Originally posted by JeffJ
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Hey Oilfield Guys!!
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Originally posted by wow View PostWent through the busts in the 70s and 80s you could go up in the derrick and all you could see were drilling rigs. in 85 you lucky to see one. Most banks were the biggest car lots around.
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Originally posted by Burnadell View Post...if they will listen, but sadly, most will blow a lot of their good fortune to have what used to be known as luxuries, only to realize at age 56 that there is no way for them to retire with no retirement savings!
What were one luxury items for you people seem to be necessities nowadays.
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Originally posted by RLB View PostI understand that, and I wasn't trying to be objective....but theres a HUGE difference between then and now....technology, technolgy, technolgy. We have a very good understanding on where it is and have it down to a science on how to get it....and that only improves daily. We have rigs "SIGNED" on guaranteed contracts and new builds scheduled out for many many years. Speculation will never let the crash happen again....when it does turn it will be a slowing down and not a hault.
That was then.....
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Originally posted by doppelganger View PostI work for one of the largest oil/gas companies in the US. We are already going through reorganizing, aka early retirements and job reduction. It's already started for some producers/sellers. It'll trickle down soon. The company is trying to head it off at the pass, but reduction in job force is the first step, if prices keep falling then layoffs will be next.
I see some of those hands have done been bucked off that horse and looking for a new ride..
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Hey Oilfield Guys!!
Originally posted by kgrutzmacher View PostI'm just looking for the right time to buy back in. The oil industry has always been cyclical - you just have to understand that and prepare...
Pigs get fat, hogs get slaughtered, just don't be a hog.
Believe me, I'm just waiting to start dumping more into company stock. Odd, I saw an investor analyst and he was predicting my company to have a 20% gain this year. Not sure about that, as we are extended in some cost overruns on some multibillion dollar projects overseas.
Hopefully those projects start producing this year and next. People have no clue how much r/d and exploration o/g companies invest, but all you hear are the greenies complaining about oil.Last edited by doppelganger; 11-29-2014, 12:47 PM.
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Hey Oilfield Guys!!
Where did RLB go? West Texas crude enjoyed a 10% drop on Friday and I need Mr. Big Bucks to tell me how that's going to impact my mailbox money. Hoping his iron clad contracts mean that my royalties go unchanged.
More importantly, considering that I am in the mortgage business, I need him to tell me how long the soundness of his rig contracts will stall an increase in foreclosures.
Even more importantly, I want him to post again so Burnadell can say something else.Last edited by Porterhouse; 11-29-2014, 08:42 PM.
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Originally posted by Porterhouse View PostWhere did RLB go? West Texas crude enjoyed a 10% drop on Friday and I need Mr. Big Bucks to tell me how that's going to impact my mailbox money. Hoping his iron clad contracts mean that my royalties go unchanged.
More importantly, considering that I am in the mortgage business, I need him to tell me how long the soundness of his rig contracts will stall an increase in foreclosures.
Even more importantly, I want him to post again so Burnadell can say something else.
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