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OT spin off: future of driller and oil services companies
Posted on 7/7/17 at 9:46 pm
Posted on 7/7/17 at 9:46 pm
Obviously last two years have been bad. Amy reservations on a career in the industry? Corporate not on the field.
This post was edited on 7/7/17 at 9:53 pm
Posted on 7/7/17 at 10:12 pm to ghost2most
Unfortunately it does look pretty shitty but you might be able to get a job at a startup or something.
ETA What's your background?
ETA What's your background?
This post was edited on 7/7/17 at 10:13 pm
Posted on 7/7/17 at 10:21 pm to dkreller
I'm well established in my current role, but may have an opportunity for a raise with a similar job with an oil company. Again, I'd be in the corporate HQ. What I do has nothing to do with "oil" per se.
Just have a few reservations about the future of the industry as a whole.
Just have a few reservations about the future of the industry as a whole.
Posted on 7/7/17 at 10:24 pm to ghost2most
I would be very cautious, if its not for a major I probably wouldn't take it. Good chance oil dips into the 30s next yr. I left tge biggest service company about a yr ago to take something a little more and try and ride it out and see how things go. The service industry is going to be down for a good while, most companies are barely breaking even and that includes the big ones.
This post was edited on 7/7/17 at 10:34 pm
Posted on 7/7/17 at 10:33 pm to GREENHEAD22
Interesting. It's definitely a risk. The company I'm interested in is at least a little diversified so they've withstood the last few years.
Will just have to see if the compensation is worth the risk.
Again, what I do could be for any industry, so I was just curious if people were like, hell no, the future is doom and gloom for oil services or if people expect a rebound.
Will just have to see if the compensation is worth the risk.
Again, what I do could be for any industry, so I was just curious if people were like, hell no, the future is doom and gloom for oil services or if people expect a rebound.
Posted on 7/7/17 at 10:35 pm to ghost2most
Without a war in the Middle East I don't expect a significant rebound for at least 3 to 5 years.
Posted on 7/7/17 at 11:21 pm to GREENHEAD22
quote:
Without a war in the Middle East I don't expect a significant rebound for at least 3 to 5 years.
I'm not confident enough to say that but short term (6 months-18 months) it looks pretty damned awful.
If any of you baby boomers are retiring help me out with a job
Posted on 7/7/17 at 11:41 pm to FunroePete
3-5 is a little long, say 2-4.
Posted on 7/8/17 at 12:04 am to GREENHEAD22
Based on what? Supply still out stripping demand? What would cause that to change in a few years?
Less players because of bankruptcies, Mergers and acquisitions?
Just wondering what could turn the market around for the sevice companies.
Less players because of bankruptcies, Mergers and acquisitions?
Just wondering what could turn the market around for the sevice companies.
Posted on 7/8/17 at 12:13 am to ghost2most
quote:
Based on what? Supply still out stripping demand? What would cause that to change in a few years?
Less players because of bankruptcies, Mergers and acquisitions?
Just wondering what could turn the market around for the sevice companies.
Purely macro outlook
1) Deeper OPEC Cuts not likely
2) Oil inventories are crazy high
3) USA is now a prominent swing producer-5000+DUCS
4) Trump is offloading some oil on the market to help pay for whatever bill he's going to pass
5) Trump is planning on allowing for new leases on federal land
6) china demand/growth has slowed down
7) Qatar may flood the gas market if we keep provoking them
Some potential positives
1) Qatar and Iran mess that Trump is getting us into
2) A lot of bipartisan support for a carbon tax but Trump isn't for it(puts the nail in the coffin for coal)
I see the oil market as a purgatory or better yet a seesaw, production/supply cuts will be circumvented by US, Libya or Iran if not one of the other major players.
This post was edited on 7/8/17 at 12:15 am
Posted on 7/8/17 at 1:02 am to FunroePete
Pretty much spot on.
We have come to a point where no one can afford to cut production, there are literally whole countries at stake. Only thing that will balance it out is increased demand which I dont see rising drastically in the near future or a drastic unseen disruption in supply such as a war.
We have come to a point where no one can afford to cut production, there are literally whole countries at stake. Only thing that will balance it out is increased demand which I dont see rising drastically in the near future or a drastic unseen disruption in supply such as a war.
This post was edited on 7/8/17 at 1:03 am
Posted on 7/9/17 at 8:25 am to ghost2most
Volatility is why oil & gas professionals are paid so well. I say go for it; if you get laid off next year you can always go back to your non-oil job.
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