was they are locked into a LT contract on these rigs and they either keep them running or PAY US THE OUT.
Actually in response to me saying the contracts would be gone and rigs would be stacked you let us know those are ironclad deals that are going nowhere. Sorry but if they buy their way out that deal is now gone. Now it hasn't got bad but companies paying their way out of contracts will not keep people working. Yes YOU get a commission and I'm not worried about myself getting paid either but I didn't start this thread over me and you and the select few like us. This was a heads up for the newer guys and lower guys on the totum pole who will be laid off first when those contracts are gone.
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Old 11-30-2014, 08:03 PM   #206
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I understand that, and I wasn't trying to be objective....but theres a HUGE difference between then and now....technology, technolgy, technolgy. We have a very good understanding on where it is and have it down to a science on how to get it....and that only improves daily. We have rigs "SIGNED" on guaranteed contracts and new builds scheduled out for many many years. Speculation will never let the crash happen again....when it does turn it will be a slowing down and not a hault.

That was then.....
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Rig Contracts dont go out the window!! Those are iron clad guaranteed deals.....at $24-$28K per day for 24-48 months
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Rig and Directional sales for a "BIG 3"....we have 474 rigs currently drilling in the US and Canada....could have another 100 if we had them. The demand is SO HIGH right now, these contracts are 100% unilateral in our favor. Operators will sell their soul to the devil for them.....can't drill without a rig, no rig no money....When every 100 feet of lateral is worth $1M in production and average laterals are 3,500-5,500'...you do the math. We've settled several broken contract disputes and was awarded 100%, plus attorneys fee and any damages incurred....
I think this is what you might have said. Iron Clad guaranteed 24-48 months.
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Old 11-30-2014, 08:06 PM   #207
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I don't understand the debate here. Is anyone dumb enough to not understand that if oil tanks more lots of people will be affected? Ask any realtor who sells ranches if they're already feeling the lower cost of oil. It will cost everyone more than what they save at the pump.
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Old 11-30-2014, 08:08 PM   #208
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I don't understand the debate here. Is anyone dumb enough to not understand that if oil tanks more lots of people will be affected? Ask any realtor who sells ranches if they're already feeling the lower cost of oil. It will cost everyone more than what they save at the pump.
To answer your question in short form, yes there are multiple people that don't understand that.
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Old 11-30-2014, 08:11 PM   #209
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Falling prices are exactly what we need in order to fuel real economic growth.
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Old 11-30-2014, 08:12 PM   #210
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I don't understand the debate here. Is anyone dumb enough to not understand that if oil tanks more lots of people will be affected? Ask any realtor who sells ranches if they're already feeling the lower cost of oil. It will cost everyone more than what they save at the pump.
It won't affect me at all. But I do know lots of people will be affected.
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Old 11-30-2014, 08:17 PM   #211
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Falling prices are exactly what we need in order to fuel real economic growth.
Lol that makes no sense.
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Old 11-30-2014, 08:18 PM   #212
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Falling prices are exactly what we need in order to fuel real economic growth.
You sure you don't work in the Media field???

Statements like that are right off NBC or a politicians teleprompter.
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Old 11-30-2014, 08:27 PM   #213
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Falling prices are exactly what we need in order to fuel real economic growth.

And what sectors would see all that growth?
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Old 11-30-2014, 08:36 PM   #214
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Yep all these guys living redneck rich are going to
be crying in there beer. I mean did everyone need a 40k to 60k truck just to drive to work lol!!

Last edited by sharkhunter; 11-30-2014 at 08:38 PM..
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Old 11-30-2014, 08:38 PM   #215
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I think this is what you might have said. Iron Clad guaranteed 24-48 months.
Yes...the contracts are guaranteed.....not the work. The sad part is, every time a rig goes down, 15 guys go home. And the holidays is not a good time to be going home. That's why I work extra hard to try and move rigs and sell directional work.....lot of people depending on us salesmen.
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Old 11-30-2014, 08:40 PM   #216
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Yes...the contracts are guaranteed.....not the work. The sad part is, every time a rig goes down, 15 guys go home. And the holidays is not a good time to be going home. That's why I work extra hard to try and move rigs and sell directional work.....lot of people depending on us salesmen.
The demand has to be there or it doesnt matter how good of a salesman you are. No demand equals equipment being piled up.
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Old 11-30-2014, 08:42 PM   #217
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Yep all these guys living redneck rich are going to
be crying in there beer. I mean did everyone need a 40k to 60k truck just to drive to work lol!!
Hopefully they were smart enough to put a little back. I'm scared to death of this kind of thing, that's why I paid off everything I own except the house and the wife's SUV. I bought the kids college tuition back a few years ago, which probably will still cost an arm and a leg. Dave Ramsey taught me, after the first time I messed up, to live well inside our means and that's what we try to do.
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Old 11-30-2014, 08:43 PM   #218
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The demand has to be there or it doesnt matter how good of a salesman you are. No demand equals equipment being piled up.
You are 100% dead on....I just hope our shareholders and VP's understand that!!!
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Old 11-30-2014, 08:43 PM   #219
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Originally Posted by JMalin View Post
Falling prices are exactly what we need in order to fuel real economic growth.
I'm not in the oil field (not that it matters) but I do understand economics. I was just reading the comments and had to respond. You could learn from these people responding to you countless times.

Last edited by Aggie_bowtech; 11-30-2014 at 08:45 PM..
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Old 11-30-2014, 08:49 PM   #220
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Yes...the contracts are guaranteed.....not the work. The sad part is, every time a rig goes down, 15 guys go home. And the holidays is not a good time to be going home. That's why I work extra hard to try and move rigs and sell directional work.....lot of people depending on us salesmen.
15 sounds like a really low number with all the support a rig needs to run.
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Old 11-30-2014, 08:58 PM   #221
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Hopefully they were smart enough to put a little back. I'm scared to death of this kind of thing, that's why I paid off everything I own except the house and the wife's SUV. I bought the kids college tuition back a few years ago, which probably will still cost an arm and a leg. Dave Ramsey taught me, after the first time I messed up, to live well inside our means and that's what we try to do.
Hey man this is what I was getting at the whole time. I was one of the young dumb fairly new guys in '08 and '09. This thread was intended to be a heads up for the guys in that position now. I live as little debt as possible now but make more so it won't hit me like before but it surely will hit some the same way it did me then.
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Old 11-30-2014, 09:03 PM   #222
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Default Hey Oilfield Guys!!

It has a lot bigger impact than 15 guys on the rig. Lost work for every service that's required to put a hole in the ground. From engineering, casing suppliers, mud, downhole tools, inspection, fuel companies, directional, cementing, completions, fracking, R.O.W. Service, pipeline, meter skid, etc.

1 rig isn't too bad. You start losing 30-40% of the rig fleet and it hits the fan.
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Old 11-30-2014, 09:05 PM   #223
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Originally Posted by JMalin View Post
Falling prices are exactly what we need in order to fuel real economic growth.
Is it hard to breath like that? don't you get tired of bending over?
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Old 11-30-2014, 09:13 PM   #224
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Originally Posted by Aggie_bowtech View Post
I'm not in the oil field (not that it matters) but I do understand economics. I was just reading the comments and had to respond. You could learn from these people responding to you countless times.

You will never get him to learn or understand. He gets on CNN then jumbles up what he reads then comments on every thread just to get a rise. Just a troll.
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Old 11-30-2014, 09:15 PM   #225
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Falling prices are exactly what we need in order to fuel real economic growth.
Please tell me you don't really believe that!
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Old 11-30-2014, 09:19 PM   #226
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Originally Posted by Aggie_bowtech View Post
And the credibility you already lost is totally lost. I'm not in the oil field (not that it matters) but I do understand economics. I was just reading the comments and you really need to experience a downturn to understand it. You could grow up a little and learn from these people responding to you countless times.
Is there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
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Old 11-30-2014, 09:21 PM   #227
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Please tell me you don't really believe that!

Oh, he does.
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Old 11-30-2014, 09:21 PM   #228
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Is there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
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.
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Old 11-30-2014, 09:22 PM   #229
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Falling prices are exactly what we need in order to fuel real economic growth.
I'm just curious what sectors you predict to have real economic growth? And since you work in the O&G sector which sector will be the best bet on employment once the real economic growth happens?
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Old 11-30-2014, 09:27 PM   #230
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Originally Posted by tomcat8910 View Post
Please tell me you don't really believe that!
You bet your *** I believe it. There are some major structural imbalances that the Fed's easy money policies along with Bush/Obama Keynesian stimulus have only masked.
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Old 11-30-2014, 09:27 PM   #231
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Is there no other place where the billions and billions of dollars of capital tied up in producing oil could be put to better use?
You want oil companies to build roads?

Oil companies put billions and billions of their capital into what they do, produce oil. I don't think they are going to diversify into making diapers or anything else.

They will continue to produce oil as long as there is a demand for it. That will continue until they figure out how to run everything in this world on teddy bear kisses and unicorn farts
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Old 11-30-2014, 09:33 PM   #232
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You want oil companies to build roads?

Oil companies put billions and billions of their capital into what they do, produce oil. I don't think they are going to diversify into making diapers or anything else.

They will continue to produce oil as long as there is a demand for it. That will continue until they figure out how to run everything in this world on teddy bear kisses and unicorn farts
Stock holders own oil companies. If oil isn't profitable to produce at those lower prices, the money will go elsewhere.
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Old 11-30-2014, 09:36 PM   #233
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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.
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Old 11-30-2014, 09:40 PM   #234
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Stock holders own oil companies. If oil isn't profitable to produce at those lower prices, the money will go elsewhere.
False. Because that money will not be rolling in like it was. And folks will lose a lot in stocks. Where did you go to college? And where do you work?
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Old 11-30-2014, 09:43 PM   #235
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The demand isn't going to go anywhere for a long time, and if the publically held companies in the US don't produce it with Americans. State owned companies will. And once again, the spike up is always worse than the drop after a glut. No matter what Ron Paul tells you.

I'm out on this with you. We will just agree to disagree. Hope you have a Merry Christmas
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Old 11-30-2014, 09:44 PM   #236
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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.
Well, that sucks. After applying for a year, I have a Dec. 15 start date at a major oil services co. I have wonderful timing.
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Old 11-30-2014, 09:45 PM   #237
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False. Because that money will not be rolling in like it was. And folks will lose a lot in stocks. Where did you go to college? And where do you work?
The investors will find a different place to park their money. I certainly would be if I had a large position in a company that had the majority of their leases in expensive to produce shale formations.

Last edited by JMalin; 11-30-2014 at 09:47 PM..
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Old 11-30-2014, 09:47 PM   #238
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Originally Posted by bphillips View Post
Hey man this is what I was getting at the whole time. I was one of the young dumb fairly new guys in '08 and '09. This thread was intended to be a heads up for the guys in that position now. I live as little debt as possible now but make more so it won't hit me like before but it surely will hit some the same way it did me then.
Well I wasn't arguing that point.....I think I was just on the wrong page of thinking. You are correct, I just hope people are smart with their money.
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Old 11-30-2014, 09:48 PM   #239
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15 sounds like a really low number with all the support a rig needs to run.
We run a 15 man crew on our rigs, but yes there are others there in support roles.
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Old 11-30-2014, 09:49 PM   #240
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Its not if its just a matter of when, used to go by pipe yards east of Houston,stacks and stacks of piping 100 + cars in the lot, then boom places look like a banded maybe 10 - 15 cars. things are slowing just wait until after the election remember when Clinton left..
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Old 11-30-2014, 09:50 PM   #241
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The investors will find a different place to park their money. I certainly would be if I had a large position in a company that had the majority of their leases in expensive to produce shale formations.

And where's all that economic growth going to happen? "Somewhere else"?
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Old 11-30-2014, 10:03 PM   #242
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It won't affect me at all. But I do know lots of people will be affected.
Everyone will feel it. There will be no exceptions. Unless you're retired or have zero ties to any company. If/when all these oil field jobs go away there will be billions less being spent in Texas. And guess who will make up for all the lost tax revenue the State is making?

Do you not understand that thousands of people take money they make in the oilfield and spend it in the big cities "back home"? Even if you somehow have a magical business that isn't affected you will have customers who are who will then be spending less also.
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Old 11-30-2014, 10:04 PM   #243
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And where's all that economic growth going to happen? "Somewhere else"?
Manufacturers, chemical producers, transportation (shipping and distribution), airlines, agriculture, and auto makers all benefit from cheaper oil.
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Old 11-30-2014, 10:07 PM   #244
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Hunt In: Gillespie and Edwards County
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Originally Posted by RiverRat1 View Post
Everyone will feel it. There will be no exceptions. Unless you're retired or have zero ties to any company. If/when all these oil field jobs go away there will be billions less being spent in Texas. And guess who will make up for all the lost tax revenue the State is making?

Do you not understand that thousands of people take money they make in the oilfield and spend it in the big cities "back home"? Even if you somehow have a magical business that isn't affected you will have customers who are who will then be spending less also.
Prices will have to fall more in line with what people not working in the oil and gas industry can afford. Life goes on.

I know a lot of y'all take pride in your oilfield jobs, but there are ways to make a living outside the patch and life doesn't revolve around producing oil. It is important, but so are a great deal of other industries.

Last edited by JMalin; 11-30-2014 at 10:13 PM..
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Old 11-30-2014, 10:08 PM   #245
bphillips
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Join Date: Aug 2010
Location: San Angelo, Tx
Hunt In: Schleicher, Tom Green Co.
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Originally Posted by ladrones View Post
15 sounds like a really low number with all the support a rig needs to run.
We have 22 on location now minus the 10 hands, 1 pusher, 1 safety man, 1 mud engineer on days off.. So 35 would be affected on one rig.
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Old 11-30-2014, 10:12 PM   #246
shunter14
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Join Date: Oct 2009
Location: San Antonio, Tx
Hunt In: Duval, McMullen
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Pretty sad how many folks round here are so excited to see so many fellow bowhunters and texans lose their jobs because they've "had it too good too long". I would never wish that on anyone no matter how good they had it for what they are doing. Yes I am in the oil field and I do have a fall back plan and money set aside but none the less pretty sad some of the comments I've read.
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Old 11-30-2014, 10:16 PM   #247
kyle1974
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Join Date: Dec 2007
Location: The Bluff, America
Hunt In: McMullen / Refugio
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Quote:
Originally Posted by JMalin View Post
Manufacturers, chemical producers, transportation (shipping and distribution), airlines, agriculture, and auto makers all benefit from cheaper oil.

Manufacturers of what? China manufacturers the vast majority of every product sold anywhere.

Transportation? Transporting what? Transporting the items that aren't made here from the port of Houston to the walmart distribution center? Do you realize how many trucks are driving in the oilfield? There could be thousands of jobs lost...

Chemical..... LOL. I guess I'll go invest in WD-40. I'm going to be rich.

I'm sorry Jmalin, but you really have no idea what you're talking about. Out of college for what? 1-2 years. Taking about never owned a house. Give me a call in 15-20 years and see what you know then. Maybe I'm out of touch, but I think a young adult who's just now paying his own bills thinks that an extra $25 less for a tank of gas will turn his economic status in life around, is out of touch with reality.

Last edited by kyle1974; 11-30-2014 at 10:23 PM..
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Old 11-30-2014, 10:17 PM   #248
MassMan
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Join Date: Jan 2013
Location: Cypress
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Quote:
Originally Posted by JMalin View Post
Prices will have to fall more in line with what people not working in the oil and gas industry can afford. Life goes on.

I know a lot of y'all take pride in your oilfield jobs, but there are ways to make a living outside the patch and life doesn't revolve around producing oil. It is important, but so are a great deal of other industries.
It kinda does.
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Old 11-30-2014, 10:22 PM   #249
JMalin
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Join Date: Feb 2014
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Hunt In: Gillespie and Edwards County
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Originally Posted by kyle1974 View Post
Manufacturers of what? China manufacturers the vast majority of every product sold anywhere.

Transportation? Transporting what? Transporting the items that aren't made here Do you realize how many trucks are driving in the oilfield? There could be thousands of jobs lost...

I guess I'll go invest in WD-40. I'm going to be rich.

I'm sorry Jmalin, but you really have no idea what you're talking about. Out of college for what? 1-2 years. Taking about never owned a house. Give me a call in 15-20 years and see what you know then.
Do you have any idea how many trucking jobs are going unfilled right now due to every Joe Blow with a CDL getting an oilfield job?
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Old 11-30-2014, 10:23 PM   #250
JMalin
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It kinda does.
Nah. If I've got my family and my God, I'm good.
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