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Oilfield laying off?

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  • ray22

    Active Member
    Rating - 66.7%
    2   1   0
    Mar 21, 2009
    532
    11
    Jewett
    Word on the street is that the rebound will begin in January. I can't reveal my sources. Make it until then and you will be fine. Between now and then it will get worse.
    No disrespect to your friend but after 20+ years in the oilfield, ever rebound rumor I've heard of seems to kick off in January. In reality when it comes back it's a slow build up and usally starts in the fall after their new budgets go into place. From personal experience I see it being the summer or fall of 2016.

    Govern wisely and as little as possible~Sam Houston
    Texas SOT
     

    winchster

    Right Wing Extremist
    Rating - 100%
    6   0   0
    Nov 7, 2010
    4,295
    31
    Justin, TX
    I grew up in the patch. You'd have to stack money a lot deeper than anyone will to get me to work in that industry. Good luck to you fellas.
     

    gcarrillo004

    Active Member
    Rating - 0%
    0   0   0
    Mar 27, 2012
    270
    1
    Atascocita, Texas
    they have been cutting deep at my company. I volunteered for the layoff, so i could get a severance package. It beats being fired since that is what has been happening to people that have been there longer than 5 years. I left the company last week after 14 years. Been in the oilfield IT dept for the last 20 years, took a 2 year break from oil and joined PriceWaterHouseCoopers, but with my luck Enron happened so i went back to the oil field.
     

    subseashooter

    Use Your Imagination.....
    Lifetime Member
    Rating - 100%
    10   0   0
    Apr 7, 2013
    1,918
    46
    Here and There
    they have been cutting deep at my company. I volunteered for the layoff, so i could get a severance package. It beats being fired since that is what has been happening to people that have been there longer than 5 years. I left the company last week after 14 years. Been in the oilfield IT dept for the last 20 years, took a 2 year break from oil and joined PriceWaterHouseCoopers, but with my luck Enron happened so i went back to the oil field.
    Proof that oil isn't the only place where the good life can go south really quickly.

    Lots of good reading here the last several posts....boom and bust rumors about and likely will through the time of humans roaming the earth.

    I took the first step and implemented the beginning of my fall back plan a few weeks ago, and currently have a standing offer of employment at a Ford dealership as a service writer. Its what I was doing a dozen years ago before I got into the patch. I've been reassured by every level of management, up to the executive level, that my job isn't going anywhere, but I also recognize that one misstep and they'd be happy to cut a guy that's been around as long as I have.....they'd hate to lose the experience that I bring to the job, but anyone can be replaced.

    One thought has gone through my head over and over the past year or so, when this line of work seemed to be a bottomless pit of money....it was a bumper sticker that was popular when I was a kid - "Lord, give me one more boom, I promise not to screw this one up." With that thought in mind, I got serious about paying down my mortgage, paying off credit cards, and making a mental checklist of what in the safe gets sold in what order to pay the bills if this all goes away overnight.

    The Buffet saying about investing is pretty apropos in a lot of area in life.....something about when everyone is happy and everything seems great, be scared, and when everyone is scared and running, be ready to pounce in the next opportunity.

    My company and another major player in the subsea industry recently started a joint venture that SHOULD drastically lower the cost of planning and developing deep water hydrocarbons. They did this because of pressure from production companies to lower costs.

    Looks like opportunity to me.
     

    Saltyag2010

    TGT Addict
    Rating - 100%
    6   0   0
    Feb 11, 2014
    5,851
    66
    Flour Bluff, America
    At my former job, former because I got fired Thursday, our service company was behind with work, I moved from sales to project support to an electrician. Our company was bought out and they started cutting field hours, perdiem, and then employees even though we were behind on our work.

    Its sad because I was let go when we were behind with the reason being that "it just didn't work out".
     

    matefrio

    ΔΕΞΑΙ
    Rating - 0%
    0   0   0
    Jan 19, 2010
    11,249
    31
    Missouri, Texas Consulate HQ
    At my former job, former because I got fired Thursday, our service company was behind with work, I moved from sales to project support to an electrician. Our company was bought out and they started cutting field hours, perdiem, and then employees even though we were behind on our work.

    Its sad because I was let go when we were behind with the reason being that "it just didn't work out".

    Best of luck finding a better position.
     
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