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Started By
Message
Falling Oil Prices
Posted on 12/12/14 at 10:08 am
Posted on 12/12/14 at 10:08 am
Any of you Houston boys starting to see layoffs coming? Have a few buddy's of mine at smaller shops starting to feel the heat. I know the big boys can afford to deficit drill but how about you guys at smaller companies?
20
Posted on 12/12/14 at 10:10 am to LSU5508
im not in oil field but i know several who have been laid off. And another company looking to lay off 25 more next week
Posted on 12/12/14 at 10:10 am to oleyeller
but..but...peak oil
Posted on 12/12/14 at 10:11 am to LSU5508
I work at a large O&G service company in Houston and even they are squirming a lot. 
Posted on 12/12/14 at 10:12 am to LSU5508
Not Houston but have been hearing rumblings of offshore deep water starting to slow. All that fracking oil starting to make prices drop. The inland towboat market is booming though with the extra need for barges to move all the product from up north. I think Hercules is planning over 300 layoffs after the first of the year.
Posted on 12/12/14 at 10:13 am to LSU5508
Tons of layoffs around lafayette for the little service companies.
Posted on 12/12/14 at 10:15 am to KingRanch
Well, that sucks.
Damn oilfield never changes.
Damn oilfield never changes.
Posted on 12/12/14 at 10:15 am to Ducyborg
quote:yet still bringing in millions ins profits.
I work at a large O&G service company in Houston and even they are squirming a lot.
Posted on 12/12/14 at 10:16 am to bayoudude
Saudis keeping production at 40 million is the driving force. They are pissed off at Russia and Syria so this is their play. Lots of innocents will be caught in the crossfire though.
Posted on 12/12/14 at 10:16 am to LSU5508
We're doing ok so far, but we're a bigger company. I'm hearing rumblings that I will have to fly coach for a few months so I'm pretty lucky I guess. I feel for the smaller companies that are going to feel it hard.
Posted on 12/12/14 at 10:17 am to Placebeaux
Don't let 'em shite you. They are trying to undermine domestic production here as well.
Posted on 12/12/14 at 10:17 am to Placebeaux
quote:
Saudis keeping production at 40 million is the driving force.
Interesting. I haven't read up much on the foreign oil situation.
Posted on 12/12/14 at 10:17 am to VetteGuy
quote:
Damn oilfield never changes.
Its constant. Saw this bumper sticker in Shreveport back in the 90s:
Please Lord let oil come back, I promise not to piss my money off this time.
Posted on 12/12/14 at 10:18 am to bayoudude
OPEC meeting in November is what started the drop.
Posted on 12/12/14 at 10:18 am to htownjeep
quote:
I'm hearing rumblings that I will have to fly coach for a few months so I'm pretty lucky I guess
You primadonna
Posted on 12/12/14 at 10:18 am to VetteGuy
Bunch of companies offshore have been cancelling their projects along with laying off employers.
Posted on 12/12/14 at 10:18 am to LSU5508
Drill Baby Drill right? La has too many eggs in one basket IMO
Posted on 12/12/14 at 10:19 am to VetteGuy
Yeah probably so
Posted on 12/12/14 at 10:19 am to Placebeaux
quote:
Saudis keeping production at 40 million is the driving force.
My biggest client is Aramco. Just got two of the biggest orders I've received in 5 yrs.
Posted on 12/12/14 at 10:20 am to idlewatcher
quote:
You primadonna
Pot meet kettle
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