Originally posted by bphillips
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Originally posted by bowhuntertex View PostLike 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.
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Originally posted by bphillips View PostLINE and COP for now and watching a few others. I've got a solid amount ready to invest in the right opportunities.
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.
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Originally posted by RiverRat1 View PostWow, 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.
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Originally posted by bphillips View PostYet 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.
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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.
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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.
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Originally posted by Fightinaggies View PostOur 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
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