Hey Oilfield Guys!!

[DFWfirefighter]

i hate it that alot of guys have lost their jobs but isnt that always a possiblity in the oil field?

[bphillips]

i hate it that alot of guys have lost their jobs but isnt that always a possiblity in the oil field?

Yep but the layoffs still catch everyone off guard and someone who hasn't been through it doesn't know to save like they should in lots of cases.

[denowt]

You don't realize that some guys who's rigs get stacked have been making over $1500 per day for the last several years.. I know many with 200-300k just sitting in bank accounts. Then it's smart for him to finance to minimize what he pays out of that before his job comes back. Not everyone out there makes $20/hr.



I didn't start this thread to warn all guys just most. I could lose my job tomorrow and not worry about buying a new house but I know many who can lose theirs and be worried about food next week so every situation is different.

Very true and that very well could be the case.
However it seems unlikely to me that someone that makes $1500/day would save up $200k, then wait until he was laid off to purchase a new $15k ranger.
Either way, I didn't intend to start an argument.
I just thought this was an example of the stereotype that some oilfield workers fall into.
But you're right, none of us know the guys situation, so we'll never know why he waited until after he was laid off to purchase a big toy.

[bphillips]

Very true and that very well could be the case.
However it seems unlikely to me that someone that makes $1500/day would save up $200k, then wait until he was laid off to purchase a new $15k ranger.
Either way, I didn't intend to start an argument.
I just thought this was an example of the stereotype that some oilfield workers fall into.
But you're right, none of us know the guys situation, so we'll never know why he waited until after he was laid off to purchase a big toy.

I agree just stated that because it wouldn't stop me if I had been planning on it. Now is he actually one of those guys? Highly unlikely

And you're right about him probably fitting that stereotype like many others I have seen trying to get out from under new trucks

[Ol Thumper]

No dog in the fight but I sure wish that oil could find a happy medium. Not that I have extra money or drive a lot but paying a little more for fuel to help brothers all around would be ok with me. As Forset Gump said, "I'm not a smart man" but the oil business shutting downs not good for anybody!! It will bite us all on the rear sooner or later I'm afraid.

Side note, IMO the guy buying the new trucks, cars and Polaris might no be looking to far ahead or saved his money wisely and is going to enjoy his down time but it's helping keep the ball of commerce rolling and somebody might get a great deal one day soon on them, never know.. Don't judge a book by it's cover, read it first..

[schmalzy]

Hercules Offshore is laying off 30% or roughly 670.

I was one of em. It is tough but the people at that company really are top notch. I got my start in the oilfield there and they gave me the opportunity to work hard and better myself and take on new challenges. Learned a lot from many guys who had been in the industry for quite some time. Was treated with respect and dignity when laid off and given options for the next step. Met some friends for life there. Keep turning to the right.

[haas0311]

I went to NAPE yesterday and handed out about 6-7 resumes and then emailed an additional 29 resumes between last night and today. I already have my first rejection... It is quite possibly a record of 12 hours from the time I sent my resume to the time I was declined..

[bowhuntertex]

Was just told today that we laid off all of our hourly employees. Our field salary guys will now be field hands when we get work. Our company can sustain up to two years with where we are staff wise right now without much work.


I feel bad for the salary guys but I am glad I still have a job. My boss assured me today that I am not going anywhere unless you they force deep cuts. Good thing is our board of trustees and upper management want to keep the management team intact as long as they can so when it pucks back up they are not going to have to rebuild from the too down. Still worried but feel better about my job for now.

[haas0311]

Was just told today that we laid off all of our hourly employees. Our field salary guys will now be field hands when we get work. Our company can sustain up to two years with where we are staff wise right now without much work.


I feel bad for the salary guys but I am glad I still have a job. My boss assured me today that I am not going anywhere unless you they force deep cuts. Good thing is our board of trustees and upper management want to keep the management team intact as long as they can so when it pucks back up they are not going to have to rebuild from the too down. Still worried but feel better about my job for now.

Thats some good news!

[ladrones]

Sounds like the production companies are wanting the drillers to go back to 2008 day rates.

[100%TtId]

I went to NAPE yesterday and handed out about 6-7 resumes and then emailed an additional 29 resumes between last night and today. I already have my first rejection... It is quite possibly a record of 12 hours from the time I sent my resume to the time I was declined..

You probably got turned down by HR.
HR is generally useless.
Find the hiring manager and talk to him or her.

[jooger17]

No dog in the fight but I sure wish that oil could find a happy medium. Not that I have extra money or drive a lot but paying a little more for fuel to help brothers all around would be ok with me. As Forset Gump said, "I'm not a smart man" but the oil business shutting downs not good for anybody!! It will bite us all on the rear sooner or later I'm afraid.

Side note, IMO the guy buying the new trucks, cars and Polaris might no be looking to far ahead or saved his money wisely and is going to enjoy his down time but it's helping keep the ball of commerce rolling and somebody might get a great deal one day soon on them, never know.. Don't judge a book by it's cover, read it first..

Exactly my point! Last time the slow down hit, I took a 6 month vacation. I was ****** that it happened after deer season was over. Could very we'll be that the guy works 300+ days a year like Bobby and I and couldn't justify buying one until now. Now that he has a little time, he wants to enjoy it. I could go buy a Polaris now if I wanted to and pay cash. No way in hell I'd turn loose of $15k at one time when I could turn loose of $400/ month instead. We work hard and watch our bank accounts grow. The last thing I was to do is see it get smaller $15k at a time.

[d_e_smith]

I'd get the local bank to finance it regardless, less headache.

[tkuehn5410]

I re-hired an employee who's worked in the landscape industry for several years before the oil field offered him a job making twice what he was making with me doing irrigation.

[denowt]

I would put some, or most, of that money into a CD, then turn around and take a loan out using the CD as collateral.
Your money still stays in your account and you get a lower interest rate because it's much easier for the bank to repo your CD vs repo'ing your big toy.

I still don't understand making a big non-essential purchase right after losing your job, but I guess it's just an oilfield thing and I'll leave it at that.