Hey Oilfield Guys!!

[gingib]

Anything to be read in the tea leaves with the CEO's of Transocean, Apache and Kinder Morgan all quitting/stepping down?

HMMMM! Very intriguing

[Legdog]

Anything to be read in the tea leaves with the CEO's of Transocean, Apache and Kinder Morgan all quitting/stepping down?

I just read an article that stated the Transocean CEO lost his $14 million job due to $50 - $55 oil. Basically they had to drastically cut their dividend due to unforeseen circumstances. I guess he's a victim of a bad crystal ball.

[Black Ice]

I just read an article that stated the Transocean CEO lost his $14 million job due to $50 - $55 oil. Basically they had to drastically cut their dividend due to unforeseen circumstances. I guess he's a victim of a bad crystal ball.

I'm sure he will be fine for at least a month.

[BowOnly81]

Yea I don't think too many people expected that 14 million barrel increase this week. I read most were looking forward to the trending decrease of around 3 million. Maybe we will see that $30/bbl. God, I hope not! My wife was telling me the other day that she read that we only have 10 years left of oil and we'll be scraping the bottom of the bucket. I find that very hard to believe. But they are already forecasting that Saudi will need to increase their production even more to compensate our lack of supply. Yall read that?

[gingib]

I guess he's a victim of a bad crystal ball.

Unfortunately, this is partly due to the high markup/prices that the oilfield likes to charge/make.

People may not like to hear that, but it's the truth. If everyone would make 25% less and companies charge 25% less many more people would still have jobs....and best of all: they would still be making dang good money

[gingib]

Anything to be read in the tea leaves with the CEO's of Transocean, Apache and Kinder Morgan all quitting/stepping down?

I was told Steve Kean will be taking his place at KM....he is getting promoted I guess

[tex4k]

Unfortunately, this is partly due to the high markup/prices that the oilfield likes to charge/make.

People may not like to hear that, but it's the truth. If everyone would make 25% less and companies charge 25% less many more people would still have jobs....and best of all: they would still be making dang good money

Is this from real life experience or just an assumption based on hearsay?
From the breakdowns I've seen "big oil" operates on pretty much the same margins as avg. companies, all those zeros that the media throws out there to get everyone so worked up are made by producing volume, not markups.

[JTeLarkin08]

Unfortunately, this is partly due to the high markup/prices that the oilfield likes to charge/make.



People may not like to hear that, but it's the truth. If everyone would make 25% less and companies charge 25% less many more people would still have jobs....and best of all: they would still be making dang good money

Really?? I'm lucky if I make 25% on a part. So I'm pretty sure making 25% less would mean my shop wouldn't exist.

[bphillips]

Unfortunately, this is partly due to the high markup/prices that the oilfield likes to charge/make.

People may not like to hear that, but it's the truth. If everyone would make 25% less and companies charge 25% less many more people would still have jobs....and best of all: they would still be making dang good money

The thing is most guys won't be gone from home without that "markup". I've said for years my pay isn't for the work I do it's for the time I spend away from home. If I had to take that big of a cut I would just put my family in an area where I could work in a refinery or gas plant and be home everyday.

Neither me or my wife want a 25-50% cut in my income though

[Artos]

I caught the tail end of a c-span or c-span2 deal after work yesterday...it appeared to be what I perceived to be a small congressional energy committee meeting discussing the Oil / NG issues, priorities & interested directions they would like to see long & short term objectives to go.

If anyone can find it & get me a link, I would like to see the whole thing...my search skillz must be lacking. They stated the oil prices were expected to be low but are trying to 'bring' directives to grow the NG industry to encourage drilling to that side??

On a side note, They had a rep of the govn. of Utah or Idaho I think (last name of Leggett ) that handed it to a chap of the concerned scientists group in regards to carbon foot printing. Another gal followed up suit saying unless China follows suit with coal, we are a drop in the bucket, so to speak. I thought it was great.

[JW]

Not me, I hope it's $40 a barrel next week.

You just can't stop can you? You are just giddy with the fact so many are out of work. Speaks volumes of your character. I'm done with Ya.

[JW]

Today

[haas0311]

Still unemployed but may have an offshore gig lined up.

Tgrifley, $40 barrel of oil is great if you were back in the day. Now oil has become harder and harder to come buy. Why don't you just come to the realization that oil is finite and that your $40 bbl oil is a fart in the wind. Oil is only going to go up as demand surges and supply dwindles. Get your head out of the clouds and try being supportive of us guys who bring you your plastics, fuel, clothes, lubricants, etc..

[schmalzy]

Still unemployed but may have an offshore gig lined up.

Tgrifley, $40 barrel of oil is great if you were back in the day. Now oil has become harder and harder to come buy. Why don't you just come to the realization that oil is finite and that your $40 bbl oil is a fart in the wind. Oil is only going to go up as demand surges and supply dwindles. Get your head out of the clouds and try being supportive of us guys who bring you your plastics, fuel, clothes, lubricants, etc..

Glad to hear you may have something lined up! Been at the house for 2 weeks and its wearing on me. Have a few irons in the fire and praying one will come through this week.

[Fightinaggies]

http://eaglefordtexas.com/news/id/146846/us-shale-leader-eog-resources-confidence-no-match-for-cheap-oil/