Hey Oilfield Guys!!

[RJK70]

I was told earlier that Halliburton is going to buy Murphy

That would be an interesting move for them...

[kyle1974]

That would be a real interesting move being that they're spending a ton on baker right now.

[bboswell]

EOG finally dropped the hammer on my dad today. He's been contract consulting for the last 5 years and was fortunate to hang in there as long as he did.
If yall know of any one needing some troubleshooting or construction work he will be free after the first. He's a TEG and amine genius but with 45 years experience he knows how to fix about anything on the production side. For health insurance reasons he doesn't want to retire till my mom reaches retirement age.

Man I hate these stories. Prayers up!

[bowhuntertex]

I hear Schlumberger is going to lay off another 1000 people here real soon. And also heard rumors that they don't expect to see any real pick up until the summer of 2017. Lets hope not. I am still sticking by my guess of late 2nd quarter of 2016.

We have one job left on the books that will take about 14 days when the weather subsides and we may be going to dry dock for the winter. I sure hope they can find more work, because 8 hours a day and being away from home is not what I want to do. But having a job with something coming in is better than nothing coming in.

[sectxag06]

I wanna hear the pros / cons of this from you fellas... Help me follow the money so I know where the votes lay.

http://www.foxnews.com/politics/2015.../?intcmp=hpbt1

It will get downed by obama. We should be lifting the ban on crude exporting. Our refining industry is not set up to handle the light sweet crude boom we've seen. We are very inefficient at it.

There will be no new refineries built of any real significance in this country. The EPA will see to that.

So, it makes sense for us to export the stuff we are not efficient at refining and import the heavier crudes.

[txjustin]

I was told earlier that Halliburton is going to buy Murphy. And its not going to be good for current Murphy employees.

Why would they buy a production company? Not saying it isn't true, but hard to believe. Also, with the pending Baker deal, I imagine most of their resources are locked up until that closes. Interesting however....

[Bowdidley]

I was told earlier that Halliburton is going to buy Murphy. And its not going to be good for current Murphy employees.

....Just curious, who did you hear this from...specifically

[CollierAnderson]

Any speculation on when things might pick back up?

[sectxag06]

Any speculation on when things might pick back up?

I work on the marketing and trading side of a producer. Let's just say it's about to get even uglier at least for the short term.

Twice a year, the banks do a price redetermination which effect how much revolving credit producers get. They take a look at the forward price of crude and gas as well as a company's financial position.

It's sort of like having a credit card where the bank takes a look at your income and expenses 2x a year and decides if you are liquid enough to get more credit or lower your cap.

During the spring of this year, banks were actually quite lenient on their price decks for crude oil. They assumed like most of the industry that the extreme dip in prices was very short term. Well, that was obviously wrong.

The fall redetermination is going to be brutal. The price decks are pretty draconian. We will see a number of producers go belly up in the next month.

[Artos]

Sorry to hear about the continued layoffs fellas...


I got some good news & became official my training period that has been going on since Feb 2nd ends at the end of this month...man, will it be nice to be back home during the week!!

[coldgas]

Any speculation on when things might pick back up?

They are doing a lot if siesmograph work in our area.

[bowhuntertex]

They are doing a lot if siesmograph work in our area.

Not very much seismograph activity going on anywhere else. All the big companies I worked for are struggling to find work. Dawson seems to be the only one staying steady.

[coldgas]

Not very much seismograph activity going on anywhere else. All the big companies I worked for are struggling to find work. Dawson seems to be the only one staying steady.

The rumor is apache paid for it. I know from the past that the rigs will be rolling back in as soon as the prices look like they are coming up.

[CollierAnderson]

I work for an energy company and all we have been talking about is cutting budge which is normal when oil is at this price environment. Ive read some stuff saying that oil could continue this trend well into 2016 so hopefully everyone can hang on for another year.

[bowhuntertex]

The rumor is apache paid for it. I know from the past that the rigs will be rolling back in as soon as the prices look like they are coming up.

We are working for Fieldwood right now who bought out all of Apaches offshore holdings. Glad to see someone is Seismic is working.