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

[bboswell]

This year. If next year then we are all screwed no matter what

Agreed but I’m just not seeing what will drive a Q4 ramp up

[kyle1974]

activity is going to pick up in Q4 of this year, but it's not going to be back at what it was Q1 of 2020 for a while... 18-24 months from what I'm hearing. that's better than more rigs going down, but it's still going to be rough for a while.

[Radar]

Agreed but I’m just not seeing what will drive a Q4 ramp up

Neither do I, and this last virus outbreak will not help the oilfield in any way.

[TheHammer]

Lot of hedges running out in the coming months.

Will be an interesting next 2 quarters. Keeping our head above water for right now.

[txoutdoorsman24]

Agreed but I’m just not seeing what will drive a Q4 ramp up

Honestly I don’t either but I’ll take their word for it. One of my major customers is picking up rigs based solely on having to bring wells back on-line. They know they’re going to have issues with shut-in wells.

activity is going to pick up in Q4 of this year, but it's not going to be back at what it was Q1 of 2020 for a while... 18-24 months from what I'm hearing. that's better than more rigs going down, but it's still going to be rough for a while.

Exactly. Will be a slow ramp up. Definitely better than getting slower.

[SaltwaterSlick]

Somehow we are still hanging in there... When you ain't drillin' you don't need much pressure test eqiupment... We have other industries that are helping us out and keeping us at least treading water... The Lord has blessed us immensely. I took a pay cut, but so far have not had to lay anyone off. I have the greatest employees a company could have and I'll go down swinging before I give up on them or me.

[Trapper76]

I’m hearing of a few independent operators plan on picking u a rig or two. U.S. production is falling, and traffic seems to be picking up. Hopefully the supply/demand dynamic will equal out and we can get back to drilling.

[kyle1974]

Agreed but I’m just not seeing what will drive a Q4 ramp up

there's still a lot of acreage out there that requires wells to be drilled, or forfeit the lease. I think we'll see a bit of activity resume for lease holding measures if nothing else.

from what I've heard at least one major is predicting $150-$175/bbl oil in 2 years due to the dramatic shut down. The lack of demand fueled by this wuhonic plague BS is going to go away sooner or later, and when people start driving, flying, and going on cruise ships again, we will be several million barrels short per day.

[bphillips]

there's still a lot of acreage out there that requires wells to be drilled, or forfeit the lease. I think we'll see a bit of activity resume for lease holding measures if nothing else.

from what I've heard at least one major is predicting $150-$175/bbl oil in 2 years due to the dramatic shut down. The lack of demand fueled by this wuhonic plague BS is going to go away sooner or later, and when people start driving, flying, and going on cruise ships again, we will be several million barrels short per day.

Oil goes up that much we better cash in QUICK. Nothing would push renewables faster than that.

[kyle1974]

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

Oil goes up that much we better cash in QUICK. Nothing would push renewables faster than that.

That’s true regarding renewables. I know several years back there were many proponents of “green” energy saying $5/gallon gas was the best catalyst for new alternative energy companies to kick off.

But even if chevron is right, it would never stay at those levels for very long. All the idle rigs and frac fleets would spool back up and within a year we’d crash it again.

We’re really really good at cutting our own throat.

[bphillips]

That’s true regarding renewables. I know several years back there were many proponents of “green” energy saying $5/gallon gas was the best catalyst for new alternative energy companies to kick off.

But even if chevron is right, it would never stay at those levels for very long. All the idle rigs and frac fleets would spool back up and within a year we’d crash it again.

We’re really really good at cutting our own throat.

We sure are. Electric and hydrogen vehicles are coming now though no matter where the cost is. They are nearing mainstream now and any bit that helps them makes every recovery harder and harder. We definitely don’t want to peak any faster than expected.

[kyle1974]

Can’t we just say alternative energy colluded with russia and derail them for a few years? [emoji23]

[bphillips]

Can’t we just say alternative energy colluded with russia and derail them for a few years? [emoji23]

I like it haha

[MarkV]

Well I thought I got out by gthe thing in the trash business but looks like oilfield is the biggest users of porta cans and roll off dumpsters. So if y'all use those give me a shout and let me see if I can save y'all some money!

[JTRichardson]

Checking in on everybody here - drilling motor side is still terrible for us, lots of people have enough inventory to cover the jobs they have coming up, leaving us holding our... well you know...

Hope everyone is still hanging in there!