It's about to get bad. I would be surprised to see oil in the 40's by February
Announcement
Collapse
No announcement yet.
Hey Oilfield Guys!!
Collapse
X
-
Hey Oilfield Guys!!
Originally posted by txjustin View PostHAL announced 1000 layoffs in the EHO
Let's keep things in perspective here. Halliburton employs 80,000 people. They let 1,000 go. While no contraction is good But in no way would i consider this a major workforce reduction.
In some areas like the Permian rig stacking will let companies who have been operating like a chicken with its head cut off take a deep breath. They can pay attention to cost savings methods and profit maximization versus constant growth and wasted money.
Comment
-
One of my customers works for a big name company. His job is to lay people off. We had a 4 hour conversation on Friday night about $50.00 a barrel after the first and lay offs he was supposed to do 2 weeks ago but someone had a change of heart because of Christmas. It is going to get worse. Better at pump for the consumer but not the rest of the economy.
Comment
-
Not sure how it is going to play out for where I work. They already started on cutting costs by way of spending. They don't want to lay anyone off and that will be the last ditch effort. I also know that we look like we have a lot of work in front of us as there are several big companies that plan on doing a lot or refracs and that there is talk of gas work picking back up. We are a small company that is a leader in what we do and that is very well funded.
Still watching what is going on and looking at other options just in case. If it starts to crash I will jump ship early so I am not having to compete with everyone else looking for a job.
Comment
Comment