Oilfield guys... y’all hangin in there?

[retrieverman]

I’ve got two sons in the oil/gas industry (one’s a pumper and one’s on a rig), and I’m praying they can both stay employed through this. I talked to my son who’s the pumper this evening, and he’s pretty confident his job is secure for now.

[brokeno]

Saved $2.00 on gas today so I bought me a $2.00 bottle of water

[boh347]

Saved $2.00 on gas today so I bought me a $2.00 bottle of water

Should have spent it on toilet paper

[Radar]

Should have spent it on toilet paper

[GoneSouth]

I can tell you one thing for sure that road goes two ways and you were the first to go down it and dont ever cuss me like that again.

Unless you got a nasty PM, nobody cussed you. Unless you are the “Radar” from Mash, then I could see how you feel cussed

[Scooter]

We have two H&P rigs working to drill nine wells right now. I suspect any day now they will finish the holes they are on...run casing...then lay down and go to the house. Completion probably won't happen for 12-24 months.

happened to me back in august. First company I was with went broke and laid everyone off with completions crews saying they hadn't been paid since January. went to next company and had my next 3 locations built and ready, superintendent came while running casing and said stacking rig to the yard. got sent to another rig and week later same thing, rig #3 lasted 5 days and laid down in the dirt. Company I was with released 5 rigs over the weekend and 10 by the end of the next week. Been sitting at the house ever since. Send resumes out and make phone calls just to have them pretty much laugh at you. Try to switch to a different career just to have them say im over qualified with my 20 years of oilfield experience.

[100%TtId]

Only when the price goes down. It goes up overnight.

That's not because of a price conspiracy on the part of producers, it's because of the nature of the supply chain and how prices move in response to a domino effect. In short, it moves faster as prices go up because the price of the last unit sold has to cover the replacement cost of the next unit purchased.

It also occurs in other commodities but it most noticeable in fuel.

[boh347]

Apache plans on pulling out.

https://www.cbs7.com/content/news/Apache--568748831.html

[txwhitetail]

Sent from my iPhone using Tapatalk

[txwhitetail]

Beat me to that one!


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[txhunter90]

We buy fuel in bulk, and we just bought unleaded for $1.24 a gal. This affects nearly everyone I know. Hoping it goes back up for all.

[bphillips]

Apache plans on pulling out.
https://www.cbs7.com/content/news/Ap...568748831.html

Expected move there. They were already struggling before any of this. COG and XTO were already planning drops before it also so I’ll be curious to see how many go down for them also


If this all last too much longer a bunch will be making changes

[rut-ro]

I'm supposed apache hung in there this long!.

[tex4k]

We received our first letter from a customer asking us to drop prices! Sometimes being in the services business you just don't know whether to duck or dodge!

[BlackoutRam2500]

Energy, Energy, Energy!

Been in the business for 13 years. 2009 was rough and we lost everything. Learned from that experience so when the 2015 dip came and I was lucky enough to find work making 40% of what I had been making I was glad to get it. Fast forward to now. We have the perfect storm of Coronavirus and the Saudis cutting prices and over supplying the market by 3 million barrels per day. $31 oil and shale players running for cover.

What are my thoughts? Well... if shale goes away we need the foreigners again. You haven't seen high prices until you NEED oil from them. $4.00 gas will happen. On the flip side all the "fracking police" will be thrilled because they want electric cars and solar panels anyway. The trick about that is we don't make a single battery in this country. They come from the Chinese. So you will need the Saudis for your oil and the Chinese for your batteries. Good luck with that!

The simple truth is we need balance. The government needs to step in and set up protections for the oil and gas industry like they did for the automotive industry. We need a $40 per barrel protection. 6 million people work in oil and gas in this country and I promise you all those jobs pay good money. Simply put we can afford $2.50 a gallon but we can not afford $1.25 per gallon.