oilfield to ramp up hiring again?

Ozona looks abandoned...see iron but no activity. BL looks very quite. 5 or 6 WO rigs neatly tucked against fence, a line of pickups that doesn't move......

I do still see an occasional vac truck milling around and there's nothing wrong with their billing except it's very slow. I just paid an invoice from March for a hydro test. ( Processed ) Now being said, they may not get paid for that either.....Submitting an invoice in Aug for March work is going to get caught in accounting. It's outside of the MSA terms of agreement.

 

Did you catch any names on those sand trucks?

 

Sadly, I did not. I should be back in that area in a week or two. I'll make it a point to do that. The trailers were unmarked, and I didn't look at the name on the door of the tractors.

 

Oh yeah Ozona is VERY quiet, a little bit of action over Pandale Rd , but that's about it.
Barnhart is back to being a ghost town. From the look of it, I think Pumpco left town... nobody at all in the yard for cple weeks, no dumpster, no equipment , no admin, NOTHING... Ressource get a little bit of activity , but they are problably going to NM. Even thouhg EP just drilled a few holes and built new CPF on the Uni Lease 7
Big Lake have a bit of sand activity and couple water truck , but they are mostly towards 137 /33 /1357 area

 

Or the U.S. is screwing with OPEC oil production. Surely, that is how they see it; why not?
Everyone one was producing as fast as they could without regard to supply and demand. The only thing that slowed down was drilling. Have things changed recently?

 

OPEC and Russia have both talked about cutting production. The United States doesn't want to. OPEC and Russia aren't going to cut production unless we will. Everyone thinks that they can drive the other out of business. It's just a race to the bottom.

 

The US is not capable of cutting oil production because our oil production is not controlled by a state run cartel. We are a free market system and each oil producer is responsible for making its own profit driven decisions. OPEC made a decision to increase production during the downturn to push shale oil producers out of business. To a large extent it worked but they underestimated the resiliency of the remaining producers and also miscalculated how low prices would go and how long it would take oil prices to rebalance.

 

US oil companies are capable of cutting production if they want to. They're betting that they can out last the oversupply in the market. Most of them won't.

 

Clearly you missed my point. Yes, individual US oil companies are capable of changing production if they decide to do so. However, the US as a whole can not control production because there is no governing body that controls the myriad oil companies operating here. OPEC and Russia have the ability to greatly control output because the former is a cartel and the latter is a state run oil conglomerate. Therefore, when you state that the US doesn't want to cut production you are making a non-sensical statement because US production consists of dozens of individual companies making independent decisions based on their individual best interests. If all the US oil producers got together and tried to control production they would be breaking the law.

 

The Wysox crew were breaking down a Frack site. I hauled a sand chief from that location to eastern Ohio.