Hey Oilfield Guys!!

[Bob G]

today...

My project ended today.
I'll be looking for the next one...

tending the fire,
Papa G.

[Muddy Bud]

We have been lucky enough to have a very long and expensive contract with a major oil company. All though we are no longer drilling for them, we are still under contract by them and getting quite a few wells drilled by getting farmed out to smaller companies who are taking advantage of the lower day rates. With 5 more years left in the contract we are hoping that it picks back up before time allows the price to drop low enough to just buy out right.

One stop in Gran Canaria two weeks ago showed that even over seas we are not immune to the slow down. Quite a few deep water rigs stacked in there. There were also alot in Congo West Africa. More jack ups than anything but there were a couple very modern 6th generation Stenna drill ships idle there. We are currently underway to drill a well to completion in Bulgaria, so hopefully we can finish the year off here. Then have two wells to drill in Cypress in the Mediterranian sea.

The office has laid off quite a few people. And we are cutting the budget anywhere we can. I wish we could cut out some of our training. That would save my company tons of money. As we have at least a week of every time off dedicated to that. But we cant say no in these times. They pretty much got us by the b@{{s. I cant really complain, reading these posts just scares me to death. Im gald we are still working and hope and pray for every on here that it picks up soon.

[JW]

Been there in 2015!



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[Slew]

Been there in 2015!



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That actually looks awesome!! Heck there's $3 worth of Bologna on that thing!! Listened to a presentation by the guy that wrote the domino effect book last week. His information was pretty eye opening to somebody not in the business.


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[Hawkins]

Ray,

Yes, My understanding is Exterran sold out that truck / service portion of their biz nationwide...my guys who I deal with were somewhat nervous to see the changes, but I hear the remaining portions of Exterran are hurting & Archrock is staying busy in these tough times.

I was told by an Exterran now Archrock mechanic that they are the same company. Archrock was a spin off of Exterran. Exterran was going to do more out of country stuff and Archrock was staying in the US. Just what i was told.

[RINCON]

Amigo, didn't Archrock buy out Exterran? At least in Corpus they did.

Ray

Not true....spin off

[fishycatfish]

Got the Axe a couple days ago, at least I may get to fling an arrow at a turkey or two until I can get something lined up.

[Artos]

You can call it what you want (spin off or buy out), but Archrock now has their own trade name on the stock market...fwiw.

My Archrock guys (again) are now glad they are not part of Exterran & happy for the most part with whatever changes happened.

[Poco]

You can call it what you want (spin off or buy out), but Archrock now has their own trade name on the stock market...fwiw.

My Archrock guys (again) are now glad they are not part of Exterran & happy for the most part with whatever changes happened.

Lol!! Exactly what I was thinking. They can call it a spin off but every Exterran truck sticker down here has peeled off cause I haven't seen one yet. For the record, like Artos knows I was in the gas compressor industry for 9 years. I sold to most compressor rental companies and end users down here.

Amigo Artos, let me know if you get around this way. Like I mentioned to you before, I will share the contacts I have left on my phone with you.

Ray

[J.B.]

You can call it what you want (spin off or buy out), but Archrock now has their own trade name on the stock market...fwiw.

My Archrock guys (again) are now glad they are not part of Exterran & happy for the most part with whatever changes happened.

It was a spin-off (split basically). Archrock is the US compression rental fleet & service company of former Exterran. "Exterran" is now strictly compression & production equipment sales in US and International.

[RINCON]

It was a spin-off (split basically). Archrock is the US compression rental fleet & service company of former Exterran. "Exterran" is now strictly compression & production equipment sales in US and International.

Thank you...

A buy-out involves acquired in an investment transaction...nobody acquired anything.

That said...happy for all the guys as the split made perfect sense business wise.

[gingib]

Yeah heard they are shutting down shop...least they gave 16 weeks severance pay!

[Death Dealer]

Got the call today. Was hoping I might make it through but I didn't. Lots of good folks losing their jobs with no sign of improvement. I'll be on the job hunt myself.


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[coldgas]

Got the call today. Was hoping I might make it through but I didn't. Lots of good folks losing their jobs with no sign of improvement. I'll be on the job hunt myself.


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Sorry to hear. I know my BIL is waiting on that phone call himself and I've had several people calling me saying they just lost their job.
Good luck in your search.

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[JW]

Got the call today. Was hoping I might make it through but I didn't. Lots of good folks losing their jobs with no sign of improvement. I'll be on the job hunt myself.


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Sorry to hear that bud. There is more refinery work going on now if you can transition to it in the mean time.