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Hey Oilfield Guys!!

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    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.

    #2
    Haha. So true

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      #3
      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.

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        #4
        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.

        Comment


          #5
          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, 09:19 PM.

          Comment


            #6
            It's like riding a roller coaster...ups and downs

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              #7
              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!

              Comment


                #8
                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

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                  #9
                  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.

                  Comment


                    #10
                    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.

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                      #11
                      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.

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                        #12
                        Hey Oilfield Guys!!

                        Good advice for anyone!

                        Comment


                          #13
                          Hey Oilfield Guys!!

                          I love my job on the production side...

                          Comment


                            #14
                            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.

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                              #15
                              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; 09-17-2014, 10:00 PM.

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