Originally posted by wtx223
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Hey Oilfield Guys!!
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Originally posted by curtintex View PostIt had everything to do with it....That's the point. Oil prices are not driven by American spending or monetary policy, however American spending and monetary policy are affected by oil prices. In this state, more than the oil industry and consumer spending at the pump is affected by oil prices.
I buy about 50,000 gallons of diesel every month. While I'd love to pay less for it, I don't want to pay $2/gal for diesel for only 5,000 gallons due to the fact that there is no development on which to burn 50,000 gal of diesel. My guys saving money on gas doesn't really help them if they don't need gas to drive to work, because they don't have a job.
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Originally posted by RLB View PostNope I'm still here.....and just to say I told you so. One of the largest operators in the EF laid down one of our rigs.....dang!! And the they wrote us a $9m check for the out in the contract.....and oh wait, the best part.....I still get my commission !!!
You mean that ironclad contract was bought out? Thought that rig would be working for years and there was nothing the operators could do about it. I'm sure the hands on that rig are happy for you and your commission
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Originally posted by RLB View PostNope I'm still here.....and just to say I told you so. One of the largest operators in the EF laid down one of our rigs.....dang!! And the they wrote us a $9m check for the out in the contract.....and oh wait, the best part.....I still get my commission !!!
Everyone knows you can buy out of them. Yes you get your commission but many others will be laid off just like we said.
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Originally posted by bphillips View PostThought they would keep drilling with no way out
Everyone knows you can buy out of them. Yes you get your commission but many others will be laid off just like we said.
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Originally posted by RLB View PostNo....and apparently a lot of people can't read. I said it would not hurt us that bad because WE have contracts on these rigs. What a couple of the TBH braintrust did was, NOT read and comprehend what I wrote and "assumed" what I wrote. I never once said that anyone would be FORCED to keep drilling, what I said was they are locked into a LT contract on these rigs and they either keep them running or PAY US THE OUT.
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Originally posted by RLB View PostI understand that, and I wasn't trying to be objective....but theres a HUGE difference between then and now....technology, technolgy, technolgy. We have a very good understanding on where it is and have it down to a science on how to get it....and that only improves daily. We have rigs "SIGNED" on guaranteed contracts and new builds scheduled out for many many years. Speculation will never let the crash happen again....when it does turn it will be a slowing down and not a hault.
That was then.....Originally posted by RLB View PostRig Contracts dont go out the window!! Those are iron clad guaranteed deals.....at $24-$28K per day for 24-48 monthsOriginally posted by RLB View PostRig and Directional sales for a "BIG 3"....we have 474 rigs currently drilling in the US and Canada....could have another 100 if we had them. The demand is SO HIGH right now, these contracts are 100% unilateral in our favor. Operators will sell their soul to the devil for them.....can't drill without a rig, no rig no money....When every 100 feet of lateral is worth $1M in production and average laterals are 3,500-5,500'...you do the math. We've settled several broken contract disputes and was awarded 100%, plus attorneys fee and any damages incurred....
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Originally posted by RiverRat1 View PostI don't understand the debate here. Is anyone dumb enough to not understand that if oil tanks more lots of people will be affected? Ask any realtor who sells ranches if they're already feeling the lower cost of oil. It will cost everyone more than what they save at the pump.
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Originally posted by RiverRat1 View PostI don't understand the debate here. Is anyone dumb enough to not understand that if oil tanks more lots of people will be affected? Ask any realtor who sells ranches if they're already feeling the lower cost of oil. It will cost everyone more than what they save at the pump.
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