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Started By
Message
Just got hit with a 2nd round of company wide layoffs
Posted on 11/12/15 at 7:53 am
Posted on 11/12/15 at 7:53 am
I'm still good, but someone tell me that things are going to recover by the spring.
Please.
Please.
11
Posted on 11/12/15 at 7:58 am to Salmon
O&G? Buckle up, we are in for a long one.
Posted on 11/12/15 at 8:29 am to Salmon
We have had two rounds at my company (O/G). Gearing up for a third by the end of the year. Sucks.
Posted on 11/12/15 at 10:17 am to Salmon
quote:
but someone tell me that things are going to recover by the spring.
I wish I could. The last time I checked the Saudis and Russians have no plans to lower production. Add to that what's looking more and more like a certainty of embargoes against Iranian oil exports being lifted and even the current ISIS problems aren't looking to drive prices up for at least the next year.
This post was edited on 11/12/15 at 10:18 am
Posted on 11/12/15 at 11:28 am to Salmon
Sure wish I could but I just don't see it.
Six months ago I couldn't count the number of oil field related vehicles I'd encounter in North Texas. Now, if I see a handful I'm surprised.
Six months ago I couldn't count the number of oil field related vehicles I'd encounter in North Texas. Now, if I see a handful I'm surprised.
Posted on 11/12/15 at 6:13 pm to Salmon
Most of our big clients are in exploration. No relief in sight.
Posted on 11/12/15 at 8:38 pm to Salmon
ETX, NWLA, creeping into NELA will be kicking back off.
Exco shutting down south texas and bringing 10 rig package back to Haynesville.
Got a rig testing in the "Vernon Field" south of Arcadia and towards the Jonesboro Area. *This is where your exploration might come into play
Lincoln Parish is on fire with Memorial.
Vine (Encana reincarnate) bringing in a few more rigs to Red River Parish.
I would bet that we are sitting on the most active drilling area in the United States right now.
Exco shutting down south texas and bringing 10 rig package back to Haynesville.
Got a rig testing in the "Vernon Field" south of Arcadia and towards the Jonesboro Area. *This is where your exploration might come into play
Lincoln Parish is on fire with Memorial.
Vine (Encana reincarnate) bringing in a few more rigs to Red River Parish.
I would bet that we are sitting on the most active drilling area in the United States right now.
Posted on 11/12/15 at 9:11 pm to Salmon
Don't get your hopes up.
Did you get shown the door today, or were you given a final date?
Did you get shown the door today, or were you given a final date?
Posted on 11/13/15 at 11:37 am to Salmon
seeing a lot of the oilfield service sectors projections, most of them have it picking up at the end of 2016 in their "worst case" projections and in the middle of 2016 in their best case projections.
Posted on 11/16/15 at 10:43 am to Salmon
Not to hurt feelings, but if this is like the last in the 80s, from the high price in 2007 it will be ~20 yrs before a true oil bottom is in. We might get some bounces into the $60/bbl range on some geopolitical upheaval, but these bounces will be short lived IMO.
Posted on 11/16/15 at 11:49 am to Salmon
quote:
Just got hit with a 2nd round of company wide layoffs
Hang in there and prepare for the worst. I've been in that boat before.
Posted on 11/16/15 at 1:59 pm to Salmon
quote:
I'm still good, but someone tell me that things are going to recover by the spring.
Friends at Worley-Parsons issued the same look-ahead for 2016 that they did for 2015: UNCERTAINTY.
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