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.
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Oilfield guys... y’all hangin in there?
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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.
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Originally posted by roughneck266 View PostYessir. 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.Last edited by Muddy Bud; 08-19-2019, 08:13 PM.
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Originally posted by JTRichardson View PostMy 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.
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Originally posted by roughneck266 View PostNot 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.
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Originally posted by Muddy Bud View PostI 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.
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Originally posted by miket View PostWow, 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.
Originally posted by Radar View PostAre you in the artificial lift business?
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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!
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Originally posted by johnpaul View PostMarket 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!
Hoping there is some CAPEX heading in for build up for 2020 soon, that could at least keep our shop running
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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.
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