oilfield laying off

It's awesome.... our third party trucks are thinning out to... less time waiting at pipeline unload stations...

 

eeeeekkkkkkkk NO WAY....really ???? how come we havent had coffee yet ???

 

I am not holding my breath. It's not in their best interest to cut production.

 

Didn't say the boy was...just that he's trying to cut production and push prices up. And yes...that's what was said.....but there are experts worldwide that have been waiting for the king to pass so production would be cut and prices would rise including many in my own camp.

The current call is $60 oil very shortly. One can only hope they are right.........

 

Maybe there's hope! It's well known the King of Saudi Arabia was intent on bankrupting the American fracking companies. Well, he died yesterday and just before his death he appointed his half-brother to replace him. There's a problem already, the half-brother has Alzheimers & and here's an excerpt from "Middle East Eye" news:

"Salman's state of health is cause for concern, which is why the power he has given his son is more significant than other appointments announced. Aged 79, Salman is known to have Alzheimers, but the exact state of his dementia is a source of speculation. He is known to have held cogent conversations as recently as last October. But he can also forget what he said minutes ago, or faces he has known all his life, according to other witnesses. This is typical of the disease. I understand the number of hospital visits in the last few months has increased, and that he did not walk around, as he did before.
So his ability to steer the ship of state, in a centralized country where no institutions, political parties or even national politics exist, is open to question. But one indication of a change of direction may lie in two attempts recently to establish links with Egyptian opposition figures."

 

Who would frac the wells in the KSA if the American frac companies went bankrupt? Schlumberger?

 

10-4

I hope they drive better down there than they do up here..

 

U.S. crude oil pipeline projects: Kinder Morgan acquiring Hiland Crude

Wed Jan 21, 2015 6:12pm EST
(Reuters) - Oil pipelines in the United States are undergoing a historic realignment in response to new production in the Eagle Ford development in south-central Texas, redevelopment of older production in the Permian Basin, and new flows of oil from the Midwest and Canada that have oversupplied Midwest markets.

Kinder Morgan Inc (KMI.N) on Wednesday announced plans to buy Hiland Partners, a pipeline and logistics company founded by Continental Resources Inc (CLR.N) Chief Executive Officer Harold Hamm, for $3 billion including debt. The deal is expected to close during the first quarter.

The deal gives Kinder Morgan its entrance into North Dakota's Bakken shale. Hiland's assets include its new 84,000 barrels per day Double H pipeline, which is slated to start moving Bakken crude to Wyoming by the end of January. There the Double H connects to Tallgrass Energy Partners' (TEP.N) Pony Express pipeline, which moves crude to the U.S. oil futures hub in Cushing, Oklahoma.

Also Thursday, Sunoco Logistics Partners announced the successful closure of its binding open season for its 100,000 bpd Delaware Basin extension project in the far west part of the Permian Basin in Texas and New Mexico.

Here an updated list of 81 projects:

There are still plenty of oilfield jobs out there the list of projects is a heads up to where the business is going....

 

Big problem with the half brother; he has Alzheimers and has put his son in position to replace him when the time comes. Source : Middle East Eye

 

We now have near parody between WTI and Brent. If WTI is the same price as Brent, it makes no sense to ship cheap low grade WTI to Europe and Asia when they can buy higher quality Brent locally (in Europe) for less money.