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Started By
Message
1
Posted on 8/16/19 at 8:35 am to Gray12
I’m in oil and gas. The pay is great and so is the work life balance. You just sound like a little bitch who’s not good at his job.
Posted on 8/16/19 at 8:38 am to Zissou
There's too many PM's with engineering degrees that don't know enough about the industry to put together a project
It sounds like this guy would fit right in
It sounds like this guy would fit right in
Posted on 8/16/19 at 8:42 am to Gray12
I assumed you moved to Houston? Otherwise, why did you go into O&G?
Transition into O&G Sales. plenty of opportunities.
But first, gain some perspective on the industry you have chosen to make a career. Because your statement could not be more wrong
Transition into O&G Sales. plenty of opportunities.
quote:
Oil and Gas still isn’t going anywhere but the opportunities have become very limited...
But first, gain some perspective on the industry you have chosen to make a career. Because your statement could not be more wrong
Posted on 8/16/19 at 8:43 am to Areddishfish
quote:Especially if he's working 3 weeks on at a time. He should be banking most of that
I can't tell if you are trolling now. Being single and netting $80k will have you living very well.
Posted on 8/16/19 at 8:46 am to Gray12
quote:
I’m making around 80k
That's pretty good for a mud logger!
Posted on 8/16/19 at 8:50 am to Gray12
quote:
I graduated in Petroleum Engineering
quote:
I’m trying to transition to other industries without going back to college.
quote:
Looking into Investment banking, computer science
Wtf.
What major bank is going to hire someone to an elevated position who's degree is in petroleum engineering?
Posted on 8/16/19 at 9:03 am to Gray12
quote:
No it’s not. That 100k + only happens when you work for an operating company like shell, Exxon. Only 10-15% of the graduating class out of 200 people get those jobs.
You should have put on a hard hat and not wasted your time in college.
100 grand is the floor for experienced people who can think.
Posted on 8/16/19 at 9:15 am to Gray12
I worked with a petroleum guy at Big Red. He got laid off so he went to PTech school and is an operator at ExxonBR. I know a few guys that transitioned to sales that are also doing well. They still make trips out to rigs but not nearly as frequently as they would as an engineer.
Posted on 8/16/19 at 9:17 am to cave canem
quote:
You should have put on a hard hat and not wasted your time in college.
quote:
100 grand is the floor for experienced people who can think.
meh, I'd still go the college route, $100k is rapidly becoming the new $50-60K
Posted on 8/16/19 at 9:28 am to Gray12
quote:
Gray12
Just so we understand. You want fast money, the ability to do drugs with no negative consequences, and not to have to work your way up over time?
Go start a cartel.
Posted on 8/16/19 at 9:33 am to JudgeHolden
quote:
Booms are not the norm. But booms will always happen. If you are positioned right, you can clean up in a boom. Like gambling, the key is knowing when to quit. A lot of people double down at the end of a boom. Shale wells are short cycle. If drilling slowed today on the Permian, there will be an oil shock in six months. Watch for a decline in permits, and get ready. It probably will not be a long boom, but it will happen. I personally think these “boomlets” are going to be the new US norm. Also consider overseas. Your shale skills in Nowhere, New Mexico will work in any other country that starts shale drilling. And that will happen.
You are right! Drilling Permits are down.
List of Drilling Permits in Texas. Also counts in eagle ford and Permian.
1992 - 13,664
1997 - 16,265
1999 - 9,893
2001 - 14,499
2003 - 14,752
2005 - 19,538
2007 - 23,886
2008 - 28,722
2009 - 15,832
2011 - 27,843
2014 - 30,031
2016 - 10,209
2017 - 15,528
2018 - 17,539
2019 - sitting at 10,113, looking at 15,000-16,000 at end of year
Texas Drilling Permit
This post was edited on 8/16/19 at 9:34 am
Posted on 8/16/19 at 9:34 am to mydadwillSueU
quote:
PE? Making no money? Go to the Permian Basin and you’ll make 100k easily. Hell you’ll make 40k just on perdiem. You are seriously full of shite and a puss. All you want is a kush 100k job in a good city handed to you. Do don’t belong in the oil field. What a clown. We run a guy like you off every week.
THIS. OP is either full of shite and a troll, a puss who doesn't want to leave the AC, or a fricking dumbass
Posted on 8/16/19 at 9:37 am to Gray12
Land in oil and gas down here will never be like it once was . Neverrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Posted on 8/16/19 at 9:41 am to Gray12
quote:
No it’s not. That 100k + only happens when you work for an operating company like shell, Exxon. Only 10-15% of the graduating class out of 200 people get those jobs. When you don’t get that, you are working for peanuts in the middle of nowhere for service companies hat makes places like Baltimore and north Baton Rouge feel like heaven.
Okay, I've got a friend considering petroleum engineering. What is the average starting pay?
Posted on 8/16/19 at 9:46 am to ragincajun77
quote:
Okay, I've got a friend considering petroleum engineering. What is the average starting pay?
Big Blue and Big Red (just matched Big Blue’s salary last month) = $72-75k
Baker Hughes and Weatherford (going bankrupt though) = $80-85k
Operating company = $90k - $110k
Keep in mind that 50% of graduates this year are still unemployed.
2014 was last great year, 2015 was garbage with offers being rescinded , 2016 was hell, 2017 was mediocre, 2018 was ok, 2019 is mediocre.
Of the 50% that find work in oil and gas, most of them end up working for big Blue and red.
This post was edited on 8/16/19 at 9:47 am
Posted on 8/16/19 at 9:48 am to Gray12
No degree and I make 100k+. But I spent years on the rigs instead of a classroom for diversity training
This post was edited on 8/16/19 at 9:49 am
Posted on 8/16/19 at 9:49 am to WildManGoose
I don't know why OP is getting shite on. Nothing he has said so far is inaccurate. Field engineering and the service industry in general is terrible. Low pay, high hours, and scant advancement opportunities are the norm. The turnover is ridiculous because of the working conditions. Service companies are the Dollar General of oilfield employers for engineers. OP's only strike is staying on for so long. I don't know any engineer worth a damn that's stayed at one longer than 4 years.
Posted on 8/16/19 at 9:49 am to Gray12
Curious how you think you can jump into something like investment banking when you have zero experience and a petroleum engineering degree
Posted on 8/16/19 at 9:51 am to Deactived
quote:
Curious how you think you can jump into something like investment banking when you have zero experience and a petroleum engineering degree
I’m not saying I can jump right into it. I’m asking what would I need to learn and do to be given an opportunity to do investment banking.
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