Uh... minuteman ; you okay?

Discussion in 'General Discussion' started by Tango3, Jun 20, 2009.

  1. Tango3

    Tango3 Aimless wanderer


    Big oilfield services companies cut more jobs

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    <!-- end .primary-media -->
    <!-- end .related-media --> <cite class="vcard"> By JOHN PORRETTO, AP Energy Writer John Porretto, Ap Energy Writer </cite> – <abbr title="2009-06-19T12:23:37-0700" class="timedate">Fri Jun 19, 3:23 pm ET</abbr>
    <!-- end .byline --> HOUSTON – Even with crude prices on the rise, three of the biggest oilfield services companies say they've cut more jobs as they adjust to sluggish exploration and drilling activity.
    Schlumberger Ltd., the world's largest oilfield services outfit, said Friday it eliminated another 100 jobs this week in North America. Smaller rivals Halliburton Co. and Baker Hughes Inc. also said they had reduced positions, but neither provided specific numbers.
    The three companies combined have cut about 10,000 jobs already this year. Oilfield service companies have had to adapt to far lower spending by many oil and gas producers, which hire service providers for seismic work, reservoir management and other oilfield tasks.
    Oil prices have risen about 35 percent since the start of May, and the number of rigs exploring for oil and natural gas in the U.S. rose this week for only the second time this year. But energy demand remains weak, and the number of rigs working in the U.S. is down by more than 1,000 from a year ago.
    In a statement, Schlumberger said it also has reduced or eliminated overtime, adjusted recruiting targets and released some contractors to help manage the downturn.
    "We will continue to review our position as market needs develop," said the company, whose principal offices are in Houston, Paris and The Hague.
    Halliburton said its reductions took place in Duncan, Okla. The company, which has corporate offices in Houston and Dubai, said it has frozen annual salary adjustments and also cut pay for executives.
    Gene Schiels, a spokesman for Houston-based Baker Hughes, said that the company continues to monitor activity and "will make adjustments accordingly."
    In trading Friday, Schlumberger shares fell 71 cents to $55.04, Baker Hughes shares fell 59 cents to $37.33 and Halliburton shares declined 32 cents to $21.20.
  2. Minuteman

    Minuteman Chaplain Moderator Emeritus Founding Member

    Just ridin out the storm brother. I've been in this biz long enough to know that what goes up always comes down. I've been laid off since Feb. but I was fortunate enough to see it coming and was fairly well prepared. I've been living on my savings and had the bills paid a few months in advance. Plus liquidating a few assets. Cashed in my .308, 30-06, 7.62x54R. Couple other savings plans.
    Everyone I have been talking to is saying that the oil companies are budgeting to pick up rigs in the 4th quarter. So it looks like things will start turning the corner after Sept.
    This last week is the first week that has shown an increase in the domestic rig count. Been falling like a brick since last Nov. from 1700 rigs last summer to a little over 700 last week.
    It was a perfect storm scenario for the oil companies. We were producing all out for the last few years trying to keep up with demand. When the prices got so high people started cutting back on their energy use, then the worldwide economic downturn hit, we suddenly had a surge in inventories and prices plummeted. Companies started laying down rigs and cancelling drilling projects.
    Last year was a feast year, this one will be a famine. Nature of the beast.
    Thanks for thinking of me. I'll be fine but there are a lot of young Roughnecks with families out there that are really struggling. My heart goes out to them.
  3. Minuteman

    Minuteman Chaplain Moderator Emeritus Founding Member

    This is the looking for work forum on an oilfield board that I belong to. Pretty sad stories.


    And a video of the dangers of the job. The Derrickman is working 90' off the rig floor. The driller raises the traveling blocks pulling another "stand" of drill pipe but for some reason he doesn't stop and hits the top of the rig cutting the cable and dropping the entire assembly. Lots of folks been killed just like this. Pretty dramatic vid.

    Hmm. Doesn't seem to be working. Try the link


    <EMBED height=344 type=application/x-shockwave-flash pluginspage=http://www.macromedia.com/go/getflashplayer width=456 src=http://static.ning.com/socialnetworkmain/widgets/video/flvplayer/flvplayer.swf?v=4.2.5%3A22881 wmode="opaque" FlashVars="config=http%3A%2F%2Fwww.drillingahead.com%2Fvideo%2Fvideo%2FshowPlayerConfig%3Fid%3D3116006%253AVideo%253A32591%26ck%3D-&video_smoothing=on&autoplay=off&isEmbedCode=1" bgColor="#DFE7EA" scale="noscale" allowScriptAccess="always" allowFullScreen="true"> </EMBED>
    <SMALL>Find more videos like this on Drilling Ahead</SMALL>

    Of course it's not all danger. A lot of horsin around too!! This cracks me up![lolol]

    <EMBED height=344 type=application/x-shockwave-flash width=425 src=http://www.youtube.com/v/ML02rmzn5c8&color1=0xb1b1b1&color2=0xcfcfcf&hl=en&feature=player_embedded&fs=1 allowScriptAccess="always" allowfullscreen="true"></EMBED>

  4. melbo

    melbo Hunter Gatherer Administrator Founding Member

    OK, melbo wades back into the world of the internet after 18 months...

    Maybe we need a Networking forum linking those who need help finding a job/work with those who have openings?

    Monkeys in Arms?

    Sorry to hear about it MM, Just prayed for you and your family.
  5. Tango3

    Tango3 Aimless wanderer

  6. Tango3

    Tango3 Aimless wanderer

    Drill up here all you'd hit would be liberals...
  7. Minuteman

    Minuteman Chaplain Moderator Emeritus Founding Member

    I am (or was, will be again) the "Company Man". Actually a Company Man is direct hired to the oil company. I am actualy an Independent Drilling Consultant. I work on contract to any oil company.
    translation: oilfield whore

    BTW, I have worked every position in the song. I worked my way up from the ranks. No letters after my name. No matter what postion I hold I am and always will be a "Roughneck".
  8. Tango3

    Tango3 Aimless wanderer

    Hey enjoyed the video on your oilman site; even though half the time I have no freakin' idea of what I'm looking at., the shallow blowout at sea was kinda cool. good time for a smoke on deck?
  9. Minuteman

    Minuteman Chaplain Moderator Emeritus Founding Member

    I just noticed that the song cuts out before it gets to my part. here is a link to the site where you can hear the whole thing if you want.


    The name of the song is;
    The Story of the Derrick Man, Toolpusher, Roustabout, Roughneck, Driller and the Company Man play

    on the "Oilfield Cowboy" album
  10. Tango3

    Tango3 Aimless wanderer

    t'anks :)

    "company man"..
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