Gas/Oil prices hitting low bad

[els1989]

Fracking has recently started in Arab countries, if they don't gush with oil they don't bother with them. Our break even price was 60-70 a barrel, now its said to be in the 30s depending if its shale or other formations. The Arab countries break even price is just over 100 per barrel, so their attempt to break our oil industry by flooding the market has back fired.

I think you need to recheck your info... You do know they don't need to pump the oil out of the ground it's free flowing out of their wells... Their cost to lift oil is significantly lower than ours they don't care about loosing money to hurt the USA

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[fatboytyler]

Russia is another major oil producer
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Yes, but how much oil do we get from Russia?

 

[els1989]

http://www.marketwatch.com/story/opec-is-wrong-to-think-it-can-outlast-us-on-oil-prices-2014-12-02

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[los33]

Yes, but how much oil do we get from Russia?

The last low gas price was caused by russia and we dropped near 1.89$ a gallon.

Russia is one of our main producers, but during sometime of i think the snowden leaks we suffered and went back to saudi arabia.

The actual cost per barrel i couldnt tell you as i dont have up to date charts, but saudi and russia is our main people.

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[speedyjuarez Premium Member]

I think you need to recheck your info... You do know they don't need to pump the oil out of the ground it's free flowing out of their wells... Their cost to lift oil is significantly lower than ours they don't care about loosing money to hurt the USA

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countries breakeven oil price - Google Search

 

[speedyjuarez Premium Member]

I work for one of the big 3 oil service companies, where I work a normal job ticket is around 14k, the same service overseas is north of 100k. Overseas our same Dept provides services to rigs about 4 times a month, here we would do about 30 wells.

Yes they don't frac overseas so cost is less to produce. But you have to fly everything or ship everything by boat to the rigs. And certain places are only accessible a few months a year because of the terrain. Here in the us we just drive what we need or hot shot something.

 

[los33]

Rumor is the gas hike is due to a refinery by Chicago needing work on it... Which is bull because the price of gas closed at 1.68 a gal on the market Friday... And oil is now down to 42.50 it's not looking good for me an actual oil field worker... Shits getting real we have had one of our 24hr rigs laid down and 17 guys wondering where their next paycheck is coming from. But it created moreWork for my rig with 1 less working

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Where are you located?

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[els1989]

Where are you located?
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The heart of the Bakken Williston nd

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[speedyjuarez Premium Member]

The heart of the Bakken Williston nd

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What driller do you work for?

 

[los33]

The heart of the Bakken Williston nd

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You guys wont lose as much work as others as you guys are in the mainlands for the US.

I doubt you guys face to many lay offs.

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[els1989]

What driller do you work for?

I work for pioneer I'm contracted with Hess... Not drilling side service side... So even if they did stop drilling completely I should be able to keep my job servicing wells.... But still there's been huge pay cuts... A lot of rigs released sun has ALOT of rigs in their yard same goes for nabors aka c&j who bought them out... Who do you wireline for

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[speedyjuarez Premium Member]

I work for pioneer I'm contracted with Hess... Not drilling side service side... So even if they did stop drilling completely I should be able to keep my job servicing wells.... But still there's been huge pay cuts... A lot of rigs released sun has ALOT of rigs in their yard same goes for nabors aka c&j who bought them out... Who do you wireline for

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Big red halli

 

[los33]

Big red halli

Oh yeah?

And you think your job is secured hahahahahah!!!!

That was a good one..

Dont mean to insult you, but you guys get paid low of the lowest and get laid off/fired like it was a daily duty.

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[speedyjuarez Premium Member]

Oh yeah?
And you think your job is secured hahahahahah!!!!

That was a good one..

Dont mean to insult you, but you guys get paid low of the lowest and get laid off/fired like it was a daily duty.

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Yes we get paid the lowest but that's why we have had the least lay offs compared to others. The reason I say security is because I'm a supervisor and trainer for all our new hire operators and engineers.

 

[speedyjuarez Premium Member]

A picture I took of the H&P yard in midland/Odessa a few months back. This was one of two yards in the midland/Odessa area.