Hey Oilfield Guys!!

[coldgas]

[doublearrow]

We live about 20 miles south of there and that's what we heard last night was cactus 121. I heard one of the injured is from Lubbock but the news hasn't released much more info.
Me and my son were up there watching. It was a wicked storm for sure. That storm sat in one place for hours and produced tornado after tornado.
Here are some pictures a friend took. We got some video but we wasn't in good position to take pice when the big ones hit.

Wow. Hope the guys end up being ok. I worked on a ranch right on the Canadian river North of Pampa and saw several funnels and a couple small ones touch down over the course of 7 years.. So sparse out there thankfully not much stuff was damage

[coldgas]

Wow. Hope the guys end up being ok. I worked on a ranch right on the Canadian river North of Pampa and saw several funnels and a couple small ones touch down over the course of 7 years.. So sparse out there thankfully not much stuff was damage

They had some damage up there but thankfully it never made it into town. That could've been a bad deal. I'm hearing tonight may be a repeat.

[JTeLarkin08]

what is the PPB lately? has it topped $60 yet?

It was up to like 62$ there for a little while but back down to like 57$ today

[miket]

It was up to like 62$ there for a little while but back down to like 57$ today

Yep. How are yall doing? I havent had a job on my machine in weeks. At work ( my regular job ) it is still slowing down. Had a surprisingly good last quarter but the last 2 months are looking bad. Im getting pretty nervous.

[JTeLarkin08]

Yep. How are yall doing? I havent had a job on my machine in weeks. At work ( my regular job ) it is still slowing down. Had a surprisingly good last quarter but the last 2 months are looking bad. Im getting pretty nervous.

The last 2 months haven't been nearly as bad as March. We are back to about 1/3 of what we normally do. But we might go a week without a order and get a flurry of them all at once. I have quite a few customers that think they are going to pick up next month. I'm hoping we can get back to 1/2 of our normal production b4 me and dad have to take a pay cut. Luckily we haven't had to cut any pay or employees yet. Just not letting guys get overtime.

[coldgas]

Here is a pic of the rig damage and a pic of the Canadian river. The golf course looks like it's under water. The rig didn't look as bad as I had expected.

Photos courtesy of Flap Air Helicopter Service.

[JW]

Here is a pic of the rig damage and a pic of the Canadian river. The golf course looks like it's under water. The rig didn't look as bad as I had expected.

Photos courtesy of Flap Air Helicopter Service.

Holy Moses!!!

[ladrones]

Thanks for the tornado updates guys. Appreciate it!

[coldgas]

I read an article from Time saying that opec is going to keep up production. We are cutting positions at our plant from 8 operators to 5. I'm still hearing of layoffs in our area also. Was sure hoping for a turn around by now but that doesn't look possible for the near future.

[RLB]

Wow....if that's Cactus 121, we just got replaced on that rig for Apache, doing the directional drilling. I think Pro Directional is on it.

[roygarcia54]

I've heard the same KR. I know in the eagleford they have quite a few drilled wells waiting on completion and rigs still punching holes all around. When I say quite a few I say 100 to 1000 not exactly sure so don't quote me word for word this is just oilfield hearsay. But I'm ready for when the completions start back up again hopefully soon. ������������

[txjustin]

I've heard the same KR. I know in the eagleford they have quite a few drilled wells waiting on completion and rigs still punching holes all around. When I say quite a few I say 100 to 1000 not exactly sure so don't quote me word for word this is just oilfield hearsay. But I'm ready for when the completions start back up again hopefully soon. ������������

There are literally THOUSANDS of drilled (capped) wells waiting to be completed in the US right now.

Completions likely won't start up very soon, IMO. They'll complete what they have to, but if they rush into it, we'll be right back where we started without demand to pick up the increased supply.

[Tbar]

WTI this morning - $61.49

Oil inventories while still high are trending down. To get us back to $80-$90pbl levels would take continued draw down of inventories, another war or an increase in global economic growth, the weakening of the US dollar. The first option seems most likely but will take a while.

http://www.investopedia.com/partner/benzinga/stock-analysis/060315/3-experts-weigh-oil-inventories-cvx-uso-xom.aspx

http://www.themalaymailonline.com/money/article/oil-prices-rally-on-falling-us-inventory

New expenditures on Saudi balance sheets.........

http://www.theguardian.com/world/2013/nov/07/syria-crisis-saudi-arabia-spend-millions-new-rebel-force

[roygarcia54]

eventually they will have to complete many of these wells or they will break contract with land owners. Not sure if all company's throw in a clause where they must produce by a certain date or a penalty will occur. I'm just speaking from what had happened in the past we worked for a company who was rushing us in to show production on a well whose lease was gonna end. I believe their contract stated if they didn't produce by a certain date the uncompleted well could be sold by the landowner to another operating company. Again this is just the company we were working with not sure if a lot of these clauses exist in the current contracts.