"E90M3" (e90m3)
09/26/2016 at 22:25 • Filed to: None
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"E90M3" (e90m3)
09/26/2016 at 22:25 • Filed to: None | 1
| 17 |
Yet I find myself applying to jobs in the oil field, I guess almost 6 months of unemployment will do that.
Will frac for a paycheck.
PatBateman
> E90M3
09/26/2016 at 22:28 |
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A lot of land rigs will be back up and running by this time next year. If you have experience, you’ll make a pretty good salary. Just save your money.
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E90M3
> PatBateman
09/26/2016 at 22:29 |
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I spent 2.5 years a frac field engineer. I’m not sure about the recovery, I honestly thought that it’d be back by now.
Short-throw Granny Shifter is 2 #blessed 2b stressed
> E90M3
09/26/2016 at 22:35 |
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I spent 3 years in refinery process design saying the same thing. Five months unemployment and now I’m doing ...... petrochemical process design. This industry spits you out and then sucks you right back in.
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E90M3
> Short-throw Granny Shifter is 2 #blessed 2b stressed
09/26/2016 at 22:37 |
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After I got laid off, I said I wanted to be closer to home in Georgia, but I can’t find shit here. So I’ve started to look back into oil, seemingly the only industry that would want my skill set.
Gone
> PatBateman
09/26/2016 at 22:52 |
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That’d surprise a lot of people.
I expect another 20-30% CapEx cut for most companies next year. I think we’ll see some stability in pricing, but minimal growth or drilling. I think workover rigs and frac setups popping ducs will be working (not much more than current), but I wouldn’t expect much new drilling.
Most shale drillers hint at $60 oil being needed to start up again. I’m not sure there’s support in the near term for that price even with more stability. The floor seems to be $40ish and currently there is no support for $50. Q4/Q1 is generally quiet... I hear rumblings of Q4 layoffs from a few places, so I think we’ll see some more of that and some M&As. And bankruptcies of course. I think we’re far from out of the woods, but hope not. I suspect mid-2018 may be the first real uptick for drilling. Too many world competitors willing and able to sell low.
But about anything could happen. Hopefully it works out for those that are struggling. O&G has not gotten any less brutal this year.
1111111111111111111111
> E90M3
09/26/2016 at 22:53 |
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Get paid. Then figure out what you want to do and save for it. Ten years ago I cut rebar, it sucked ass. Now I administrator storage and servers and have fun at work.
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E90M3
> Gone
09/26/2016 at 23:04 |
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I know some companies were starting to get into re-fracs. I did a well back in end of February for a client the service company I worked for had at the time. While HHP is cheap, might as well try and get all you can out of wells that have already paid for themselves.
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E90M3
> 1111111111111111111111
09/26/2016 at 23:06 |
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I didn’t mind it apart from the inherent job insecurity. I would have no problem going back, I’d prefer not to work at a service company any more though. I was an engineer, so I was about at the end of my field life.
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1111111111111111111111
> E90M3
09/26/2016 at 23:14 |
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Well that sucks. What do you want to do?
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E90M3
> 1111111111111111111111
09/26/2016 at 23:17 |
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Trying to get a job as a process engineer, or something along those lines.
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1111111111111111111111
> E90M3
09/26/2016 at 23:19 |
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Cool. Is that what you want to do for a career?
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PatBateman
> Gone
09/26/2016 at 23:31 |
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The break even price for oil is WELL below $60, especially in the Eagleford and Permian. Daily rates for rigs and labor have dropped like a rock, which means that profit comes sooner for the wildcatters. Considering how quick it takes to put an onshore rig (vs offshore) into production, I think there will be plenty of demand for new holes.
I can’t go into what my firm’s forecasts are for crude are, but I’ll say that they’re a lot rosier than most people are used to these past couple of years. My firm is damn good at forecasting, btw.
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E90M3
> 1111111111111111111111
09/26/2016 at 23:31 |
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It’s at least where I want to try and start.
Danger
> E90M3
09/27/2016 at 00:44 |
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Are you near any refineries or pipeline service companies? Generally work is a little steadier as you go upstream.
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E90M3
> Danger
09/27/2016 at 09:16 |
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I applied to a few refineries, but they wanted someone with experience. I’m an engineer and not desperate, so I’d rather not do an hourly job at either one.
davesaddiction @ opposite-lock.com
> E90M3
09/27/2016 at 13:07 |
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When it’s good, it’s really good. I feel very fortunate that my wife and I both kept/found jobs in spite of all the layoffs the last few years. Hope you find a place to land soon.
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E90M3
> davesaddiction @ opposite-lock.com
09/28/2016 at 10:39 |
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Thanks, I’m hoping something comes up soon, this is no fun. At least the M3 is paid for.