oilfield laying off

Basic Energy in Crane lowered hourly rates by 10%. Confirmed by three drivers.

 

Benn, the cut on rates is region wide. about $2 down on the hour.
also they dont match the 401K until further notice

 

That STINKS cut throats out here in N.D. too! Once they cut hard to get rates back up, lota guys will go broke working cheap!

 

A CBC Sunday morning show, "The House," mentioned housing prices are dropping like a rock in Calgary AB. The mayor of Calgary is worried about tax revenues not being sufficient to cover the budget.

Looks like the boom has gone bust for now.

 

Housing prices haven't budged here and I've been told they'll be the last thing to drop.

 

Because people are locked in on financing, mortgages and can't load it onto the back of a truck like the Beverly Hillbillies and head back to Oklahoma... or where ever they came from!!

 

Im in Odessa Texas & our company J & M tankers sent out an ad in JANUARY 2015 "DRIVERS GUARANTEED PAY $1750 WKLY", then after a group of us have "taken the bait", three weeks later, they've dropped our pay to $1000 gtd weekly AND NO DAYS OFF (was promised 7/2).
Bottom line is there is such thing as 'BOTTOM'... lol. We are all taking a hard hit. I think it's important that we all begin to share info of who's keeping they're promises & who's not!!!
I'm being told that being an O/O is the way to go, anyone got a take on that???

 

Our 0 to 50 loaded rate has been cut from $550 down to $350 hauling sand. Still get 2 sometimes 3 in a 24 hour period as long as the well is going. For whatever reason they seem to be down more often these days.

 

I work for Basic Energy Services in Wyoming. In the last month all of our construction crews were laid off, salary guys took a 10% pay cut, and yesterday us water haulers took a paycut of 5 cents on the dollar. They also took away the company matching 401k. Were being told our jobs are going nowhere, but until oil prices come back up we have to make cuts. BTW, BP laid off about half of there workforce in the beginning of January. As of now were still getting a day rate. If that goes away its gonna be hard for many of us drivers to stay here and work. About 95% of us all live outside of Wyoming.

 

Last thing I would want to be in the patch right now is an owner operator. Just think about that for a moment, if you have company equipment and o/o equipment, which one are you going to use first? I would use the stuff I am paying for, let the contractor sit and sweat it out, plus the o/o is not immune to rate cuts, you will feel it harder than the hourly worker who has his rate or total hours cut, your bills are not going anywhere as an o/o, that truck payment still has to be made!