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

[Hix]

I believe we still have the directional work on 590

Phoenix?
They were on it...

day DD used to be on my rig i just stacked when he worked for Sperry and we were drilling springer wells, the night DD was a driller on my rig as well prior to going directional.

Rig just swapped back to Sperry since we are going to be drilling Springer wells to run their ADR tool and iCruise.



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[bphillips]

Phoenix?
They were on it...

day DD used to be on my rig i just stacked when he worked for Sperry and we were drilling springer wells, the night DD was a driller on my rig as well prior to going directional.

Rig just swapped back to Sperry since we are going to be drilling Springer wells to run their ADR tool and iCruise.



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Yes sir Phoenix. Didn’t know 100% if we still had it or not. Have had quite a bit of Continental work

[Hix]

Yes sir Phoenix. Didn’t know 100% if we still had it or not. Have had quite a bit of Continental work

They may get it back next well depending on where we go. Who knows though. Changes every day!!


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[TheHammer]

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/034BFAA6-9098-11EA-9208-AF2E6FA5B5BC

I thought this way all along. We are still way too reliant on oil to be making the cuts we’re making (though I know it’s necessary for prices and surplus) WHEN things get somewhat back to normal and the economy gets back rolling, our production could very likely be below our demand and create an all time boom. The cutting of production is inevitable, but could be a blessing in disguise.

[bphillips]

https://www.google.com/amp/s/www.mar...8-AF2E6FA5B5BC

I thought this way all along. We are still way too reliant on oil to be making the cuts we’re making (though I know it’s necessary for prices and surplus) WHEN things get somewhat back to normal and the economy gets back rolling, our production could very likely be below our demand and create an all time boom. The cutting of production is inevitable, but could be a blessing in disguise.

Maybe it’s just wishful thinking.

It will and it will be terrible for the economy. Good for us for a short time though

[TheHammer]

It will and it will be terrible for the economy. Good for us for a short time though

I don’t think it will be as bad as some people think as a whole. Yes people will pay more for fuel, but oil drives I would say 50% of all jobs in America and some form or fashion, so I think it could do as much good as bad by raising gas prices. The restaurant owner that’s been hurt so bad in the last 2 months in a little town of a few thousand people will benefit greatly from a 20 man frac crew showing up to eat lunch or dinner every other shift.

I see what you’re saying, but I think a stronger oilfield is a stronger America no matter what fuel prices are. For the record I do not want $100 oil, that’s not what I’m saying, but I do believe when oil is stable, it’s more of a benefit than a burden.

[BlackoutRam2500]

I don’t think it will be as bad as some people think as a whole. Yes people will pay more for fuel, but oil drives I would say 50% of all jobs in America and some form or fashion, so I think it could do as much good as bad by raising gas prices. The restaurant owner that’s been hurt so bad in the last 2 months in a little town of a few thousand people will benefit greatly from a 20 man frac crew showing up to eat lunch or dinner every other shift.



I see what you’re saying, but I think a stronger oilfield is a stronger America no matter what fuel prices are. For the record I do not want $100 oil, that’s not what I’m saying, but I do believe when oil is stable, it’s more of a benefit than a burden.

This! Imagine a world where oil is $75 per barrel guaranteed and increases are tied to inflation. If we got Wall Street out of it that's what it could be.

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[WItoTX]

Saw Cushing reported a 700,000 decline in inventories this morning after projecting another 3mm barrel surplus. Oil price is up almost another dollar after the news. Good to see, now more people need to start going back to work!

[futureagg]

Saw Cushing reported a 700,000 decline in inventories this morning after projecting another 3mm barrel surplus. Oil price is up almost another dollar after the news. Good to see, now more people need to start going back to work!

I am sure there are quite a few people that would love to be back at work. I for one love working in the industry! I think a lot of companies are afraid to start hiring again due to unknown futures currently.


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[JTRichardson]

354 rigs running in North America....

WOW.

Internally we are speculating the low to be 200-250, seems it is fast approaching the way rigs are dropping weekly.

hope you are all well and staying as positive as possible for now

[mzurovec]

354 rigs running in North America....

WOW.

Internally we are speculating the low to be 200-250, seems it is fast approaching the way rigs are dropping weekly.

hope you are all well and staying as positive as possible for now

Still have a ways to go on activity cuts, but oil being up 11% this morning and in the low $30s, I think we might see a little activity come back in the Permian if it stays here for a few days. Diamondback has said if it gets to the $30s they might start frac'ing again, but it'd be nice for everybody to catch their breath vs. slamming the pedal to the floor again. Before all this mess, they were at 8 frac crews. They're at zero today...

MZ

[WItoTX]

Still have a ways to go on activity cuts, but oil being up 11% this morning and in the low $30s, I think we might see a little activity come back in the Permian if it stays here for a few days. Diamondback has said if it gets to the $30s they might start frac'ing again, but it'd be nice for everybody to catch their breath vs. slamming the pedal to the floor again. Before all this mess, they were at 8 frac crews. They're at zero today...

MZ

Glad to see above $30 for this first time since Feb. EOG said they could tread water above $30 back in Early March prior to any major cuts.

If it keeps trending today, it will be mid 30's soon. And today a lot of offices are opening up. Hopefully demand keeps increasing.

[TheHammer]

Still have a ways to go on activity cuts, but oil being up 11% this morning and in the low $30s, I think we might see a little activity come back in the Permian if it stays here for a few days. Diamondback has said if it gets to the $30s they might start frac'ing again, but it'd be nice for everybody to catch their breath vs. slamming the pedal to the floor again. Before all this mess, they were at 8 frac crews. They're at zero today...

MZ

We never learn our lesson. That’s the whole reason prices didn’t climb fast the last time. Everyone jumps the gun and floods the market. We may never learn, but slow and steady is the answer not jumping right back into “drill baby drill.”

[mzurovec]

We never learn our lesson. That’s the whole reason prices didn’t climb fast the last time. Everyone jumps the gun and floods the market. We may never learn, but slow and steady is the answer not jumping right back into “drill baby drill.”

Agreed. This one feels different than the others I've been through with guys actually curtailing production. Problem is you KNOW as soon as one operator feels it's time to get after it again, most of their peers will do the same. I believe this will be the case until major consolidation occurs on the E&P side as the players with weak balance sheets have to keep some money coming in.

Shale is the biggest Ponzi scheme in the world.

[JTRichardson]

Glad to see above $30 for this first time since Feb. EOG said they could tread water above $30 back in Early March prior to any major cuts.

If it keeps trending today, it will be mid 30's soon. And today a lot of offices are opening up. Hopefully demand keeps increasing.

Our office is going to fully open on June 1st, I have been coming in everyday the past few weeks just to get out of the house.

Only myself, the president, and operations manager have been here. All of us ready to get back to some kind of normal

I have also heard the same thing from my customers that work for EOG -- lets hope for the best