Hey Oilfield Guys!!

[RiverRat1]

At least fuel is cheaper

Hope this thread got to some guys in time because the outlook keeps getting worse

They, including our own media, will not let go until everyone believes the oil supply will never run out. This happened what 20 years or so ago when oil hit $9 a barrel? The only way this trend turns around in the next 2-3 months is with a big war.

[kyle1974]

There were about 4800 rigs running in North America before the 80's bust. It's never got close to that since. Many rig contractors bought up rigs from bankrupt drilling companies for the sole purpose of scrapping them out. Taking out the competition is one of the things that happens in any industry. I agree that this is what OPEC is trying to do now.

[JTeLarkin08]

I wonder what the price of oil will do to the amount of rigs drilling for natural gas?? Will some of the rigs drilling for oil start drilling natural gas?? I dont really know how they are tied together.

[coldgas]

I wonder what the price of oil will do to the amount of rigs drilling for natural gas?? Will some of the rigs drilling for oil start drilling natural gas?? I dont really know how they are tied together.

The price of ng must go up first. This morning ot was 2.80 something and needs to hit the $7 to $8 range and they will start drilling for gas.
Ng and oil are in a lot of the formations together so when you drill for one you get the other also. Ng has been the by product of oil and the oil drilling is the reason for the surplus of ng at this time.

As producers slow oil production they will also slow gas production causing the natural gas prices to rise at least we hope. Gonna be an interesting year for sure. Praying somehow we all keep our jobs.

[sambo73]

Set to leave for Haliburton next. Will be fraccing. Im scared to death. Hope it works out or i find something close to home

[RustyRanchero]

I read through 19 pages of this in two days. WOW.

We have some very smart people on this board and some very (Fox, CNN) educated people. No matter what you are going to heart different things, that's what news sources do and how they inform people. Everyone has their own opinion no matter what the given thing is. But, I think we can all agree at the end of the day we would never want to lose our income stream and hurt our FAMILIEIS. Mind you, I capitalized families because we do this kind of work for them, am I right? So, lets not poke at people for what they do for work because it's (for most people, not all) for their loved ones to eat and live to the best of their abilities.

My whole family has done nothing but O&G related work for 100 years. They've seen it all and they know how to weather storms. I work in the midstream side and operate a cryogenic gas plant, I do not expect us to see such a hard hit as most of you upstream guys but I'm sure we will be pulling back on the reins with spending and contractors. Should be interesting to see what happens.

[Mousehunter]

Lord, please grant me one more boom - I promise not to waste the next one.

[Smithwr]

Lord, please grant me one more boom - I promise not to waste the next one.

I spent all my money on women and booze.....and the the rest I just blew.

[bphillips]

Where around Gonzales were you? My family place shares a fence with the Barnhardt Ranch in Gonzales County.

I followed rigs and worked every direction around there for over 3yrs but I don't remember many of the lease names.

[RiverRat1]

Down 5% again... Just plain brutal.

Markets been real choppy lately. Afraid it will get way worse before it gets better. I still say in about a month Jan unemployment numbers will make the markets have a really bad day...that is assuming they don't lower the #'s over and over leading up to them.

[BrianL]

Crude prices ($45.73) continues to drop, and almost every article, or news report only talks about the supply side of this issue, demand isn't mentioned. Supply is exceeding demand by 2 million barrels a day, with US production expected to add another 1M per day to that surplus in 2015. Russia is increasing production, along with Venezuela. That is 10% of OPEC production in surplus! If consumption doesn't increase big time quick, this is going to look more like 80s more than 2008.

[charlie mcmahan]

Yea we were averaging 12hr around Gonzales and fastest was 9 for EOG there. Got all the plaques records and still let go. I don't trust their office guys for nothing

Just depends where y'all were on the EOG Totem Pole. I know they were going keeping around 22 rigs running but I've also heard they might cut 6 more possibly.

[bphillips]

Just depends where y'all were on the EOG Totem Pole. I know they were going keeping around 22 rigs running but I've also heard they might cut 6 more possibly.

At the time the fastest one they had and drilling for them almost 3 years. When office personnel changes it only takes one person with a title and a chip on his shoulder to change it up.

[charlie mcmahan]

At the time the fastest one they had and drilling for them almost 3 years. When office personnel changes it only takes one person with a title and a chip on his shoulder to change it up.

I hear you on that!! Might have been one of those brother-in-law deals they pulled on y'all.

[WCB]

I have tried to read some of this thread today ( not much...) and understand many of you will be hurt. Heck maybe many of us. Some of you are flat out wrong, some are flat out right, and some have no clue except what you hear or think you know. I don't know where I'll be. I'm in the defense industry so maybe I'll be OK as there is probably going to be a big war somewhere.
Is this the end? Probably not. But I'm a poor hourly worker so I don't have as far to fall as some if you. Is that good? Heck, who knows...
I hope and pray we ALL make it to where we want to be and can live a good life.
God Bless us all and can the two sides bickering here please stop?? We are all in this together.
To the end my brothers and sisters.

But if we gotta all get out of Dodge, shoot me first or I'll shoot you and take your supplies...