oilfield laying off

there was an article on cnbc.com not too long ago. about 2 banks losing 530 million because 3 facing companies were closing shop. they needed $58 just to break even.

 

Almost right next door to us!

 

530 million in the oil biz is like 100 bucks to you and me... it's nothing to the oil industry. . Yea some companies will go under..and most of the fracking job will finish up and they will stop fracking new wells along with the thousand's of old wells they were planning on fracking. ..as a frac job is about 2 million $.. it takes $60 a barrel to make a profit on a fracked well. . But they will not shut in the wells witch are already producing.. thats like u having a machine plugged into the wall the prints out 100 dollar bills.. are u going to unplug it because it only prints 900 dollars a hour instead of 1000.. there is so much oil out here to be moved.. u couldn't even imagine.. we put on average 180 barrels of oil on a truck at one time and transport it to the pipeline.. just my company alone moves over a million barrels a day and we are still behind

 

If they choke back the wells even crude haulers will suffer. EOG isn't choking back yet but are putting wells on timers that don't produce much to let pressure build up.

 

Here too. Third party for Plains in Big Lake. Pulling University leases to McCamey.

 

Service work sucks! No hours and your just and oilfield janitor! I'm outa here Sunday and back OTR till things get back to normal.

 

Thats good pay if you are a L/O, but if you are a Co. Driver.... that would be VERY good $$

 

Around my parts Lease operators average 1700-2k daily.

 

I need to move .... where?

 

West Texas.