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Started By
Message
An oil field/oil price thread for the ODB
Posted on 1/12/16 at 10:51 am
Posted on 1/12/16 at 10:51 am
The threads started in the OT have all resulted in shite shows. The ODB is my favorite, and is by far the best place to come for a good discussion, great info, and men who depend on the industry to support their families. Sooooo baws, wtf is going to happen to us?! Any word? I'm not going to sit here and act like I've got 100k saved and I'm just waiting on prices to go up. I'm making it but I've got 2 kids to take care of and its starting to scare me.
14
Posted on 1/12/16 at 10:57 am to JJBTiger2012
I feel ya man, I jumped overboard in 85. I made it through 2 downs, couldn't handle a 3rd. Its gotta go up, that's a certain, "when" is the problem. 
Posted on 1/12/16 at 11:00 am to JJBTiger2012
I got out of it for the same reason you are asking right now which is the unknown. I have heard it will be a two year climb with not a ton of money for companies to spare. I have also been told that bottom is still nowhere close. Have not heard any good news yet.
Posted on 1/12/16 at 11:01 am to JJBTiger2012
Not sure what end of the industry you are on ,but I'm on or was on the drilling end. To be honest, I'm looking for a new career path as the oil and gas industry isn't looking to good for the near future. If you are in production then you may be able to hold on, otherwise bail out on all hope and find something new to do with more job security. Just my thoughts. I don't mean to kill any hope that you may have, just telling you like I see it.
Posted on 1/12/16 at 11:03 am to JJBTiger2012
Doesn't seem like good news is coming anytime soon
I don't work for O&G directly, but as a consultant, and clients are keeping everything in-house right now.
We had lay offs in the fall. Not sure if we are anticipating more lay offs this spring.
I was told I was safe last time, but I'm still sweating. Told the wife not to plan any vacations or home improvement jobs this year. Just hoarding any extra money.
Good luck, gents.
I don't work for O&G directly, but as a consultant, and clients are keeping everything in-house right now.
We had lay offs in the fall. Not sure if we are anticipating more lay offs this spring.
I was told I was safe last time, but I'm still sweating. Told the wife not to plan any vacations or home improvement jobs this year. Just hoarding any extra money.
Good luck, gents.
Posted on 1/12/16 at 11:06 am to Salmon
Yeah I'm getting kind of nervous. Looking to work in same stuff as you.
Posted on 1/12/16 at 11:09 am to jimbeam
Well there is still work in midstream and downstream.
Just we relied on a lot of permitting work associated with drilling, and well, drilling has all but shut down.
Trying to get into new areas right now. I have been doing a lot of ESAs, specifically with big companies buying little companies.
Just we relied on a lot of permitting work associated with drilling, and well, drilling has all but shut down.
Trying to get into new areas right now. I have been doing a lot of ESAs, specifically with big companies buying little companies.
Posted on 1/12/16 at 11:11 am to Salmon
Towing industry looking pretty weak as well with lots of equipment being tied up mostly OSV and large tugs but even the inland barge pushers are feeling some squeeze now. The phone hasn't rang in a long time about a new vessel build.
Posted on 1/12/16 at 11:12 am to jimbeam
Just read a CNN story that says OPEC will call an emergency meeting this month to discuss curbing production. The Saudis are in a cash crunch and feeling the pain. Analysts still aren't predicting a turn around till 2017 at the earliest. Looks like 2016 will suck and maybe 2017 too. Buckle up its gonna be a long shitty ride I'm afraid.
Posted on 1/12/16 at 11:12 am to Salmon
Got a year and a half left in Petroleum Engineering
Hopefully it will be back up by then
Hopefully it will be back up by then
This post was edited on 1/12/16 at 11:13 am
Posted on 1/12/16 at 11:13 am to reds on reds on reds
quote:
Got a year and a half left in Petroleum Engineering
perhaps think about getting a masters...?
Posted on 1/12/16 at 11:14 am to tigerinthebueche
Posted on 1/12/16 at 11:14 am to reds on reds on reds
quote:
Got a year and a half left in Petroleum Engineering
You will probably be coming out as things start to think of rising. Good think is that your degree will probably protect you to an extent, you just may not make the money you intend to make right away.
Posted on 1/12/16 at 11:15 am to JJBTiger2012
Has made it much harder for me to find a ME internship. Got let go (along with 150 other people) from my uncle's company. He's opening up a couple of shops out of the country, and the people on the chopping block who didn't want to move got the boot
quote:That market is so unstable long-term, it wasn't a wise choice. My dad does accounting/auditing for a lot of small to mid-level O&G companies, and he's making a killing right now because they're all trying to cut costs anywhere they can
reds on reds on reds
This post was edited on 1/12/16 at 11:19 am
Posted on 1/12/16 at 11:17 am to reds on reds on reds
quote:
Petroleum Engineering
You will be fine. Just don't be dead set on a Oil and Gas related job right out the gate. It will come.
Posted on 1/12/16 at 11:27 am to JJBTiger2012
I'm on the consulting side and everything we're hearing is that '16 is going to be a rough ride. Thankfully I just passed the PE and that may give me a few more months, but if things continue the way they are I'll be worried about my job in 6 months.
Posted on 1/12/16 at 11:30 am to ForeverLSU02
Can't you take other PE tests?
Posted on 1/12/16 at 11:31 am to Salmon
quote:
perhaps think about getting a masters...?
It's crossed my mind a couple times.
Posted on 1/12/16 at 11:32 am to reds on reds on reds
If you get your masters just to buy time you're going to hate yourself. Trust me. Especially if you're paying for it yourself.
Posted on 1/12/16 at 11:32 am to reds on reds on reds
quote:
It's crossed my mind a couple times.
It wouldn't hurt anything. You would be avoiding entering into a poor job market and when you are done you would be more desirable and possibly be coming back in at the right time with a masters so you would have a lot of doors opened up to you.
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