Hey Oilfield Guys!!

[boh347]

Heard they made a deal to lift the export ban.

[RMW]

Ordered 6000 gallons of farm diesel today at 1.10 gallon!!!! Oil dropped close to 2.00 today. I guess I should of waited a little bit longer and got even a cheaper price.

[JSAPP]

Ordered 6000 gallons of farm diesel today at 1.10 gallon!!!! Oil dropped close to 2.00 today. I guess I should of waited a little bit longer and got even a cheaper price.

Congrats. Does that have something to do with this thread in support for the oilfield community during tough times?

[Death Dealer]

Ordered 6000 gallons of farm diesel today at 1.10 gallon!!!! Oil dropped close to 2.00 today. I guess I should of waited a little bit longer and got even a cheaper price.

Congrats.....May you be lucky enough to order 6000 gallons at $6.00 a gallon one day. Let me know how exciting it is then.

[RMW]

I wasn't trying to rub it in on you guys. It's just hard to believe that fuel prices have fallen this low. I thought I would never see prices like this again. Anyway I'm sorry and hope everything is well on your end.

[CoolHandLuke]

When diesel was $4+ a gallon the poor farmers around here couldn't keep their diesel tanks from being stolen. I know one farmer that lost 3 tanks on trailers. I know this doesn't help you guys in the patch but $4 diesel didn't help anyone.

[bigmike585]

http://www.dallasnews.com/business/e...n-in-debts.ece

Irving-based Magnum Hunter Resources Corp., an oil and gas explorer once heady with spending amid the U.S. shale boom, filed for bankruptcy as its heavy debt load was exacerbated by the glut in cheap energy.

The company said Tuesday that it has the support of a majority of its lenders for a turnaround plan. Holders of 75 percent of the company’s debt have agreed to support the restructuring, which calls for a $200 million loan to keep Magnum Hunter operating in bankruptcy, according to a statement.

Read this and found it interesting. Sounds like they plan on buying up a bunch of cheap assets with that $200mil, and coming out on top when things pick back up. Seems like those hunt oil guys can't lose. Since they will be "operating in bankruptcy" wonder if they'll be on the hook for that debt when they get back in the black?

[jmarp33]

Hey Oilfield Guys!!

For anyone interested, here's an interesting take on oil economics and how this downturn relates to those in the past. I can't verify its validity and can't speak to any specifics but being in the industry myself, it's just another humbling reminder of how cyclical this business can be.

https://m.youtube.com/watch?v=ahx8frCpdhU

[Artos]

I wasn't trying to rub it in on you guys. It's just hard to believe that fuel prices have fallen this low. I thought I would never see prices like this again. Anyway I'm sorry and hope everything is well on your end.

No worries...your past/history of posts make it clear you are sympathetic & understanding to the cause amigo. It's just irritating to those of us in the industry to have folks deliberately come on this thread & slip in snide remarks about how spiffy things are in their gas tank price wise, while others here are having to tell their employees that their mortgage payments will need to be met by other means than last week's check.

We are simply lacking class by a certain few, but we are thick skinned & take care of our own.

[Bumpy]

I wonder how the guys who talked about USW Union Employees feel about Oilfield workers?

[Pedernal]

For anyone interested, here's an interesting take on oil economics and how this downturn relates to those in the past. I can't verify its validity and can't speak to any specifics but being in the industry myself, it's just another humbling reminder of how cyclical this business can be.
https://m.youtube.com/watch?v=ahx8frCpdhU

Very interesting indeed... My biggest question/concern is how much the current price drop is due directly to the "green agenda" the current administration is pushing which IMHO would make this cycle of low oil prices different. For example, how is it possible that we now "want" to export our oil at a time with such a low price. Seems to like exporting at such a low price will drive price even lower while the oil reserves are high but will eventually spike to make the green energy industries look more sensible. Some of you knowledgeable fellas please chime in. Prayers up for all suffering due to the low oil prices.

[kyle1974]

Very interesting indeed... My biggest question/concern is how much the current price drop is due directly to the "green agenda" the current administration is pushing which IMHO would make this cycle of low oil prices different. For example, how is it possible that we now "want" to export our oil at a time with such a low price. Seems to like exporting at such a low price will drive price even lower while the oil reserves are high but will eventually spike to make the green energy industries look more sensible. Some of you knowledgeable fellas please chime in. Prayers up for all suffering due to the low oil prices.

I'd guess the green movement hasn't moved the needle as a measure of direct efficiency measures.

On a political aspect though, allowing opec to flood our market with cheap oil is a direct issue with the obama green movement.

Opec has been open that they're flooding the market in order to ruin competition.

Why our government doesn't have the balls to call this a dumping violation is beyond me. That is exactly what anti dumping regulation was designed to protect against.

Of course, if you're in the USW, the feds will be right there to have your back and place a lawsuit on foreign nations.

[TWP]

Prayers for all that are looking for work, just remember that the world needs folks with great work ethics, be it oil or anything else. Keep your head up.

I have been in ND, OK, TX, NM, and PA the past two months and man is it slow. Makes me wish for all the craziness a couple years back. Williston used to be a modern day San Fran in '49, not so much now. We are holding on, but getting mighty tight.

[jmarp33]

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[JW]

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That's sadder than this.