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Started By
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re: More layoffs, bankruptcies hit La. oil industry
Posted on 6/24/20 at 9:16 pm to Sun God
Posted on 6/24/20 at 9:16 pm to Sun God
quote:that sounds atrocious. Tough, expensive puppies. Especially completions.
Believe it or not I’ve gotten some calls about some companies looking to drill wells in the TMS again.
0
Posted on 6/24/20 at 9:17 pm to Sun God
quote:
Believe it or not I’ve gotten some calls about some companies looking to drill wells in the TMS again.
I know a few companies were looking at doing projects there this year but I would be really surprised if they carried through with those plans. The TMS is a deep play and not profitable at under $100/bbl oil. Unless maybe they are looking ahead to a supply shortage and picking up cheap leases. Seems like a big gamble to me.
Posted on 6/24/20 at 9:21 pm to redstick13
From what I’ve heard it’s a combo of cheap leases and some new ideas about how to make the wells much cheaper. A ton of the money in those wells drilled 5-6 years ago was due to hole and completion issues.
An operator tried a couple years of ago to do it on the cheap and it was a disaster.
Definitely risky but I’d take the couple months (at least) work
An operator tried a couple years of ago to do it on the cheap and it was a disaster.
Definitely risky but I’d take the couple months (at least) work
This post was edited on 6/24/20 at 9:23 pm
Posted on 6/24/20 at 9:24 pm to Sun God
I have some TMS experience from years ago but I'll happily put it on my resume and figure it out on the fly for a few months pay. You aren't drilling those wells in 14 days.
Posted on 6/24/20 at 9:25 pm to Sun God
quote:those hole and completion issues haven’t gone away. What new technology that exists now that did not exist 5 years ago would be able to combat the challenges without massive cost increases. Sounds like a good PowerPoint for investors but ouch.
A ton of the money in those wells drilled 5-6 years ago was due to hole and completion issues.
Posted on 6/24/20 at 9:36 pm to Nephropidae
I definitely agree with you. But like you said every couple years some upstart gets a wild hair to try and do the impossible
This post was edited on 6/24/20 at 9:45 pm
Posted on 6/24/20 at 9:44 pm to yellowfin
quote:
O&G is done in Louisiana
Gonna be a buyers market in River Ranch and the entire Lafayette metro. Nice houses are gonna go cheap.
Posted on 6/24/20 at 9:47 pm to TigerNlc
8 yrs here as well, never been laid off but took my 3rd pay cut a couple months back. I'm done, getting out while I am still young enough to switch industries. There maybe o e more quick runup but the industry is done for the most part. It's in its twilight with a gradual 20-30 or so year decline in its future.
Posted on 6/24/20 at 9:50 pm to tigerinthebueche
quote:
Gonna be a buyers market in River Ranch and the entire Lafayette metro. Nice houses are gonna go cheap.
Not for a while it at all. Most of the people are older and probably already paid their house off. Plus there are random people living there that made there money other ways. Today I’m my run I crossed the actor that played one of the doctors in Nip Tuck. There’s some random people that own houses there that you wouldn’t expect.
This post was edited on 6/24/20 at 9:53 pm
Posted on 6/24/20 at 9:52 pm to Sun God
During the natural gas boom Encana started a drilling campaign in Washington state. The worst rigs I've ever seen that stayed broken down and some of the toughest rock as well. We had to drill through a layer of basalt using turbines and diamond (not PDC) bits. 2,000 or so bit RPM with a parasite string. Cool stuff. Once we got down below that it was button bits and slow grinding drilling. We tried some PDC bits and wiped them all out in less than 12 hours.
I spent 2 months making lead DD wages to fish and hit up wineries and maybe take 1 survey a day. Those were good times.
I spent 2 months making lead DD wages to fish and hit up wineries and maybe take 1 survey a day. Those were good times.
Posted on 6/24/20 at 10:01 pm to redstick13
That sounds like my time in California. Pismo Beach was only about an hour away.
Those turbines will make absolute slag out of almost any bit. Hard to fish out too
Those turbines will make absolute slag out of almost any bit. Hard to fish out too
Posted on 6/24/20 at 10:03 pm to GREENHEAD22
The shale boom was one of the worst things to happen for O&G workers in the US. It introduced factory drilling and made what was valuable and learned skills into something that omly required repetition and not nearly as much thought to make possible.
Posted on 6/24/20 at 10:04 pm to Sun God
I did some work in Cat Canyon in 2012. Passive ranging work. They put me in Santa Maria but I was spending most of my time in SLO and Morro Bay. Another good gig.
If you and greenhead ever want to talk offline I can be reached at otoutreach@gmail
If you and greenhead ever want to talk offline I can be reached at otoutreach@gmail
This post was edited on 6/24/20 at 10:08 pm
Posted on 6/24/20 at 10:11 pm to redstick13
Only passed through Morro Bay and Obispo.
Long Beach was also nice but we stayed busy there. Our shared housing was basically like Real World: O&G
ETA: bookmarked
Long Beach was also nice but we stayed busy there. Our shared housing was basically like Real World: O&G
ETA: bookmarked
This post was edited on 6/24/20 at 10:12 pm
Posted on 6/24/20 at 10:23 pm to tigerinthebueche
quote:
O&G is done in Louisiana
Gonna be a buyers market in River Ranch and the entire Lafayette metro. Nice houses are gonna go cheap.
You would think so, but the 2014-2015 slump didn’t have much of effect on housing prices around lafayette. That said this slump will probably end up Much worse, so who knows. I was in the market right before the covid breakout, but decided to sit it out for a little while and let the chips fall
Posted on 6/24/20 at 10:45 pm to volod
I’m not happy people are losing their jobs but I’ve been to a few oil conferences and there are some smug SOB that are at the top of these organizations. The roughnecks and other blue collar people don’t deserve this. The white collar people should lose their asses and I don’t mind it.
Posted on 6/24/20 at 10:51 pm to jennyjones
quote:
River Ranch
How’s it looking these days? I know some of those homes were built in the early 2000’s and coming up on 20 years.
Posted on 6/24/20 at 11:00 pm to redstick13
quote:
The shale boom was one of the worst things to happen for O&G workers in the US.
Oil based mud & the technology improvements on downhole tools made everyone lazy.
Posted on 6/24/20 at 11:44 pm to Paul Allen
quote:
I How’s it looking these days? I know some of those homes were built in the early 2000’s and coming up on 20 years.
Still the best looking part of Lafayette. There’s a few houses on the market but not that many. Still building houses.
Posted on 6/25/20 at 1:01 am to Paul Allen
quote:If you live in River Ranch, you can afford extensive and up to date renovations.
I know some of those homes were built in the early 2000’s and coming up on 20 years.
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