Hey Oilfield Guys!!

[RiverRat1]

Yep.. I may not make my money off of it next year but when it comes back strong (and it will) I will be happy with my investments.

Which stocks are you in for the long haul?

[jaime1982]

Yet another cut for us but this time benefits.. No more 401k matching. That makes it sound like theyre expecting a long while before it gets good again.

Dang. That sucks!

[bphillips]

Which stocks are you in for the long haul?

LINE and COP for now and watching a few others. I've got a solid amount ready to invest in the right opportunities.

[bowhuntertex]

Like I said before, its gonna get worse. Kinda glad I got cut loose now while their are jobs around my area to be had still. Gonna hit hard starting Monday.

I really think the turn around is 6-8 months out.

[oktx]

Like I said before, its gonna get worse. Kinda glad I got cut loose now while their are jobs around my area to be had still. Gonna hit hard starting Monday.

I really think the turn around is 6-8 months out.

The thing that scares me is that I've heard longer.

[bphillips]

The thing that scares me is that I've heard longer.

End of the year at a minimum I think

[NeilC]

Every time I go on days off, I come back to find more guys 'no longer with the company'. So far, it's guys who need culling, but that has to change at some point.

[RiverRat1]

LINE and COP for now and watching a few others. I've got a solid amount ready to invest in the right opportunities.

Wow, LINE has a heck of a dividend around 10% yearly.

If O&G stocks tank again I will be buying some LINE for sure. Should probably start buying now for the long term hold and average down if it drops more.

[Redraider]

I'm in on COP and KMI. Good luck guys. Hope it all works out OK for everyone in the oil patch. I'm not in it but lots of buddies are

[bphillips]

Wow, LINE has a heck of a dividend around 10% yearly.

If O&G stocks tank again I will be buying some LINE for sure. Should probably start buying now for the long term hold and average down if it drops more.

Yea its actually 10% now because they dropped it a bit.

[Fightinaggies]

Yet another cut for us but this time benefits.. No more 401k matching. That makes it sound like theyre expecting a long while before it gets good again.

Our 401k matching was the first thing to go, only cut us 10% so far but they have laid off close to 50% of our field staff and close to 70 shop and office guys. They are working the guys that are left really hard with few days off. Cuts came hard fast and early for us but god willing we wont have any more

[Death Dealer]

They haven't cut our benefits yet but I'm sure that's coming. I really don't see a pick up coming before this time next year. Lots of old timers telling me that this feels just like the crash of the 80's all over again. Stacked 3 rigs this week mid move. It's gonna get a lot uglier I believe.

[BowOnly81]

End of the year at a minimum I think

That's what I'm thinking too. And sorry to hear about more cuts. 401k, that's a big one! I don't see my company doing that since we're owned by a much larger company. Time will tell tho.

[Boomerang]

Some wells in North Dakota have a 6 month to 1 year lag on the completion. There is going to be a lag for US production to actually drop, production continues to rise so the manipulation of the futures traders who love volatility has not bottomed yet. It will get worse before it gets better.

[bphillips]

Our 401k matching was the first thing to go, only cut us 10% so far but they have laid off close to 50% of our field staff and close to 70 shop and office guys. They are working the guys that are left really hard with few days off. Cuts came hard fast and early for us but god willing we wont have any more

Yea we just had our second cuts so we are over 22% total now. Those of us left have been getting worked hard also. Until I finished this last well I had only had 6 days off total since Christmas. Now I've been home a week or so and finally feel good and not wanting to quit anymore lol... A few months solid of 12hr days kills the moral of everyone.