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

[Hix]

Turning to the right in Oklahoma still. We cut our rig fleet in half this year though.


Sent from my iPhone using Tapatalk Pro

[NF HUNTER]

Slow but steady in oilfield cutting tools.

[bowfishin fool]

My south Texas shop is still hanging in there. But our WTx shop is is needing hands and very busy.

Same here, and looking like 2020 will be a big year.
All the medium and big companies have plans for lots of hole!






Sent from my iPhone using Tapatalk

[Codie]

Basic - Cisco laid off all employees this morning (300+ folks)

[txoutdoorsman24]

Same here, and looking like 2020 will be a big year.
All the medium and big companies have plans for lots of hole!






Sent from my iPhone using Tapatalk

That’s what I’ve been hearing. Some of the majors have plans and budgets much larger than 2019s was. I hope it’s true

[txoutdoorsman24]

Basic - Cisco laid off all employees this morning (300+ folks)

That’s crazy stuff right there. Bout as bad as the Halliburton yard closing in Oklahoma two weeks ago. 800plus laid off

[JTRichardson]

Glad to hear most of y’all made it and glad it’s looking positive for some in 2020.

Right now we are running a skeleton crew type shift in the shop and the sales team has been cut down to just me and my manager for the U.S.

My customers are all holding until Q2 before committing to increasing fleets or running something other than extremely lean inventory levels.

Halliburton/Weatherford/Baker are causing mass panic to upper management on our end with their forecasts being $0 in planned purchasing for Q1

[Lungbuster13]

....it’s really not nearly as bad as some of the posts here represent....yes, a couple of Majors have pumped the brakes, and even shut down a yard or two (Halliburton)....but man....WTI is knocking at $60 a barrel for the first time in fang near 8 months and anybody who has ever pulled slips or brought a well online, whether it be on the drilling, or production side, knows that every Tom, ****, and Harry that does a sub par job of managing money slows down in the 4th quarter....especially in election years....it’s not near as gloomy as some may act....just depends on who you’re with and where you’re at

[JTeLarkin08]

We will be hit hard by the basic layoff.. Luckily with my wife starting a new job we will be ok with some budgeting.. I am not sure what my future holds but I am ok with something new.. These last 5 years have taken years off my life and have caused some stress between me and my dad.. Good luck everyone..

[MAP]

I heard Halliburton is getting out of the chemical side, multi chem to be exact. Starting to cut people over there, especially the ones close to retirement

[JTRichardson]

....it’s really not nearly as bad as some of the posts here represent....yes, a couple of Majors have pumped the brakes, and even shut down a yard or two (Halliburton)....but man....WTI is knocking at $60 a barrel for the first time in fang near 8 months and anybody who has ever pulled slips or brought a well online, whether it be on the drilling, or production side, knows that every Tom, ****, and Harry that does a sub par job of managing money slows down in the 4th quarter....especially in election years....it’s not near as gloomy as some may act....just depends on who you’re with and where you’re at

I agree with you 100%

Thing is - I’ve been at the place I work for six years now. Made it through the last downturn (one of two employees in the US) and shortly after the down turn they brought in a bunch of corporate numbers type management that know next to nothing about the industry. They only pay attention to backlog and YoY growth, so they panic during times like these and cut heads to deliver the EBITDA number they promised to corporate.

I’ve been saying - in every single Monday morning sales meeting - that this is not as bad as 2015-2016, but they aren’t buying it.

Gonna be a tough couple of months working for these folks as they won’t see their top line revenue where they want it until Q3 rolls around and we are able to deliver stuff ordered in Q2.

So it’s not all doom and gloom for sure, but it still ain’t gonna be any fun for a while.

[bboswell]

Glad to hear most of y’all made it and glad it’s looking positive for some in 2020.

Right now we are running a skeleton crew type shift in the shop and the sales team has been cut down to just me and my manager for the U.S.

My customers are all holding until Q2 before committing to increasing fleets or running something other than extremely lean inventory levels.

Halliburton/Weatherford/Baker are causing mass panic to upper management on our end with their forecasts being $0 in planned purchasing for Q1

Guess it depends on the market but Halliburton is still cutting me PO’s and forecasting more.

[bboswell]

I think the ones that are busy in 2020 will be very busy while the ones that are slow will be very slow. On the motor side it will only take 1 or 2 failures to decide which side you are on.

[JTRichardson]

Guess it depends on the market but Halliburton is still cutting me PO’s and forecasting more.

Halliburton is still cutting us PO’s in the US - the team in Edmonton is the one getting the $0 forecast - that’s where we have historically served their Middle East needs.

I also agree with your next comment on the motor side, got a feeling the herd is about to get a little smaller judging only on what I’m hearing and seeing financially from them.

[jooger17]

Fortunately things are pretty steady where I’m at for the time being. The operator we were working for is buying out his partners so there’s a hiatus there until they close but we have another operator to work for. I had the option to go right back to work or take off the last 2 weeks of October and the first two weeks of November. I bet y’all know which option I chose!