Oilfield guys... y’all hangin in there?

[miket]

Wow, Im out of the loop. Didnt know about Weatherford bankruptcy. I wonder if this accounts for the bump in my customers workload....I am small and dont deal with the big boys.

[bk913]

In the production chemical side, Q3 hasn’t been good to us so far but as far as I know everyone’s job security is alright.

[mzurovec]

Business is booming for us right now hauling CNG to fuel rigs and fracs, especially the turbine-powered electric fracs that could be the way of the future (Halliburton has built one and that's always a sign). Unless there is a dramatic increase in natural gas pricing, we should stay very busy for the foreseeable future if activity stays at least 50% of what it is now.

[Matt_g]

NOV has been laying off a large portion of employees at my location. Always know it’s coming when they start making rounds for drug tests, followed by early retirement offerings, and finally layoffs.

[Radar]

The pump business continues to be busy.

Are you in the artificial lift business?

[Muddy Bud]

Yessir. Im the ETO. Yeah, not many DP floaters let anyone fish anymore. Last rig I worked that I could was the Pathfinder and that was in Nigeria.

I drilled on the DW Pathfinder for five years in the gulf. That was a good rig for its age. We recently just left from Eastern Europe, last well was a new MPD venture for Noble. It worked out great, and is helping to keep us busy. We are in the Shipyard in Brownsville right now getting up to Gulf standards and adding more completion equipment. For these couple wells in the Gulf. But we are allready hearing about a couple more wells to drill in Bulgaria again.

[Scoobyh]

My thoughts as well.

I know a few machine shops that were strictly dealing with Weatherford when they announced their bankruptcy- they are scrambling now trying to diversify.

I feel it will be the same with this if it goes south. Not a good time to be at the mercy of the big 4 right now with the way things appear.

Yep, it happens at every downturn too. Work dries up and everyone is scrambling for new customers. I have had the O&G guys come in the shop, talking a good line about all the money you can make and keep you so busy. Didn’t pan out for a lot of shops throughout ‘15-17.

[M16]

I’m in the extraction business. Extracting as much money I can from the oil companies. Business is booming from the landowner side. Water sales, land farm sales, new pipeline, and seismic activity. Most in the Eagle Ford but other areas as well. Shaping up to be record year.

[SneakyPhil]

Not much changed here. Rig is going off contract with BP for about 6 months, but we go off contract every year for the last quarter. This year we have our 5 year ABS inspection, so we will be in dry dock in Brownsville come January. Have other clients already lined up and waiting for the other 3 months.

What rig you on? My dad works down at the shipyard in Brownsville.

[roughneck266]

I drilled on the DW Pathfinder for five years in the gulf. That was a good rig for its age. We recently just left from Eastern Europe, last well was a new MPD venture for Noble. It worked out great, and is helping to keep us busy. We are in the Shipyard in Brownsville right now getting up to Gulf standards and adding more completion equipment. For these couple wells in the Gulf. But we are allready hearing about a couple more wells to drill in Bulgaria again.

I left her in 2007. Dang right she was good iron. Just like pretty much every other rig they send over to Africa, she left here in good shape, but didn't make it back that way. Can barely get any parts over there, and if they figure out it's a part you really need, you ain't gettin it till you grease a bunch of palms. I miss that ol girl. I learned a ton on there.

[roughneck266]

What rig you on? My dad works down at the shipyard in Brownsville.

I am on the Q5000 with Helix ESG. What does your dad do?

[txoutdoorsman24]

Wow, Im out of the loop. Didnt know about Weatherford bankruptcy. I wonder if this accounts for the bump in my customers workload....I am small and dont deal with the big boys.

Yea that WFT bankruptcy has opened up some business for many other companies. I worked there for for years, 2014-2018, and that was already happening. Can’t go on borrowing and borrowing and not making any profits on top of that. Poorly ran company unfortunately!

Are you in the artificial lift business?

Are you? I’m in artificial lift, gas lift. Now office and manage a shop in Pleasanton for SLB

[johnpaul]

Market is going to soften up big time in Q4 but we are forecasting a strong Q1 in 2020. All of the big E&P companies blew their wads early this year and just don’t have the capital to drill or frac many more wells in Q4. Almost everyone in the Permian is stacking rigs and cutting frac crews. Oh well, more time for hunting and less time for work this winter!

[JTRichardson]

Market is going to soften up big time in Q4 but we are forecasting a strong Q1 in 2020. All of the big E&P companies blew their wads early this year and just don’t have the capital to drill or frac many more wells in Q4. Almost everyone in the Permian is stacking rigs and cutting frac crews. Oh well, more time for hunting and less time for work this winter!

That’s what the thought process has been on my end, which isn’t good on the manufacturing side with a bunch of hourly guys and shop hands that got mouths to feed.

Hoping there is some CAPEX heading in for build up for 2020 soon, that could at least keep our shop running

[Trevor73402]

I work in O&G, but in the refining sector. We are not affected by any of the boom and bust cycles that constantly take place in the “oil field”. Boom or bust, we still have product that has to be refined 24/7 and 365. If I were to ever find myself working in the “oil field” (my entire family did/has from the 30’s all the way till now) I would plan accordingly so that I didn’t fall on any hardships during the down times. When the money is good, everyone lives well beyond their means in this mindset of temporary wealth. Rather than living this way, why not live a lower cost life and save money so that you could live comfortably for 1-2 years if you had to during a down turn? You clearly know the line of work you are in. You clearly know things will at some point go south. Why not plan accordingly so that you are not affected by it? This goes for the individual worker as well as the business/shop owners.