oilfield laying off

Its not paranoid or "chicken little" to look around and see whats happening in the industry. The price is down and will stay down for some time. The oil companies won't rock along like nothing is happening. The lay offs are happening in Texas, Co, N.Dakota as well as offshore. We might get a chance to continue to work but it will be at a much cheaper rate. The rates will drop and then the demurrage will disappear. In 2010 we got paid demurrage 24 hrs a day in N.D. Then as more trucks showed up it changed to 10 hrs a day maximum. Supply and Demand. Now the oil is cheap ,they will choke the wells down or shut them in, work what trucks they need at a much lower price until they don't need them. Its not mean its just business. Everyone in the industry needs to be planning on a plan b,c,d,e,f, and g.

 

The 3rd parties are gonna be the first to go.

 

Pretty much agrees with what I am seeing, Apache scaling back, Chevron going on about the same.

 

The Arabs know how to play the oil game. They know that fracking & oil sands cost more to produce. This story is far from over. The next few years are going to be fun or frustrating to watch depending on what side of the game you are on.

 

amen to that!

 

the thing about the oilfield if you can make it through the down times, you watch it and come in picking up the pieces, you can come out pretty good!! but if you come back in blowing your money like theres no end to it you will be in the same shape, time and time again!!! or you just cuss it and swear you will never do it again and MOVE ON!!!!!!!!!!!!!!!!!!!

 

That's what I have been saying for some time now, but most people want to continue on like nothing is wrong. I do feel sorry for the people who work for these big companies and fly-by-night finance everything companies. They'll be some of the 1st to be laid off. I especially feel bad for the people who packed up everything and left their old life just to come out to the oilfields to get rich. I hope everyone has saved some of that good money instead of using it to finance $60000 jacked up pickups and other trivial things

 

so glad hubby isnt in oilfield anymore....feel bad for those of you who are...hope you have a plan B

 

... don't feel bad for me.. as long as I'm making $1000 a week I'm good... right now I average 1800 so there is a lot of cushion room there.. and I don't have too worry about getting laid off.. until they shut the wells in.. and that's not ganna happen unless oil goes under $10