Hey Oilfield Guys!!

[bphillips]

I might as well follow suit!

I got a spot in a project for anybody wanting into the investment side, or anyone with a tax burden that doesn't want to toss their money away to obummer

Pm me

[TWP]

I am about to get on a plane to San Francisco to meet with a very large commercial REI and mentor. He wants to talk apartments, but we have also been talking Oil and Gas. Please send me a PM. I don't know how to do it with Tapatalk

[coldgas]

[URL]http://www.breitbart.com/big-government/2015/07/08/second-wave-of-u-s-oil-boom-will-bankrupt-opec//URL]

Not sure how true this is but I say if it is true the break the *******s.

[bphillips]

Well fellas just got another email from my current employer and they are hitting us with a 3rd round of pay cuts come Aug 1st. This will will put my cut in the mid 30% range at least.

Another company made me an offer almost at my original pay so I'm stumped as to what is really going on other than not coming up quick. Filling out job apps and background authorizations today just in case.

[ladrones]

Well fellas just got: another email from my current employer and they are hitting us with a 3rd round of pay cuts come Aug 1st. This will will put my cut in the mid 30% range at least.

Another company made me an offer almost at my original pay so I'm stumped as to what is really going on other than not coming up quick. Filling out job apps and background authorizations today just in case.

From a rumour I heard last week producers were calling all contractors in and asking for an additional 15-20% cuts in rates.

[bphillips]

From a rumour I heard last week producers were calling all contractors in and asking for an additional 15-20% cuts in rates.

If that happens across the board it will really hit hard for lots of people.

[denowt]

With all of these price/pay cuts, and companies still operating at the reduced profits, it brings to light just how much money is being thrown around and wasted when the oil/gas prices are inflated.

Flame away, but I ask that you argue with facts.

[bphillips]

With all of these price/pay cuts, and companies still operating at the reduced profits, it brings to light just how much money is being thrown around and wasted when the oil/gas prices are inflated.

Flame away, but I ask that you argue with facts.

Maybe… Its getting to the point where lots of guys can make the same money and be home everyday though. Ive always said thats what most of the pay is for is the time away. The only guys that will put up with it are the ones who got in over their heads with bills. My next cut won't be enough to leave the house even though its still good money

[BowOnly81]

I start my new rig that we just picked up on Wednesday. In the cotton valley so 3-4 week wells. I was home for a month in June so this will be a nice change. The month home was nice too tho. Good luck to those still fighting the good fight. And I agree with everything you've said bphillips. Hope we're wrong but I don't see it getting good for at least another year. And good luck in your change of companies, if you choose to do so.

[Skinny]

It's trickled down to us lease operators finally.

We aren't allowed any overtime at the moment, but I'm not complaining. I've spent the last three years babysitting a company phone just waiting for a call out...sometimes 2-3 in an evening or over night. It's nice to work my 8 and turn the phone off...or be able to do what I need to do around here without having to go back to work.

[kyle1974]

It's trickled down to us lease operators finally.

We aren't allowed any overtime at the moment, but I'm not complaining. I've spent the last three years babysitting a company phone just waiting for a call out...sometimes 2-3 in an evening or over night. It's nice to work my 8 and turn the phone off...or be able to do what I need to do around here without having to go back to work.

How are they handling callouts when something goes down?

[kyle1974]

With all of these price/pay cuts, and companies still operating at the reduced profits, it brings to light just how much money is being thrown around and wasted when the oil/gas prices are inflated.

Flame away, but I ask that you argue with facts.

I'll flame. Corporations were making substantial profits which in turn yielded share holders a greater return. Reduced salaries, reduced cost of services, reduced headcount so less are required to do more under a constant threat of being laid off.

Yep. Just a bunch of people throwing money around senseless.

[Skinny]

How are they handling callouts when something goes down?

Just get it going first thing the next morning basically. Most call outs are compressors going down. Well still flows but not like it would with injection.

[ladrones]

All the local hotels are full with welding rigs. Once the pipelines are built up it don't look so good

[miket]

With all of these price/pay cuts, and companies still operating at the reduced profits, it brings to light just how much money is being thrown around and wasted when the oil/gas prices are inflated.

Flame away, but I ask that you argue with facts.

The oil business is a lot like farming, during one season you chill and maintain eqpt, get things set up for spring etc. Another season its running and gunning from before dawn to well past dusk. It is winter now. ( oil boom and bust seasons typically last years ) The companies are to a great extent living off the previous summers harvest. It all evens out in the end, the farmer gets big checks for his harvest but he better make sure he banks what he can so he can make till the next harvest all the while buying seed, diesel, fert etc.

The price cuts are costing jobs, some high paid employees and plenty of hard working middle class people. It almost seems as if you think that a company should make just enough money to cover expenses when times are good, but what about when times are bad? Just like everyone else that has any sense, you gotta make hay while the sun is shining. Cuz tomorrow ( today ) it might rain.