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Old 08-19-2015, 02:51 PM   #2551
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Thanks for the informed reply. Its funny how all who have responded say it takes decades of work, or extreme luck to make 6 fig salaries, working ungodly hours, yet previously in the thread folks were sharing about 250-400k salaries were common for 20-30 something year olds who are out buying all sorts of toys...kinda conflicting information; all i know is i will keep my indoor a/c office desk job @ 40hrs a week thanks, work a little on the side and enjoy life with family.
Those people exist and they fall under both lucky and ungodly hrs but they are not common.

My job is one of those that can do it but it takes lots of experience, luck, and hrs to get there.. Young guys welding can do it also but they put in tons of time to do it. I'm sure there are others as there are always exeptions but just because someone knows a guy like that doesn't mean it's like that for everyone.

Last edited by bphillips; 08-19-2015 at 02:54 PM..
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Old 08-19-2015, 02:53 PM   #2552
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Except they use gas powered welder a and power hammers, so they're outta the question!
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Old 08-19-2015, 04:13 PM   #2553
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The slide continues. Down below $41 dollars today. Think it's around $40.52 now. Hoping it can't go much lower and starts going back up soon!
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Old 08-19-2015, 04:42 PM   #2554
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Thanks for the informed reply. Its funny how all who have responded say it takes decades of work, or extreme luck to make 6 fig salaries, working ungodly hours, yet previously in the thread folks were sharing about 250-400k salaries were common for 20-30 something year olds who are out buying all sorts of toys...kinda conflicting information; all i know is i will keep my indoor a/c office desk job @ 40hrs a week thanks, work a little on the side and enjoy life with family.


Congrats and good luck brother! I hope your desk job is forever lasting for you and your family!!
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Old 08-19-2015, 09:18 PM   #2555
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Thanks for the informed reply. Its funny how all who have responded say it takes decades of work, or extreme luck to make 6 fig salaries, working ungodly hours, yet previously in the thread folks were sharing about 250-400k salaries were common for 20-30 something year olds who are out buying all sorts of toys...kinda conflicting information; all i know is i will keep my indoor a/c office desk job @ 40hrs a week thanks, work a little on the side and enjoy life with family.
I'm 31 and in the vast majority it does take a lot of time. When I broke out I was told that if I busted my *** I'd be drilling in 10 years. My driller was at the time, the youngest anyone could remember with that particular company. He was 26. I set a goal for myself to be drilling by the time I was 25. 19 months later I had a drilling job. As far as the mega salaries go, I turned down a directional job for 10 years. If I'd taken that job then, I'd be retired by now.

It seems like a lot of you guys come here to poke sticks at us guys that are willing to bust their ***, spend time away from home, and work in an environment that wants to kill you every day. And you cap it off with, "I'll stick to my blah blah blah job." If that's your reason for coming here, you're in the wrong spot.

No one here is asking for sympathy. This thread was started months ago warning this decline was coming. Now that it's happened it's been a very resourceful tool for guys looking for a job, outlooks on increasing or decreasing prices etc.
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Old 08-19-2015, 09:30 PM   #2556
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I'm 31 and in the vast majority it does take a lot of time. When I broke out I was told that if I busted my *** I'd be drilling in 10 years. My driller was at the time, the youngest anyone could remember with that particular company. He was 26. I set a goal for myself to be drilling by the time I was 25. 19 months later I had a drilling job. As far as the mega salaries go, I turned down a directional job for 10 years. If I'd taken that job then, I'd be retired by now.

It seems like a lot of you guys come here to poke sticks at us guys that are willing to bust their ***, spend time away from home, and work in an environment that wants to kill you every day. And you cap it off with, "I'll stick to my blah blah blah job." If that's your reason for coming here, you're in the wrong spot.

No one here is asking for sympathy. This thread was started months ago warning this decline was coming. Now that it's happened it's been a very resourceful tool for guys looking for a job, outlooks on increasing or decreasing prices etc.
A couple of y'all do a better job of explaining stuff than I can to people "with out getting thrown in the cooler" who don't know crap about the oil field. Again. I wonder why they open this thread... Makes me have to go take another blood pressure pill, even on my days off. Lol.
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Old 08-19-2015, 09:36 PM   #2557
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Another example of the patch, I got called out to the Land of Enchantment by my customer, it is a good call and could mean more business. However my youngest has had a surgery on the books for months now for tomorrow morning. Tough sheet, wife gets to deal with it all now and my customer will never know. I chose this deal and freak'n love it, but then again I only work 2 days a year and make $1,000,000s. Ha ha ha
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Old 08-19-2015, 09:50 PM   #2558
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Originally Posted by jooger17 View Post
I'm 31 and in the vast majority it does take a lot of time. When I broke out I was told that if I busted my *** I'd be drilling in 10 years. My driller was at the time, the youngest anyone could remember with that particular company. He was 26. I set a goal for myself to be drilling by the time I was 25. 19 months later I had a drilling job. As far as the mega salaries go, I turned down a directional job for 10 years. If I'd taken that job then, I'd be retired by now.

It seems like a lot of you guys come here to poke sticks at us guys that are willing to bust their ***, spend time away from home, and work in an environment that wants to kill you every day. And you cap it off with, "I'll stick to my blah blah blah job." If that's your reason for coming here, you're in the wrong spot.

No one here is asking for sympathy. This thread was started months ago warning this decline was coming. Now that it's happened it's been a very resourceful tool for guys looking for a job, outlooks on increasing or decreasing prices etc.
For the sake of asking, with kid(s) in the picture now, would you jump at that if it was heavily concentrated within an hour of the house?
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Old 08-19-2015, 09:52 PM   #2559
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For the sake of asking, with kid(s) in the picture now, would you jump at that if it was heavily concentrated within an hour of the house?
I'm not sure exactly what you're asking. Are you asking if I'd jump at the chance of a directional job now?
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Old 08-19-2015, 10:03 PM   #2560
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Asking if you'd prefer it over going off to work to be able to spend more time around the kids?
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Old 08-19-2015, 10:34 PM   #2561
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Asking if you'd prefer it over going off to work to be able to spend more time around the kids?
I was different than most. Most guys take the DD job when they first get the offer, then when the wife and kids come along they start exploring other options. I never even considered it until Steph got pregnant. That's when I took it. It was the fastest way I knew of the get my family set up. Obviously I hadn't planned on 6 months later having to live off of my savings, but at least I was able to put enough back to survive... For now lol
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Old 08-19-2015, 11:57 PM   #2562
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Originally Posted by jooger17 View Post
I'm 31 and in the vast majority it does take a lot of time. When I broke out I was told that if I busted my *** I'd be drilling in 10 years. My driller was at the time, the youngest anyone could remember with that particular company. He was 26. I set a goal for myself to be drilling by the time I was 25. 19 months later I had a drilling job. As far as the mega salaries go, I turned down a directional job for 10 years. If I'd taken that job then, I'd be retired by now.

It seems like a lot of you guys come here to poke sticks at us guys that are willing to bust their ***, spend time away from home, and work in an environment that wants to kill you every day. And you cap it off with, "I'll stick to my blah blah blah job." If that's your reason for coming here, you're in the wrong spot.

No one here is asking for sympathy. This thread was started months ago warning this decline was coming. Now that it's happened it's been a very resourceful tool for guys looking for a job, outlooks on increasing or decreasing prices etc.

Thanks for making it ABUNDANTLY CLEAR that you did not read my first post. If you are wise you will go back and read all my posts to see why i came here, and why i am done. Please do your part to promote truth to your counterparts out by knowing the whole story.

making an extra 20-30k per year is not worth the extra time and effort (physical and time away from family) that you guys put in. I was taught by my dad that it is far better to make money by using your brain than your body, as your body will wear out faster. I was simply inquiring to verify if the work was as hard as the word on the street led it to appear.

I want you to know that i honor your hard work and effort to get ahead and put money in savings. By no means am i saying your work is less valuable or honorable. I'm simply saying its not for me, and the bit of extra cash is not worth the time away; hence another reason why my wife is a stay at home mom. The extra 40k per year would be great, but not at the expense of my kids being raised by strangers in a daycare system. Time with their mommy is invaluable.

Last edited by topshot; 08-20-2015 at 12:04 AM.. Reason: additional comments
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Old 08-20-2015, 12:07 AM   #2563
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I was different than most. Most guys take the DD job when they first get the offer, then when the wife and kids come along they start exploring other options. I never even considered it until Steph got pregnant. That's when I took it. It was the fastest way I knew of the get my family set up. Obviously I hadn't planned on 6 months later having to live off of my savings, but at least I was able to put enough back to survive... For now lol
I hear ya. Best of luck to you getting back out there.
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Old 08-20-2015, 06:38 AM   #2564
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Thanks for making it ABUNDANTLY CLEAR that you did not read my first post. If you are wise you will go back and read all my posts to see why i came here, and why i am done. Please do your part to promote truth to your counterparts out by knowing the whole story.

making an extra 20-30k per year is not worth the extra time and effort (physical and time away from family) that you guys put in. I was taught by my dad that it is far better to make money by using your brain than your body, as your body will wear out faster. I was simply inquiring to verify if the work was as hard as the word on the street led it to appear.

I want you to know that i honor your hard work and effort to get ahead and put money in savings. By no means am i saying your work is less valuable or honorable. I'm simply saying its not for me, and the bit of extra cash is not worth the time away; hence another reason why my wife is a stay at home mom. The extra 40k per year would be great, but not at the expense of my kids being raised by strangers in a daycare system. Time with their mommy is invaluable.
You are definitely correct the time and effort would not be worth an extra 20-30k.

Yes the work is THAT hard starting out but only until certain positions. A smart man that works hard will be away from those positions before his body is wore out though.

Glad you have found what works best for your family. This is what works best for us and for the same reasons my wife stays home also.
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Old 08-21-2015, 12:45 AM   #2565
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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
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Old 08-21-2015, 04:17 AM   #2566
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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

Last edited by bphillips; 08-21-2015 at 05:04 AM..
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Old 08-21-2015, 06:23 AM   #2567
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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!
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Old 08-21-2015, 07:05 AM   #2568
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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.
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Old 08-21-2015, 07:17 AM   #2569
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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.
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Old 08-21-2015, 07:49 AM   #2570
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Dang, this thread went downhill fast.
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Old 08-21-2015, 07:58 AM   #2571
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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
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Old 08-21-2015, 07:59 AM   #2572
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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.
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Old 08-21-2015, 08:01 AM   #2573
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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
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Old 08-21-2015, 08:08 AM   #2574
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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.
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Old 08-21-2015, 08:19 AM   #2575
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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.
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Old 08-21-2015, 08:26 AM   #2576
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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.
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Old 08-21-2015, 08:57 AM   #2577
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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
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Old 08-21-2015, 09:02 AM   #2578
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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.
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Old 08-21-2015, 12:44 PM   #2579
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I have been seeing more and more companies that you would have never seen >75. Plated trucks from Ohio, ND, Penn etc.
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Old 08-21-2015, 12:53 PM   #2580
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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.
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Old 08-21-2015, 12:56 PM   #2581
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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.
Yea I'm not going into anything else either. A 9-5 isn't for me and I'm pretty good at what I do. If it comes to it I'll just take an extended vacation until it picks back up. That's what I save for


Only time I would do anything else is if I was sitting out a bust and was just bored at home everyday
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Old 08-21-2015, 01:02 PM   #2582
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I feel for you guys in this. Salary level and benefits aside, I wouldn't be trying/wanting to change professions if this is what I loved to do for a living. Just like the previous times, those who ride this out will end up benefiting in the end.
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Old 08-21-2015, 01:15 PM   #2583
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I can tell you're frustrated and I totally understand why. But, please don't put others down because of it. O&G isn't the only occupation where a person can make a good living. There is many more occupations that pay just as much, sometimes more, than O&G. I know because I'm working my way into one as we speak. Besides that, some people are happy with what they do for reasons besides a salary. Doesn't mean they're any less of a person than someone who works this industry. I, for one, don't want, "the life" in your words. I'm not interested in it. Doesn't mean I'm a miserable person, with a miserable life, working a dead end job. That's a broad blanket statement. Doesn't mean I hate people that work in the O&G industry either. I'm sure you dislike it when someone makes a blanket statement aimed at ones living, "the life" right?
Steve is about as good a guy as they come and I know he doesn't mean people who aren't in O&G are any less of a person.. Some guys here are struggling and the frustration will show and show more and worse when certain people keep coming here to poke at them
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Old 08-21-2015, 01:20 PM   #2584
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Steve is about as good a guy as they come and I know he doesn't mean people who aren't in O&G are any less of a person.. Some guys here are struggling and the frustration will show and show more and worse when certain people keep coming here to poke at them
I understand that for sure. Just feels like a blanket statement in my opinion. Maybe others will see it differently. Hopefully he can clarify who he is talking about when he gets back on. I've read his post for years now. It's really easy to tell the kind of man he is from those previous posts. Never seen him post comments like that. I could tell frustration had a lot to do with it. I wasn't trying to call him a bad person at all, hopefully he doesn't read my comments as such. Past historical evidence, even though I've never met him, tells an entirely different story. Just wanted to provide an outsider perspective on the comments. No hard feelings from me, hopefully no hard feelings from him either.
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Old 08-21-2015, 01:24 PM   #2585
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I understand that for sure. Just feels like a blanket statement in my opinion. Maybe others will see it differently. Hopefully he can clarify who he is talking about when he gets back on. I've read his post for years now. It's really easy to tell the kind of man he is from those previous posts. Never seen him post comments like that. I could tell frustration had a lot to do with it. I wasn't trying to call him a bad person at all, hopefully he doesn't read my comments as such. Past historical evidence, even though I've never met him, tells an entirely different story. Just wanted to provide an outsider perspective on the comments. No hard feelings from me, hopefully no hard feelings from him either.
Yea I could tell he was pretty mad when I read it. Your comment won't be taken bad I don't think
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Old 08-21-2015, 01:27 PM   #2586
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Yea I could tell he was pretty mad when I read it. Your comment won't be taken bad I don't think
That's good to hear. I was second guessing myself a little. All you guys keep your heads up! Glass half full! Things are never as bad as they seem and things are never as good as they seem either. There's just absolutely no way things can remain like they are forever. We all rely on the industry entirely too much for it to stay this low.
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Old 08-21-2015, 01:32 PM   #2587
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Let's not forget the poor mineral owners. They are taking a huge hit. How would you like to be selling your stuff on the cheap?
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Old 08-21-2015, 01:37 PM   #2588
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Let's not forget the poor mineral owners. They are taking a huge hit. How would you like to be selling your stuff on the cheap?
Don't give it away.
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Old 08-21-2015, 01:56 PM   #2589
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On the bright side of a dark thread, I took the plunge two months ago and accepted an offer from one of our competitors. I was hesitant at first with this being a terrible time to switch jobs, but boy I'm glad I did. My old boss was a huge alcoholic and my new boss is the polar opposite. He and I are already in talks of starting a bible study. To top it all off, July was the 2nd best bonus month I've had in my 4 years in the oilfield!
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Old 08-21-2015, 01:59 PM   #2590
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Jsapp how can you say what I said is not accurate? I know many DD's that made 1300+ a day contract and work 25-28 days a month
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Old 08-21-2015, 02:03 PM   #2591
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Bphillips you are right obviously not many make that I was just saying it for affect that some do make it and in my mind it was worth being away from my family...
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Old 08-21-2015, 03:14 PM   #2592
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I tried forever to get into the patch. Everyone wanted someone with experience. I finally gave up and started a hotshot company, made good money after a few month but I had to spend a lot of time on the road, had three truck's running and wasn't too hard to make 1000-1500 a day. Had a son on the way so needed to be home so I sold my contracts and started a small logging business. Easy $1000 a day there. Made cash and put money back then the spring rains set in and now I'm staying at home with my son while the wife works. She's a business banker, makes $87,000 a year salary plus quarterly bonuses(last was $3000). She works 8:30 to 4 Monday through Friday. Oilfield is a good gig but it isn't the only place to make a good living
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Old 08-21-2015, 04:25 PM   #2593
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Every single OG worker I have ever known takes it so personal when you talk about how majority aka most aka 51% or more don't know how to manage their money

Remeber a big flux of these people got in the field for the big money when it was hot. THere is a reason they did.....easy money and cant make that money many other places with the hours worked

So dont take it personal and remember you chose this path

WIth that being said God BLess Texas and I hope oil goes up soon.
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Old 08-21-2015, 04:31 PM   #2594
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Originally Posted by gingib View Post
Every single OG worker I have ever known takes it so personal when you talk about how majority aka most aka 51% or more don't know how to manage their money



Remeber a big flux of these people got in the field for the big money when it was hot. THere is a reason they did.....easy money and cant make that money many other places with the hours worked



So dont take it personal and remember you chose this path



WIth that being said God BLess Texas and I hope oil goes up soon.

Same can be said for every other field. Not all of us exactly "chose" it.
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Old 08-23-2015, 03:48 PM   #2595
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Report: Most Canada Oil Sands Crude Produced At A Loss - See more at: http://www.rigzone.com/news/oil_gas/....Hml25Gw5.dpuf
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Old 08-24-2015, 07:44 AM   #2596
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low oil prices are expected to continue through much of this year and next, but as companies shelve plans for new drilling, they are setting the stage for a significant rebound in prices in the years ahead.
There are plenty of reasons to think that oil could stay “lower for longer,” as both OPEC and non-OPEC production remains elevated in the face of low oil prices, and global economic uncertainties (see: China) raise questions about demand.


Low oil prices will have to force an adjustment in production, as high-cost producers put off projects. But it will happen slowly as existing wells will keep on pumping. Some oil companies are starting to see oil prices dip below their operating costs, particularly in Canada where oil sands have higher production costs and sell at a discount to WTI.
A new report from TD Securities Inc. finds that some Canadian companies are losing money even on existing projects. “Every single SAGD/CSS player [is] bleeding cash on every barrel of bitumen produced at the current WTI” prices, TD Securities concluded. SAGD is steam-assisted gravity drainage, a process to produce heavy oil sands.
But they will keep on pumping because shutting down can be expensive and restarting later is also costly and not easy to do. So even though they will lose money on each barrel, they have little choice but to keep going and hope for better times.
New Drilling
If existing projects are facing financial pressure, drilling new projects are wholly out of reach for much of the industry. As companies are forced to retrench, cut costs down to the bone, and hope to survive the downturn, new oil fields won’t get drilled, especially not the multibillion dollar projects, such as deepwater drilling.
For example, the U.S. federal government held an auction on August 19 for offshore oil fields in the Gulf of Mexico, and the results were not good. Only five companies submitted bids and only 33 leases were sold, the worst showing in three decades for the Western Gulf of Mexico. BHP Billiton Petroleum was the largest bidder, spending $16.3 million on 26 tracts.
“While disappointing, the results of this lease sale are not surprising and accurately reflect the current environment of low commodity prices and increasing regulatory changes and uncertainty. The entire oil and natural gas industry, particularly the offshore segment, is understandably being very cautious about spending money,” Randall Luthi, the President of the National Ocean Industries Association, said in a statement.
A July report from Wood Mackenzie estimated that 46 large oil and gas projects, that would require around $200 billion in spending to develop, have been indefinitely postponed. Those projects amount to 20 billion barrels of oil equivalent in reserves. Canada could be hardest hit, with projects totaling 5.6 billion barrels of reserves seeing delays. The list of deferred or cancelled projects will no doubt continue to grow as oil prices remain depressed.
These big-time oil fields that aren’t being drilled – offshore Gulf of Mexico, offshore West Africa, and Canadian oil sands, for example – take several years to develop. Most weren’t expected to come online this year or next, but several years in the future at the earliest.
This year and next will likely remain “wastelands of low oilfield cash flows, spending and general activity levels,” analysts at Raymond James concluded in a new report. But after that, oil prices could strongly rebound. “While it’s still far away, 2017 appears to be setting up for a significant recovery year,” Raymond James wrote, predicting oil could rise above $70 per barrel by then.
Beyond that, the market could tighten even further. Mature oil fields suffer from natural decline, at a rough average of around 5 percent per year. That means that new fields must come online just to replace old ones. But outside of North American shale, the world wasn’t achieving a whole lot of gains in oil production even before prices crashed last year. Most new projects were merely keeping up with decline.
But now, with so many of these large-scale deepwater and oil sands projects delayed or cancelled, that means a significant stream of oil will not come online in the early part of the next decade. And with global demand continuing to grow year after year, a price spike could hit the market by the end of the decade when the shortage of new oil really starts to be felt.

This article was originally published on Oilprice.com.
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Old 08-24-2015, 07:52 AM   #2597
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XOM is hitting new 4 year lows in pre-market.

And IMO the rebound in oil will not happen slow. They will drop oil until the last person gives up and thinks we have so much oil it will never run low. Then off to the races to the upside.
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Old 08-24-2015, 07:54 AM   #2598
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Originally Posted by RiverRat1 View Post
XOM is hitting new 4 year lows in pre-market.

And IMO the rebound in oil will not happen slow. They will drop oil until the last person gives up and thinks we have so much oil it will never run low. Then off to the races to the upside.
I've kind of shifted my thinking to this also.. Maybe slow to 70ish then up like a rocket
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Old 08-24-2015, 08:30 AM   #2599
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I guess I should use today to start buying XOM and CVX since I still own zero oil stocks.
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Old 08-24-2015, 08:34 AM   #2600
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Next thing you know you'll be investing in Toll Roads and Sonic.
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