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Oilfield laying off?

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  • TXARGUY

    Famous Among Dozens
    Lifetime Member
    Rating - 100%
    20   0   0
    May 31, 2012
    7,977
    31
    Wildcat Thicket, Texas
    Local Midland station did mention Reeves county has more rigs running now than any other county in the union.
    44, down from 52 last week. Drove over 400 miles today. I sure saw a lot of rigs stacked.

    Glad I left the area before I had to see that. We laid our precision rig down two weeks ago and headed straight into acquisition mode..

    Hard times but we all know the cycles.

    I'd been looking for the bust (slowdown really) for the last 6 - 8 months.

    The signs were all there if you were watching.

    Unfortunately the forecasts anyone wanted to believe were all sunny and money for at least the next 8 years.

    So the mansions were built. The supercars were bought, the signs were ignored and the die was cast.

    I hate the layoffs that are happening.

    I do like some of the corrections that are happening. Service company rates were off the charts and steadily rising.

    The industry will survive and there will be another boom. I just hope that the lessons are actually learned the next time around instead of just being buzz word fodder to toss around in meetings where everyone in the room is wearing blinders while trying to convince the themselves and everyone else in the room that they're learned so much from past they're now virtually bust proof.

    You know, for that bust that isn't supposed to happen for another 8 years.
     

    Stukaman

    Well-Known
    Emeritus - "Texas Proud"
    Rating - 100%
    1   0   0
    Jun 26, 2011
    1,342
    31
    Fort Worth
    Finishing the zipper we are on by Wednesday then I think in the yard for the rest of the hitch, after that I don't know just hangen in right now.
     
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