Hey Oilfield Guys!!

[DNew]

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

Our 401K got cut first also....taken 3 paycuts. Down 30% at the moment. But still working.

Who do ya'll work for?

[JW]

Ugh! I guess I'm Goin to Minnesota for about 4 months.

[coldgas]

Ugh! I guess I'm Goin to Minnesota for about 4 months.

At least its almost spring! Walleye fishing should be picking up aye!

[JW]

At least its almost spring! Walleye fishing should be picking up aye!

Won't have time. 6/7 days a week.

[RiverRat1]

So with no place to put reserves will prices start to drop again? Or is this already baked into the prices?

I'm thinking/guessing they try to make one more panic sell-off in the next 1-2 months.

[willwork04]

So with no place to put reserves will prices start to drop again? Or is this already baked into the prices?

I'm thinking/guessing they try to make one more panic sell-off in the next 1-2 months.

I think we are going to see prices drop again. This is going to be ugly for at least 1-2 years I think.

[KR-oldmexico]

I think we are going to see prices drop again. This is going to be ugly for at least 1-2 years I think.

Please tell us why??

[Boomerang]

.x

[BIG IRON]

Please tell us why??

He has read jmarlin's posts and figured it sounded legit

[Artos]

...any educated guesses on a timeline?? Was discussing this with my boss today.

I'm way new on this stuff, but 1-2yrs sounds like a ballpark if I had to guess on a very uneducated side...it certainly doesn't look like opec is going to change course anytime soon??

[JW]

...any educated guesses on a timeline?? Was discussing this with my boss today.



I'm way new on this stuff, but 1-2yrs sounds like a ballpark if I had to guess on a very uneducated side...it certainly doesn't look like opec is going to change course anytime soon??

Agreed. I'm hoping it keeps inching it's way up. It would be nice to see $65 a barrel by Mays end but I'm not betting on it.

[bowhuntertex]

...any educated guesses on a timeline?? Was discussing this with my boss today.

I'm way new on this stuff, but 1-2yrs sounds like a ballpark if I had to guess on a very uneducated side...it certainly doesn't look like opec is going to change course anytime soon??

That's my guess as well. It just doesn't look good for the oil field.

[Breezy]

Getting real ugly down here. My dad's good friend was laid off today. One of my best friend is barely hanging on. Will have to lay off 10 guys now. Prayers sent.

[JW]

Getting real ugly down here. My dad's good friend was laid off today. One of my best friend is barely hanging on. Will have to lay off 10 guys now. Prayers sent.

Man that sux! Hopefully it'll pick back up. There are a pile of us laid of right now and many of my friends have been cut up to 40% in pay. But at least it beats unemployment. Sorry for your guys. And I know how bad it sux to be the one to have to do it. Always made my stomach churn.

[RiverRat1]

...any educated guesses on a timeline?? Was discussing this with my boss today.

I'm way new on this stuff, but 1-2yrs sounds like a ballpark if I had to guess on a very uneducated side...it certainly doesn't look like opec is going to change course anytime soon??

In the past when oil tanked from it's peak, how long did it take to recover? How low did it drop?