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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 8:02 am to GREENHEAD22
consulting with mostly O&G clients, specifically on the exploration side
so yeah...we are getting hit hard
so yeah...we are getting hit hard
Posted on 11/12/15 at 8:10 am to Salmon
quote:
consulting with mostly O&G clients, specifically on the exploration side
I thought I remembered you saying that you were going to be good with low prices. Sorry to hear about more layoffs. I know you are in NWLA. You work for one of the local companies up here?
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 8:33 am to stevengtiger
quote:
I thought I remembered you saying that you were going to be good with low prices.
I'm still good because I have a more diverse background and can do other things besides O&G. Others are not so lucky.
quote:
You work for one of the local companies up here?
My company has 4 offices. Main HQ is in Baton Rouge.
Other offices are doing ok with refinery work. Just up here, everything was based on exploration and now that has come to a stop.
Posted on 11/12/15 at 8:37 am to Salmon
I think the only companies that have not laid off anyone are ExxonMobil and Anadarko.
Posted on 11/12/15 at 8:49 am to Salmon
quote:
Other offices are doing ok with refinery work. Just up here, everything was based on exploration and now that has come to a stop.
Got it. My dad is on the investment side and works with several local companies. They are all pretty much at a standstill. I know of one that has actually been doing some construction work to help bring in some money.
Posted on 11/12/15 at 9:09 am to abitabrewed4LSU
Anadarko is coming. Lucky to be in DW, we are busy as hell and booked until Q2 of next year.
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 10:28 am to GREENHEAD22
you're with Anadarko now?
Posted on 11/12/15 at 10:42 am to Salmon
shite man don't tell me that. I'm gonna be asking you for a job in a few months 
Posted on 11/12/15 at 10:58 am to b-rab2
No, I have a connection there and was suppose to start lining things up for this quarter but that was before the downturn was looking so bad. Currently overseas so havent been able to talk to him but he has contacted me and we are suppose to get together when I get back stateside. Keeping fingers crossed because need to make a change.
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 12:01 pm to GREENHEAD22
quote:
No, I have a connection there and was suppose to start lining things up for this quarter but that was before the downturn was looking so bad.
The companies I work with have their fingers crossed for a 2017 turn.
Posted on 11/12/15 at 12:35 pm to Mr.Perfect
Everybody thought that this October would be a bloodbath with public E & P's getting redetermined but the banks kicked the can down the road. If these price levels hold April could be when we start seeing major asset sales and the bleeding starts to be much more noticeable. While the operators have seen a fair amount of layoffs the service companies have been gutted.
Posted on 11/12/15 at 1:22 pm to TigerDog83
quote:
If these price levels hold April could be when we start seeing major asset sales
well this might actually help me
every time someone sells or buys assets, they hire environmental guys (me) to assess the properties
This post was edited on 11/12/15 at 1:24 pm
Posted on 11/12/15 at 1:48 pm to TigerDog83
May not be as big a bloodbath, but there will still be a bloodletting. The only redeterminations that you've heard about were from the companies that weren't in a terrible situation. The banks are still negotiating with the companies that have their backs against the wall.
Posted on 11/12/15 at 1:52 pm to Salmon
I think I heard XCO just had another round of layoffs in the last week or so that affected people in NWLA.
Posted on 11/12/15 at 2:02 pm to saw36
quote:
May not be as big a bloodbath, but there will still be a bloodletting. The only redeterminations that you've heard about were from the companies that weren't in a terrible situation. The banks are still negotiating with the companies that have their backs against the wall.
There's no doubt a lot of companies probably won't be in business much longer. I would list XCO, Magnum Hunter, Penn Virginia, and Goodrich among others who are in major trouble. Halcon and Sandridge can't be too far behind, and there are a pile of others who are behind the eight ball.
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