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

[STX_Shooter]

Yep.. Its one of the most important things a parent can teach his children no matter their career path.. Not THE most important but in the top 3 for sure..

My step father came into my life when I was around 25. His favorite quote was “you can’t eat Olive Garden when you make McDonalds money.” RIP Major.

[txwhitetail]

Pioneer cutting budget in half and Concho dropping about 25%.


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[JTRichardson]

Oil at $21/bbl


this is wild yall

[Radar]

Is Marathon pulling out of the Permian?

I do know that EOG canceled some pad work last week, that affected one of my customers.

[TwoHighways]

Cap those wells. $20 a barrel currently. This is nuts

[SaltwaterSlick]

One thing for sure, at $20/bbl, there won't be a surplus for long... That's some mighty cheap feed stock for the petro-chemical bidness...

[WItoTX]

Is Marathon pulling out of the Permian?

I do know that EOG canceled some pad work last week, that affected one of my customers.

EOG said they are in a strong position at $30. $20 is no good.

[Burnadell]

EOG said they are in a strong position at $30. $20 is no good.

Who at EOG said that? I'll bet the CEO didn't say it.

[kyle1974]

Who at EOG said that? I'll bet the CEO didn't say it.

LOL.. no kidding. no one is in a strong position at $30 oil... perhaps basic survival.

[bphillips]

Who at EOG said that? I'll bet the CEO didn't say it.

Not all of EOG. Rockies will shut down and Eagleford will struggle then Permian will be the last to feel it for them

[bphillips]

Is Marathon pulling out of the Permian?

I do know that EOG canceled some pad work last week, that affected one of my customers.

EOG cancelled where?

[txoutdoorsman24]

As of Monday, EOG eagleford division has only laid down 3 WO rigs. Still have around 10. I am with EOG daily and know their plans like I work there. According to engineers, Permian and Eagleford will continue as planned for the foreseeable future but will be a lot slower operations than beginning of the year. They have enough capital to continue working for a while. I know they save quite a bite of money on my equipment compared to my competitors. As long as they keep working, I’ll have a job so let’s pray for that

[WItoTX]

Who at EOG said that? I'll bet the CEO didn't say it.

I knew I should have posted the article. Here you go:

https://pubs.spe.org/en/jpt/jpt-arti...tail/?art=6745

"EOG is also cutting capex spending for 2020 by 31% to a new range of $4.3 to $4.7 billion. It said that the planned spending would mean no production growth, but the company would generate “strong returns at $30 oil price.” The activity will be focused in the Permian’s Delaware Basin and the Eagle Ford."

[Radar]

EOG cancelled where?

South Texas, one of my customers builds pads and they had 4 cancellations from EOG.

[bphillips]

South Texas, one of my customers builds pads and they had 4 cancellations from EOG.

Oh that makes sense. I was about to say there is no changes on Permian drilling schedule so far.