Hey Oilfield Guys!!

[txoutdoorsman24]

fify

Very Nice

[bphillips]

The existing rigs are more efficient than those that have been stacked and are drilling in the best areas for production. I wouldn't expect production to fall that much. supply issues aren't going away this year.

Negative. Many that were running for around the same price or a little more and producing better wells in a better area I know for a fact are laid down while many others are in areas that produce at most equal but take 4 times longer to drill. The junkier cheaper rigs will out last the better ones just because of price and with those rigs comes worse hands and more problems. Most of it though depends on the company they're drilling for and their financial situation as to whether or not they'll stay working, not how efficient it is. I live it everyday and thats how it goes in Texas for the most part.

Of course I'm sure with your knowledge of the industry you already knew that.

[jooger17]

I didn't realize your anecdotal experience mirrored that of the entire drilling industry. I stand corrected

Well let's see... I've drilled wells in all corners of Texas, New Mexico, Colorado, Wyoming, Louisiana, Arkansas, Oklahoma, Pennsylvania, West Virginia, Maryland, North Dakota, the Gulf of Mexico, and on Sahklin Island in Russia, been through 3 of these slow down periods and there is a common dominator every time. Middle of the pack rigs and rigs with cheaper day rates keep drilling unless there's a special circumstance like this particular rig and Pioneer having hedged oil prices.

"We're drilling these wells too fast, they can't get rid of us." HA! Rig moves are expensive, the fastest drilling rigs won't go in the first cut, but they're always gone in the 2nd. I could give you example after example of "flag ship" rigs getting cut while middle of the pack rigs stayed drilling. In 07 Nabors had 39 rigs running in Colorado. By spring of 09 they had 2. Guess which 2 survived... M13 and M15. For the style of rig they where, they where worn out piles of garbage. Encanna used that as a bargin chip and got their day rates lowered. They're still drilling now but have been absorbed by the Wyoming district.

I don't claim to know it all, but I know enough about the industry to see through your propagated BS in every post you've made on this thread since the beginning. Everything I've posted above is fact... So indeed sir, you do stand corrected.

[JTRichardson]

Well let's see... I've drilled wells in all corners of Texas, New Mexico, Colorado, Wyoming, Louisiana, Arkansas, Oklahoma, Pennsylvania, West Virginia, Maryland, North Dakota, the Gulf of Mexico, and on Sahklin Island in Russia, been through 3 of these slow down periods and there is a common dominator every time. Middle of the pack rigs and rigs with cheaper day rates keep drilling unless there's a special circumstance like this particular rig and Pioneer having hedged oil prices.

"We're drilling these wells too fast, they can't get rid of us." HA! Rig moves are expensive, the fastest drilling rigs won't go in the first cut, but they're always gone in the 2nd. I could give you example after example of "flag ship" rigs getting cut while middle of the pack rigs stayed drilling. In 07 Nabors had 39 rigs running in Colorado. By spring of 09 they had 2. Guess which 2 survived... M13 and M15. For the style of rig they where, they where worn out piles of garbage. Encanna used that as a bargin chip and got their day rates lowered. They're still drilling now but have been absorbed by the Wyoming district.

I don't claim to know it all, but I know enough about the industry to see through your propagated BS in every post you've made on this thread since the beginning. Everything I've posted above is fact... So indeed sir, you do stand corrected.

I feel like you and I would get along well, Jooger. In a non creepy way you sound exactly like my father, who is a TCP specialist for the big red devil. He seems to fall in line with your line of thinking and he's been doing this for 37 years now.

[ANSCAG]

Well let's see... I've drilled wells in all corners of Texas, New Mexico, Colorado, Wyoming, Louisiana, Arkansas, Oklahoma, Pennsylvania, West Virginia, Maryland, North Dakota, the Gulf of Mexico, and on Sahklin Island in Russia, been through 3 of these slow down periods and there is a common dominator every time. Middle of the pack rigs and rigs with cheaper day rates keep drilling unless there's a special circumstance like this particular rig and Pioneer having hedged oil prices.

"We're drilling these wells too fast, they can't get rid of us." HA! Rig moves are expensive, the fastest drilling rigs won't go in the first cut, but they're always gone in the 2nd. I could give you example after example of "flag ship" rigs getting cut while middle of the pack rigs stayed drilling. In 07 Nabors had 39 rigs running in Colorado. By spring of 09 they had 2. Guess which 2 survived... M13 and M15. For the style of rig they where, they where worn out piles of garbage. Encanna used that as a bargin chip and got their day rates lowered. They're still drilling now but have been absorbed by the Wyoming district.

I don't claim to know it all, but I know enough about the industry to see through your propagated BS in every post you've made on this thread since the beginning. Everything I've posted above is fact... So indeed sir, you do stand corrected.

I hope you dropped the mic after hitting return. That was awesome.

I've been on rigs all over Texas, New Mexico, Colorado, Louisiana, Oklahoma, and Wyoming myself, and I have seen first hand the difference in "top of the line" Flex Rigs and old school beaters that no matter what, keep on right. I'll admit this is my first down turn in the industry, and I'm weary of what the future holds. But I'm thankful every day I get in my work truck and drive to my office or a location, and I'm praying this doesn't last too long. I've already seen too many friends and coworkers in the industry getting laid off.

I wish I would've taken a picture last week when I saw all the Yellow Cabs lined up in downtown Houston. I hate knowing what they were there for.

[jooger17]

I feel like you and I would get along well, Jooger. In a non creepy way you sound exactly like my father, who is a TCP specialist for the big red devil. He seems to fall in line with your line of thinking and he's been doing this for 37 years now.

Your father sounds like one hell of a guy What's his name? The oil field ain't that big, we've likely crossed paths at some point.

[JTRichardson]

Your father sounds like one hell of a guy What's his name? The oil field ain't that big, we've likely crossed paths at some point.

Charlie Mack Richardson!

goes by Cmack most of the time

[jooger17]

Charlie Mack Richardson!

goes by Cmack most of the time

The name does sound familiar but I'm not seeing a face with it. Big Red keeping him busy?

[JTRichardson]

The name does sound familiar but I'm not seeing a face with it. Big Red keeping him busy?

Yes. He's actually been working more the past few months than he has the past few years.

He's expecting the slow down to hit a little later in their department as opposed to the rest.

He's been fortunate so far with no pay cuts or anything, but he's not foolish, even he is saving every penny lately and has advised me (being that im a pup in the oilfield) to do the same

[jooger17]

Yes. He's actually been working more the past few months than he has the past few years.

He's expecting the slow down to hit a little later in their department as opposed to the rest.

He's been fortunate so far with no pay cuts or anything, but he's not foolish, even he is saving every penny lately and has advised me (being that im a pup in the oilfield) to do the same

I always made more $ during slow periods than in the booms. I'd work over every time someone was needed. I wanted to make sure those pushers and supers knew my name when they where discussing who got to stay. They've got us hooked up like sled dogs too. They've cut everyone extra and had a couple quit due to extreme pay cuts. I saw it coming and started squirreling away all the $ I could and put momma back to work. 100% of her check is going into a safety fund. It's inevitable that I'll get laid off, likely in the next round of cuts. I've only been with this company 6 months and they're down to only good hands. When everyone is doing a good job, the guys to go are the new ones. I understand it and accept it.

[BrianL]

There is no "best of the best" for drilling contractors anymore. For some reason unknown to me, they keep a guy around simply due to time with the company. You put me with a 20 year veteran directional driller and I'll smoke him every single day simply because I still have the drive and something to prove. After you've been around 20 years you're going through the motions. I see it every single day.

.

From the outside, I guess the "kind of fast" and steady works the same for employees and rigs. You may want to slow down some. Unusual business model, but guess it works for them.

[bphillips]

From the outside, I guess the "kind of fast" and steady works the same for employees and rigs. You may want to slow down some. Unusual business model, but guess it works for them.

Thats the weird part. The hands have to be fast and top notch or get replaced in these times UNLESS they have buddies or lots of time with the company. Makes no sense to me.

[d_e_smith]

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'd look for that storage problem to get worked on, seeing an urgent demand for FERC attorneys....So at least the paper trail is starting.

[willwork04]

Charlie Mack Richardson!

goes by Cmack most of the time

Does he work offshore & like to wear a rolex on the rig?

[kyle1974]

Hey Oilfield Guys!!

The existing rigs are more efficient than those that have been stacked and are drilling in the best areas for production. I wouldn't expect production to fall that much. supply issues aren't going away this year.

You're right. The 8-10 thousand "extra" wells that were drilled last year by the thousand extra rigs that were in service, and are now laid down will have no effect. In addition, apparently there's no such thing as a decline curve for an oil well.

Thanks for clearing that up for me.