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    #76
    Originally posted by RLB View Post
    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....
    Ok I was just curious. Do you not remember '08 and broken contracts though? It happened all over and was busy like it is now.

    Oh and those are baby laterals but I miss them compared to the 7000-8000' laterals I'm on now.

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      #77
      Hey Oilfield Guys!!

      Originally posted by bphillips View Post
      Ok I was just curious. Do you not remember '08 and broken contracts though? It happened all over and was busy like it is now.



      Oh and those are baby laterals but I miss them compared to the 7000-8000' laterals I'm on now.

      I remember 08. At the beginning of every week for about 6/7 in a row my boss would give me a heads up that Friday may be my last day for awhile till we picked up more work. 30-40 a week n that's it. Then the good Ol Lonestar State started breakin out of the funk the rest of the country again cuz hey, it is Texas. Next thing I knew I was begging for a day off!!!


      And that job there was an 8 Billion, yes I said billion, and the Saudi's snatched those contracts in one day. I mean at lunch me and one of my Superintendents where at Academy looking for him a new shotgun. We had 77 more employees on the way to show up the next day. By 2pm the 77 were canceled and we had to lay of 372 people. Those numbers stick im my head to this day. Taught me to be smarter about my toys and living up to the $$$ I was making. Now I live a lifestyle about 50% of what I actually could. Just in case.
      Last edited by JW; 09-18-2014, 03:17 PM.

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        #78
        Originally posted by Ragin' View Post
        I remember 08. At the beginning of every week for about 6/7 in a row my boss would give me a heads up that Friday may be my last day for awhile till we picked up more work. 30-40 a week n that's it. Then the good Ol Lonestar State started breakin out of the funk the rest of the country again cuz hey, it is Texas. Next thing I knew I was begging for a day off!!!


        And that job there was an 8 Billion, yes I said billion, and the Saudi's snatched those contracts in one day. I mean at lunch me and one of my Superintendents where at Academy looking for him a new shotgun. We had 77 more employees on the way to show up the next day. By 2pm the 77 were canceled and we had to lay of 372 people. Those numbers stick im my head to this day. Taught me to be smarter about my toys and living up to the $$$ I was making. Now I live a lifestyle about 50% of what I actually could. Just in case.
        Heck I'm that way now 30+ day wells suck for a DD

        We finally talked them into giving us a 14/7 rotation and I start my week off next Thursday. That timing may or may not have been on purpose but either way I'll be off opening weekend

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          #79
          Originally posted by bphillips View Post
          Heck I'm that way now 30+ day wells suck for a DD



          We finally talked them into giving us a 14/7 rotation and I start my week off next Thursday. That timing may or may not have been on purpose but either way I'll be off opening weekend

          Lmao!!! What part of the world they got you in now?

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            #80
            Yep, guys coming in for a shutdown can't understand how I can live on 40hrs a week with a few 50-60hr weeks thrown in.

            I just grin and say if you "gotta" have 84hr weeks too live, you aint really living at all

            I'm my own worse enemy but luckily I know how too trick myself into saving

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              #81
              Originally posted by Russ View Post
              I just don' see how any one with a family of 5 can survive on less than 100K family income with current price of living.
              Really??? That is the majority of everyone in this country. It is not a requirement to have a $300K mortgage, $80K in vehicle notes, and thousands more on wasted toys.

              All really depends on wants vs. needs.

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                #82
                Originally posted by RLB View Post
                Rig Contracts dont go out the window!! Those are iron clad guaranteed deals.....at $24-$28K per day for 24-48 months
                I think you are not working in the contract department....every contract has numerous ways to come to an end....I am on year 25 in the oilfield and have been responsible for the execution of contracts around the world....when oil price drops they will stack rigs like cord wood. This is not debatable....hang around long enough....I hope it is good for a long time as I am selling equipment myself now!

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                  #83
                  Originally posted by RLB View Post
                  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.....

                  Quoted for crow pie. 20 years in the patch and believe it or not. Those 1000 well packages and 100 new rig build contracts will go by the way side when the margins get to small. It will be just like turning a tap.

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                    #84
                    Originally posted by Ragin' View Post
                    Lmao!!! What part of the world they got you in now?
                    Sitting on a rig 1 mile outside of Shiner right now

                    Comment


                      #85
                      Hey Oilfield Guys!!

                      Originally posted by TexasBlazer72 View Post
                      Really??? That is the majority of everyone in this country. It is not a requirement to have a $300K mortgage, $80K in vehicle notes, and thousands more on wasted toys.



                      All really depends on wants vs. needs.

                      I gotta agree with em. Simply based on the cost of living. With exception of a custom recurve I really have no toys. But gas, groceries and the kids in there dance, football, baseball, a modest mortgage, other companies even try to recruit me and it's not $170K plus we ain't got nuthin to talk about.

                      And as far as the rest of the people in this country. I came from nothin, nada, zip. No vehicles were bought for me in high school. Hay fields payed for my old junky truck. No money for college or none of that. I just refuse to quit stickin my nose to the grindstone. And I am faaaar from stopping grindin my nose.
                      Last edited by JW; 09-18-2014, 03:58 PM.

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                        #86
                        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.
                        Remember those paid hunts are not cheap either...

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                          #87
                          Originally posted by Tom View Post
                          I think you are not working in the contract department....every contract has numerous ways to come to an end....I am on year 25 in the oilfield and have been responsible for the execution of contracts around the world....when oil price drops they will stack rigs like cord wood. This is not debatable....hang around long enough....I hope it is good for a long time as I am selling equipment myself now!
                          I figured as much from what I have seen them do but I have never seen the actual wording in these contracts. I just know it can be gone quick

                          Comment


                            #88
                            Originally posted by landon pharr View Post
                            Remember those paid hunts are not cheap either...
                            Some things you just gotta do

                            Comment


                              #89
                              Originally posted by Russ View Post
                              I just don' see how any one with a family of 5 can survive on less than 100K family income with current price of living.
                              I couldn't do it now but before my current lifestyle I could find a way to make it work. It wouldn't be anywhere near what I consider comfortable though. Thats why I TRY to keep it in my pants and keep us at a family of 3

                              More to go around that way

                              Comment


                                #90
                                When I started in the oilfield oil was $3.65 a barrel, so I've seen a bust or two. It will happen again and each time the industry loses valuable people knowledge wise that will never come back to it. This makes it tough to crank up again when good times come back.

                                Last bust local banks were giving away with the opening of $1000.00 savings accounts free toasters or a drilling rig. Toasters lasted 2 days, rigs several months.

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