oilfield laying off

This is not paranoia. Sorry. If you work in the Texas oilfield, you need to be worried. My question to you is how many drivers has Sunoco hired since November? Being in denial will not make this go away. Oil is at $48/bbl. I'm not saying to freak out, but denying that there is a problem is asinine. I'm worried because I only have about 6 months in with my employer...and if driver layoffs happen, I'll be one of the First to go. People that came down here with nothing other than the clothes on their back won't get hurt too much. I, on the other hand, just bought a house 3 weeks ago and can't afford to lose my job. So I apologize if I seem like a negative Nancy, but I cannot just sit by while people say that everything is just peachy.


Here is another article written today.

http://secure.sanangelolive.com/new...nt-quiet-permian-basin-last-week#comment-form

28 rigs last week alone.

 

We haul frac sand for Texas Chrome, it has all but stopped this past week, its funny though we still have recruiters calling wanting us to swap companies claiming they have pre -paid for wells to drill until 2017. Seems hard times make the scammers have to work harder. We are all in the same puddle, some parts might be a little deeper than others but its all drying up!

 

i don't work with texas chrome but i work in south texas hauling sand... heading out monday for my next 14 days out... out to be interesting. i'm not really optimistic...

 

Luckily I am sure most of you guys have lots of tanker experience so I am sure you can switch to hauling fuel to gas stations and such. Make and save that money while you can and prepare an exit strategy just in case. I wanted to go off-shore and work on the rigs and drillships, but that's not going to happen now

 

Itll be $60-70 a bbl. Come summer, sit tight.

 

The question is how many outfits will go bankrupt before then?

 

Im not a crude oil expert but I do know a few things about the cost to extract oil. First of all, cost go down when people are willing to work for less (during a slowdown). More importantly, "lifting costs" are very different than "exploration costs". When you read that it costs $50 a Bbl to drill in Texas, that includes exploring, purchasing land, environmental impact studies, etc... The lifting cost in Texas right now is about $10 a Bbl. There is still plenty of profit in $45 oil. The downstream effects may not yet be known but given the fact that there is 10+ years worth of permits and found oil, we should not see a "collapse" in the industry anytime soon. The thing that WILL effect jobs is demand, we have a worldwide slowdown in consumption so worry about that, not the price of oil. http://www.eia.gov/tools/faqs/faq.cfm?id=367&t=6

 

Is really a slowdown or saturation of the market?

 

Well radio said about a third of the rigs will be parked. 650ish nation wide

 

Theyre fixin to all be i would think,