Anybody else in Oil related fields seeing a slowdown already?

[JLivi1224]

We're getting close to the end of the year and some people are running out of budget money. Haven't seen much of a slowdown on the upstream side of things.

This is a big part of it, along with hunting season and vacation usage for those who’s vacation dows not roll over. We always see this at this time of year in the industrial manufacturing/supply business. Then we typically see an uptick in the last couple weeks when some realize they have a little budget money left. The only way to get an increased budget next year is to finish blowing through the leftovers.

But I’ll say this , y’all hang in there boys. Q3 ‘19 through 2024-26 is gonna knock your socks off.

Disclaimer: I’m not directly in the oilfield business but am impacted heavily by the price of crude, as is most of the industrial world. Also,like Charlie mentioned, going blue could have a major impact on this outlook.

[TX03RUBI]

I think its just end of the year, final quarter and at the end of budget for the year. Should ramp back up at the beginning of next year.

Always slows down a bit at the end of the year as budgets run out, and trying to budget for the next year. It’s more noticeable on election years.

[miket]

Glad to see so many feel its temporary due to end of year budgets etc. Sure hope yall are right

The machine shop I used to work at is out of work right now. I was taking to them the other day and they were saying they were probably gonna have to cut the guys hours back to 32.

Dang, I hate to hear that. I only have one guy but Im getting pretty nervous. I bought 2 new-to-me CNC lathes this year, cant go too long without work....

[offthemap]

We're getting close to the end of the year and some people are running out of budget money. Haven't seen much of a slowdown on the upstream side of things.

I think its just end of the year, final quarter and at the end of budget for the year. Should ramp back up at the beginning of next year.

I'm on the land & acquisition, upstream side of things and this is exactly what I'm experiencing. Companies always seem to slow down at the end of Q3

[bphillips]

As far as as machining I can say this. We have almost none of it done here anymore as it just cuts into profits too much. It’s cheaper for us to have it done in Canada and ship it than to have it done in Texas. Faster as well in most cases including trucking.

[JTRichardson]

Q4 is generally budgeted as a soft quarter for manufacturing -- which I am involved in (Sales)

We have def seen a slowdown a little earlier this year than normal -- but we also saw a crazy Q1 and 2 due to rebuilds on stackouts and capex coming through

everyone is organizing 19 budget right now and new capex projects and just keeping up with basic R&M at the moment

[buzzbait]

I'm on the land acquisition side. We just got the green light to start leasing more land. Right now we have a commitment of 50 units and they want to add more.

[Cajun Blake]

Lafayette has taken a hard hit over the last several years, for sure. .

Another huge blow to the economy was LAGCOE leaving Lafayette after 63 yrs and moving to NOLA in 2019 In the long term it will be better for the industry as a whole due to the Morial convention center size and # of hotel rooms in NOLA. In the short term and extended future, Lafayette will miss the $12M - $15M economic impact it received in 3 days from the Expo.

LAGCOE began in 1953 in the parking lot of the Petroleum Club of Lafayette, a group of local oil men and women came together to create a showcase for the services and technologies of local oil- and gas-related businesses. The Lafayette community embraced the idea and industry leaders volunteered their time and talents enabling the event to grow to be the second largest oil and gas industry tradeshow in the United States.

Today, LAGCOE hosts a three-day event that provides a platform for the industry’s innovators to present cutting-edge technologies, equipment, and services for both onshore and offshore markets. Along with traditional exhibits, LAGCOE technical sessions feature industry leaders addressing current technologies, issues and trends from around the nation and around the globe. The press release states at its peak, LAGCOE boasts representatives from 49 states, 40 countries and 17,000 attendees.

[TheHammer]

Just the 4Q slowdown I would guess.

[txpitdog]

One division of the company I work for manufactures and services pressure pumping equipment, and they are pedal to the metal. So much so that they are starved for techs out in Odessa/Midland.

[bigmike]

Nope still 100 hrs a week

[Clintk]

Typical 4th quarter like the rest said. Expecting 2019 to be good from my customers

[rater1979]

We've been steady in deep water GOM for Shell. The Permian is slammed. Midcon is holding steady and the NorthEast is doing pretty good.

[White Falcon]

What shape is Cactus in?

[TexasTK]

We manufacture production equipment so most of our work comes from new drills/wells. We are as busy as we have ever been.