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

[Baron Von Crowder]

Now tending on Google: Malthusian

[Ruffdaddy]

Price of oil exhibits heightened volatility largely because supply and demand are influenced by the same factors. Picture a p and q supply and demand model where the supply and demand curves are moving simultaneously. The p becomes extremely volatile.

When looking at supply, is it only based on current production, proven reserves, technical recoverables...or what?

Or does it depend on how far out you're looking?

[Strychnine]

Just got off the phone w/ a good friend who, at the moment, is selling oil field service equipment.

Their company was bought out by a NY investment firm a few yrs ago, got $100MM in the bank account, and they sell a shitload of frac heaters, hot oil trucks, etc, etc.

They are expecting to cut up to 65% of their workforce in the next 4-6 weeks, and their 2015 forecast (which was set in Oct 2014) has now been revised downward 75%. He recently spoke to the chairman of their board and he said they are not worried at all, and might be looking to buy up some other fledgling operations, but that doesn't help the 200 people that might get axed soon.




I should try to dig up a picture...
One day we were out on one of the wells he owns south of Odessa and a crew from Basic Energy was doing a workover job while we were about 100' from the wellhead shooting caliche rocks with a Mini-14. As much as this stress sucks and the volatility might put people in an early grave, there is something soothingly relaxing and American about the oil business. I do not see myself walking away from this industry for a very long time.

[SMKR]

Now tending on Google: Malthusian

not to be confused with trending

[Broncojohnny]

This mess is Malthusian.

The god damn germans don't have a thing to do with it

[YALE]

The god damn germans don't have a thing to do with it

Lol.

[KBScobravert]

My brother just went from 14/7 to 14/14 but at least he has a job. I am still waiting for my Haliburton start date.

[Ruffdaddy]

My brother just went from 14/7 to 14/14 but at least he has a job. I am still waiting for my Haliburton start date.

Best of luck! Have they indicated that it's all moving forward?

[KBScobravert]

Best of luck! Have they indicated that it's all moving forward?

Yes. Just waiting for background check that should have been back already. On Monday they indicated that I might be in the 19th start date.

[Rick Modena]

Yes. Just waiting for background check that should have been back already. On Monday they indicated that I might be in the 19th start date.

Good luck Keith, I hope they hire you on.

[93LXHORSE]

I was told by folks at my new job that since we are on the service end, we are not in trouble like the drilling and production side, and being an offshore service also helps tremendously. I don't know all the ins and outs of our business yet, but apparently in times like these alot of the rigs use times like this to take care of their service issues and upgrades / refurbs. Hopefully that's true!

[GrayStangGT]

I was told by folks at my new job that since we are on the service end, we are not in trouble like the drilling and production side, and being an offshore service also helps tremendously. I don't know all the ins and outs of our business yet, but apparently in times like these alot of the rigs use times like this to take care of their service issues and upgrades / refurbs. Hopefully that's true!

I'm sure offshore is a whole different game, but times like these rigs get stacked in the weeds until it comes back. For us most of the good money is in bringing new wells on so when the rigs stop turning there is still repair work, but none of the jobs with decent money.

[Ruffdaddy]

I was told by folks at my new job that since we are on the service end, we are not in trouble like the drilling and production side, and being an offshore service also helps tremendously. I don't know all the ins and outs of our business yet, but apparently in times like these alot of the rigs use times like this to take care of their service issues and upgrades / refurbs. Hopefully that's true!

Just to help you with terminology in the industry...a drilling company would be considered a service company as well. But I get your sentiment...and it's somewhat accurate. Some of the well and rig maintenence positions are less risky, but nothing is counted out.

When I was working in slickline technology...that was a pretty stable gig because it only worked with Wells that were already completed...those weren't going away like drilling rigs do. The places that really get hit are completions, drilling, perfing, fracking...anything working towards bringing new wells online.

Since saudI has alot of old Wells that require maintenence...there is a massive amount of work there.

[cobrajet69]

Was working at a frac pump manufacturer this week. They laid off 20% of their work force with more coming next week. Ouch

Care to share who that is?

PM if you want.

Thanks,


David

[Captain Crawfish]

Teknicals on black gold look to be trending north IMO