re: An oil field/oil price thread for the ODB

CNN & FoX News talking heads. Who knows if they are credible?

No idea man. UNO has been screwing me on class availability. A bunch I need are offered this semester. I have class today from 3-9 straight because I their class availability is so sporadic. I'm taking two others also. It's not ideal taking 5 intense ME classes in one semester, but I've got to do it to finish quickly.

After this semester, I only have 5 classes and 3 labs left, but you can take the EIT once you're a junior

My company does derrick barge work - anything involving platform installation/removal and rig/equipment set. We are getting hit hard. Oil companies are cutting out everything and not moving on anything new. We are doing other things still in the industry but looking to make moves on any form of work. We just installed an east cost wind farm
Thank god our construction division is top 150 largest in the country or I wouldn't feel too comfortable in O&G alone.

Drilling sales here.

Luckily, NWLA into NELA is fairly stacked with rigs at the moment due to operators that have hedged their production at a very profitable amount.

The downside is that the drilling companies are cutting costs left and right. Day rates to operators are being cut in half, they are price checking everrrrything, buying the cheapest shite, cutting me out although I have a superior product and service.

I was trying to get into marine engines, but that shite isn't happening any time soon

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Understood tigerfanatic1. I was just wondering if it was someone above him who might be in the know a little more than the rest of us. Our head consultant continues to laugh at my concerns and says "son, your fine, we're fine. IF this thing doesn't turn around in a yr then you can start to worry". That's the advice that I give my wife and I'm trying to lean on to stay positive.

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There is no doubt that we must remain optimistic, as pessimistic attitudes are contagious and when everyone only sees a failing outcome, most likely that is what they will produce. My advice is to become as efficient and valuable of an asset as you can. As bad as these times are for the oilfield, it forces us to slow down and focus on becoming more efficient even in the areas that seem small at $100+ oil.

I jumped into geothermal drilling in 2009. I'm pretty safe here but it's still a nervous feeling. One thing is for sure...I've got drilling vendors galore to choose from.

I signed an IA DC contract about 8 months ago. The contractor offered turn key rig moves and zero early termination penalties. I've never seen that before.

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There is no doubt that we must remain optimistic, as pessimistic attitudes are contagious and when everyone only sees a failing outcome, most likely that is what they will produce. My advice is to become as efficient and valuable of an asset as you can. As bad as these times are for the oilfield, it forces us to slow down and focus on becoming more efficient even in the areas that seem small at $100+ oil.

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Bingo. Make yourself valuable. This may mean going outside of your typical assigned duties.