Anybody else in Oil related fields seeing a slowdown already?

[rtp]

My brother's shop does mostly Oil and Gas related product. They are still very busy. He did say Schlumberger had pretty much dried up.

[Radar]

Been some slow downs in the frac equipment shops, SLB got rid of some contract workers and a few mechanics. I am hearing of some smaller frac companies losing contracts to Halliburton. Oil is down to 46.00 a barrel right now, too much oil above ground.

I knew this was coming, been in the oilfield as a vendor a long time. Slows down ever year in the 4th quarter, but the price went down now on the barrel. West Texas will be ok, but the Eagleford will be slow.

Mike, your gonna have to get some work in the shop that aint oilfield related. My friend runs a machine shop down here and he picked up a contract with a metal stamping company to build check fixtures and gages. Says it covers most of his overhead with just that work.

[Leemo]

Nah. The hotter it gets, the harder it crashes. I like stability. I have seen a very serious drop in work for me personally, in the last few weeks. I am slower now than I have been since 2015.

How about doing some work from other shops that are too busy to handle the load ?

[bphillips]

No slowdown for us yet. I know of about 8 rigs getting laid down soon between 2 operators but that’s about all I have heard. Low performers will be out in first quarter it looks like but not looking like too much

[Burnadell]

Production has been rising, and the price of oil has dropped 35% since the first of October. The down cycle is starting. Unless there is a catalyst to start oil back up, drilling will slow down until prices go back up.

[doublearrow]

Midstream. We are so busy we have contractors working 7 days a week holidays christmas/thanksgiving included. Its insane. We werent like this even when it was 100 plus.

[roughneck266]

Same as every year for me. Last quarter, they never want to buy parts and supplies. Always get a glut of stuff we have been waiting on about mid January. My rig does subsea intervention work, so it isn't quite the same as drilling wells and such.

[arrowsmack324]

I work in a small shop cutting valve castings and haven't noticed any slowdown. We have orders rolling in faster than we can get them out.

[miket]

Been some slow downs in the frac equipment shops, SLB got rid of some contract workers and a few mechanics. I am hearing of some smaller frac companies losing contracts to Halliburton. Oil is down to 46.00 a barrel right now, too much oil above ground.

I knew this was coming, been in the oilfield as a vendor a long time. Slows down ever year in the 4th quarter, but the price went down now on the barrel. West Texas will be ok, but the Eagleford will be slow.

Mike, your gonna have to get some work in the shop that aint oilfield related. My friend runs a machine shop down here and he picked up a contract with a metal stamping company to build check fixtures and gages. Says it covers most of his overhead with just that work.

Been working on that, just hard to get in the door if you dont know anyone on the inside. From what I hear there is plenty of chemical plant related work but I have no contacts in that side at all.

[Radar]

Been working on that, just hard to get in the door if you dont know anyone on the inside. From what I hear there is plenty of chemical plant related work but I have no contacts in that side at all.

Maybe a TBH'er will get you a hook up at a chemical plant. A guy I go fishing with runs a line boring service and stays real busy doing line boring on construction equipment.

[willwork04]

Same as every year for me. Last quarter, they never want to buy parts and supplies. Always get a glut of stuff we have been waiting on about mid January. My rig does subsea intervention work, so it isn't quite the same as drilling wells and such.

Are you with Helix?

[roughneck266]

Are you with Helix?

Yessir,
You too?

[willwork04]

Yessir,
You too?

No. We pick up the Q4000 every year and we have the HP1 under contract as well.

[roughneck266]

No. We pick up the Q4000 every year and we have the HP1 under contract as well.

Small world! I used to be on the Q4. She's a good ol girl. Gettin a little long in the tooth now, but she's still good iron. One of the best crews I have ever worked with.

[dbaio1]

Prices falling steadily.
OPEC cuts we're nothing but a mere blip.
Permian and other US fields going WFO.
It's taking it's toll and will continue I am afraid.
Sure hope I am wrong.