Hey Oilfield Guys!!

[d_e_smith]

I'm thinking about $75-80/bbl.

I went to NAPE today in Houston and 90% of the folks I talked to were "slowing down" or "waiting for the prices to come back up.". This is killing me as I am still looking for a job!!! Oil needs to come back up plane and simple and any knucklehead that doesn't think so can beep beep beep beep, lol!!!

Gotta stay all night and do the party scene.

[jooger17]

I was in a Polaris dealership yesterday waiting on a sales guy while he was helping the gentlemen before me look at a side by side. The sales guy mentions to him don't worry I will get you financed ..so I start listening and the customer says yeah my rig was stacked a month ago.. Sales guy says yeah it will come back. I guess I just don't get it.

Just because his rig was stacked doesn't mean he doesn't have any money. H&P has 20 rigs in their yard, they're supposed to stack 30 more in W. Tx by March. The driller here just bought his wife a brand new Impala and himself a new Z71 on his days off. I asked him if he thought that was a good idea not knowing if he's gonna have a job next month, he said, "I can pay every bill I've got for 5 years without a penny coming in."

Smart hand. He saved money while everyone was spending money. The getting financed part for the hand that has a rig stacked out was probably referring to "no current employer". The salesman was right, it'll be back.

[Tbar]

Apach.e......

APA says it is reducing its rig count to 27 by the end of this month from an average of 91 rigs in Q3 2014; the company reduced its fracking crews by ~50% during that period and says it is delaying some well completions until service costs decrease materially.

[denowt]

Just because his rig was stacked doesn't mean he doesn't have any money. H&P has 20 rigs in their yard, they're supposed to stack 30 more in W. Tx by March. The driller here just bought his wife a brand new Impala and himself a new Z71 on his days off. I asked him if he thought that was a good idea not knowing if he's gonna have a job next month, he said, "I can pay every bill I've got for 5 years without a penny coming in."

Smart hand. He saved money while everyone was spending money. The getting financed part for the hand that has a rig stacked out was probably referring to "no current employer". The salesman was right, it'll be back.

If he had money saved up, why is he needing financing to pay for the ATV?

[boh347]

If he had money saved up, why is he needing financing to pay for the ATV?

Maybe he didn't went to over extend hisself and drop 15k on a ranger.

[texansfan]

APC reduced its rig count a few weeks ago.
Wait for it to hit the news.

[denowt]

Maybe he didn't went to over extend hisself and drop 15k on a ranger.

So instead, he over extends himself with a 15k loan plus interest for a ranger.
Either way, he has a 15k bill that he didn't have before and he doesn't have a job.
If dropping 15k on a ranger will over extend his money, then how would a 15k+interest loan not over extend as well?

Maybe I just don't understand the mentality.
I've got about 6 months worth of income in savings built up.
I would like much more, but it's a good start and more than a lot of people have.
If I was to get laid off, quit, or otherwise lose my job, buying toys like a ranger would be the last thing on my mind to purchase.

Maybe I'm just too frugal with my money.

Please explain how adding another payment to his situation makes good financial sense.

[boh347]

Honestly, I could careless what he wants to do with his money. He can buy 5 rangers and I could careless. Oh I didn't know you knew him and he has interest on his payment. There's a lot of zero apr deals out there. Maybe he has another job lined up. There's a bunch of maybes that neither you or I know. But nonetheless congrats to him for buying something he wants, since he told jooger that he had 5 years of overhead covered maybe he knows Alittle morea about his finance than us.

[denowt]

Honestly, I could careless what he wants to do with his money. He can buy 5 rangers and I could careless. Oh I didn't know you knew him and he has interest on his payment. There's a lot of zero apr deals out there. Maybe he has another job lined up. There's a bunch of maybes that neither you or I know. But nonetheless congrats to him for buying something he wants, since he told jooger that he had 5 years of overhead covered maybe he knows Alittle morea about his finance than us.

I really don't care how he spends his money either, no matter how unwisely it may be.
I also don't want to hear about him complaining when he can't feed his family because he blew his money on toys, which by the way, was the original intention of this thread.


Also I don't think the ranger guy and the 5 year plan guy are the same person.

[RLUM]

So instead, he over extends himself with a 15k loan plus interest for a ranger.
Either way, he has a 15k bill that he didn't have before and he doesn't have a job.
If dropping 15k on a ranger will over extend his money, then how would a 15k+interest loan not over extend as well?

Maybe I just don't understand the mentality.
I've got about 6 months worth of income in savings built up.
I would like much more, but it's a good start and more than a lot of people have.
If I was to get laid off, quit, or otherwise lose my job, buying toys like a ranger would be the last thing on my mind to purchase.

Maybe I'm just too frugal with my money.

Please explain how adding another payment to his situation makes good financial sense.

Maybe he has a wife that makes good money too, Like my Grandpa always said having a woman that works is like having 3 rent houses.

[ladrones]

Several of our rigs are stacked right here in the back yard.

[miket]

If he had money saved up, why is he needing financing to pay for the ATV?

I sometimes get financing for things I could pay cash for. Its called liquidity.

[gingib]

I was in a Polaris dealership yesterday waiting on a sales guy while he was helping the gentlemen before me look at a side by side. The sales guy mentions to him don't worry I will get you financed ..so I start listening and the customer says yeah my rig was stacked a month ago.. Sales guy says yeah it will come back. I guess I just don't get it.

And this is why the thread originated was for people like this

No job and you go make a big purchase?

If he had money saved up, why is he needing financing to pay for the ATV?

Thank you

[gingib]

I really don't care how he spends his money either, no matter how unwisely it may be.
I also don't want to hear about him complaining when he can't feed his family because he blew his money on toys, which by the way, was the original intention of this thread.


Also I don't think the ranger guy and the 5 year plan guy are the same person.

A Dave Ramsey kinda guy

AKA someone with common sense and finances

TO EACH THEIR OWN.....BUT MAN THAT ISNT TOO SMART!

[JTRichardson]

i sometimes get financing for things i could pay cash for. Its called liquidity.

boom!