And there was much rejoicing in the land.... Gas Prices

[GrayStangGT]

US

[GrayStangGT]

My area is bare. They cancelled all drilling contracts on the lease my compressors set on. All of my units are south of Garden City off of highway 33. Traffic has thinned out a lot on 33, 67, 158, and 87. Care to explain why?

I've talked with several people that say the closer you get towards Barnhart the less profitable the wells are. So far our main customers who are drilling around Penwell and Big Spring haven't slowed down yet. I heard Apache was cutting their rigs in half.

[Ruffdaddy]

Global or US?

You been tracking permits at all?

[Strychnine]

You been tracking permits at all?

Yeah. In a mtg now, will type more later, but they are down. Expect rig counts to follow in 60-90 days.

[Denny]

You been tracking permits at all?

They were down about 50% last month from what I read.

[JC316]

Trust me everyone out there works for those insane salaries, you are obviously an idiot, and should just stop speaking of things you know nothing about.

I know they work for those salaries, I've worked in that field before and I completely hated it. I'm guessing the wells magically drilled themselves back in the 90's? I mean, gas and oil was cheap at that time, so obviously no one would work in that industry.

Now you're just starting to sound bitter that they make more than you. I could be wrong, just my perception.

Someone smarter than I can give more insight, but it boils down to there being more supply than demand. And OPEC is basically driving prices down, to get the US to stop drilling.

Nope, I've quit several high paying jobs to follow my own dreams. I don't like the fact that these O&G workers think that everyone else should suffer just so they can continue to have their high paying jobs. It's easy to sit back and say that everything is all good with high prices when you are cashing in on it and have the money

Most members on here scream about how the free market should be dictating prices. Supply is up, demand is down, gasoline should fall.

[Broncojohnny]

WTI just went under $60.

[Baron Von Crowder]

Dang ol low oil prices broke the board.

[A_A_G]

I honestly thought we'd never see gas under $3/gal. I'm going to enjoy it, but still continue to conserve as much as possible.

[Ruffdaddy]

I think a lot of us are saying that we want a reasonable and stable price ..which will never happen but would be nice.

Oil wells aren't like they were in the 90s.

I will say that I don't make near the 250-300 that a field worker makes, and maybe that's the correction that jc316 wants to see. If I went back to the defense industy my salary would remain relatively the same. The rapid pace of development in o&g just helped me learn at a faster rate to move up quickly so I'm at least thankful for that.

We're also saying that low prices are temporary...causing a bunch of layoffs and defaults is not a thinthing to rejoice when it'll ramp right back up. Not to mention all the people buying gas guzzlers they won't be able to afford in a year.

[Kart21]

As seen in a Graham Tx. store window in in 1988.

"Dear Lord, please let there be another oil boom. I promise not to piss it all away next time "

Just sayin'

[GrayStangGT]

Not everyone in the oil field makes 250k, in fact I would venture to say that the majority of the people in the oil field don't. Most are probably in the 75-150k range. Now if you want to sit on a rig for weeks at a time or work crazy hours than yea you can make lots of money with no education.

[jw33]

Obama is killing the economy with these low gasoline prices.....

[slostang281]

Not everyone in the oil field makes 250k, in fact I would venture to say that the majority of the people in the oil field don't. Most are probably in the 75-150k range. Now if you want to sit on a rig for weeks at a time or work crazy hours than yea you can make lots of money with no education.

Most people don't even make the 75K a year in the field, most make 35-65K a year unless you're on the production side or higher up.

[Broncojohnny]

Most people don't even make the 75K a year in the field, most make 35-65K a year unless you're on the production side or higher up.

Damn, you can make a lot better as an autoworker and be home at night.