Hey Oilfield Guys!!

[gingib]

wow $70! Who woulda thought so soon!

[kyle1974]

where are you guys seeing $69? that's probably for brent oil, not regular crude. Crude is at $59

[gingib]

where are you guys seeing $69? that's probably for brent oil, not regular crude. Crude is at $59

I didnt look I went off the guy who posted it above. I thought $10-15 was a huge jump in 7 days

[HUNTIN HARD]

because they're about to buy several halliburton companies that are getting spun off from the baker acquisition.

GE is buying companies from Halliburton??

[KR-oldmexico]

I didnt look I went off the guy who posted it above. I thought $10-15 was a huge jump in 7 days

It's still good! Going in the right direction

[kyle1974]

GE is buying companies from Halliburton??

that is the big rumor right now... these things always leak out.

halliburton will have to spin off several companies before the baker merger can make all the anti trust lawyers happy. they have almost officially announced that months ago.

http://marketrealist.com/2015/02/antitrust-approval-of-the-baker-hughes-and-halliburton-merger/

bits, directional, and logging.. maybe cementing (I don't know if GE is buying cementing), but GE has been looking at directional and drill bits for a while.. and they've been talking about actively looking for investments.

http://www.zacks.com/stock/news/170149/halliburton-to-sell-3-businesses-for-baker-hughes-deal

[txoutdoorsman24]

For what positions? Completion fluids? If so I'm in!!

BOP testers, nipple up crew

[miket]

Sure glad its going back up. We have been ok here but my side business has been extremely slow. I need the big boys ( and little guys for that matter-I prefer dealing with the little guys ) to start sending out RFQs for parts so I can get back on track! Been hearing about quite a few machine shops shutting down around here. Over extended themselves trying to get a piece of the pie when it was still hot. Those machine payments still keep coming in after the checks stop.....

[txoutdoorsman24]

BOP testers, nipple up crew

YJOSLLC.com is the website.

http://www.yjosllc.com/Careers.aspx

[Texastaxi]

Things are picking up, in the engineering end ... for us anyway.
We were awarded 3 new projects today.

Since we just laid off a bunch of people, we'll be stretched thin to staff them.
Looks like there'll be some OT in my near future.

[ladrones]

From:

http://www.oilfieldfamilies.com/the-oil-boom-isnt-dead-after-all/

Article by
LYNN DOAN
HOUSTON (Bloomberg) — The oil boom isn’t dead after all.
For the first time in five months, a rig in the Williston basin, where North Dakota’s Bakken shale formation lies, sputtered back to life and started drilling for crude once again. And then one returned to the Permian basin, the nation’s biggest oil play, field services contractor Baker Hughes Inc. said Friday.
Shale explorers including EOG Resources Inc. and Pioneer Natural Resources Co. say they’re preparing to bounce back from the deepest and most prolonged slowdown in U.S. oil drilling on record. The country has lost more than half its rigs since October, casualties of a 49% slide in crude prices during the last half of 2014. Futures rallied above $60/bbl earlier this week, and a sudden return to oil fields would threaten to end this fragile recovery.
“You’re inviting a lot of pent-up supply to come back into the market—not only do you have people drilling again, but you have this fracklog of over 4,000 uncompleted wells,” Harry Tchilinguirian, the head of commodity markets strategy at BNP Paribas SA in London, said by phone. “And then we’re in a situation where the market could easily go back into the mid- $50’s.”
While rigs are returning to some fields, the total U.S. count has continued to decline, losing 11 this week. The drilling slowdown won’t reach a real bottom for about another month, James Williams, president of energy consultant WTRG Economics, said by phone from London, Arkansas.
Nearing End
“This is an indicator that we’re nearing the end of the bust,” he said. “What we’re going to see now are mixed signals from the different basins as we near the bottom of the cycle.”
Carrizo Oil & Gas Inc., Devon Energy Corp. and Chesapeake Energy Corp. all lifted their full-year production outlooks this week. EOG said on Tuesday it plans to increase drilling as soon as crude stabilizes around $65/bbl, while Pioneer has said it is preparing to deploy more rigs as soon as July.
Morgan Stanley said underlying data show drilling is already picking up in some counties within Texas’s Eagle Ford shale formation and the Permian basin of Texas and New Mexico.
“Prices are triggering activity that could undermine the U.S. recovery, especially in 2016,” Morgan Stanley analysts including Adam Longson said in an April 27 research note.
The U.S. rig count may recover to 1,200 to 1,300 should prices rally past $70/bbl, Allen Gilmer, CEO of the Austin-based energy data provider Drillinginfo, said by phone on May 1. The total rose for three straight days in late April, he said.
“The service companies have responded very quickly in regards to dropping prices, and it has become very attractive, especially for companies with hedged positions, to come back right now before those hedges fall off,” Gilmer said. “We’re a few weeks from the bottom now. You’ll start seeing it build up.”

[RiverRat1]

Funny..at $45 everyone screamed we had no place to store oil and it would tank to $30.

Now that oil moves up 50% (45 to over 60) we see writings of how we already hit bottom. LOL

[JW]

Funny..at $45 everyone screamed we had no place to store oil and it would tank to $30.



Now that oil moves up 50% (45 to over 60) we see writings of how we already hit bottom. LOL

Enlighten us Einstein.....

[cosmiccowboy]

I'm hearing that the deep pocket players in south texas are drilling and completing wells and then capping them while costs are way down with suppliers. Drill cheap and wait for prices to come up before producing, like putting money in the bank. I'm not in the business, just heard that from guys that are.

[cosmiccowboy]

My guess is that the US will lift the export ban eventually and US oil will track Brent oil.