US may soon become world's top oil producer

[Strychnine]

Any predictions on the next bust?

Who fucking knows, lol. CMI is cutting AOP for 2013 based on global economic fears and we have had a lot of QSK50 cancellations this year because of a slowing frac trailer build schedule Q3/4 this yr and into next, but then this came from one of our drilling customers today:

(i) ***** mgmt continues to believe that newbuild opportunities will exist in 2013;
(ii) ***** signed long term contracts for two newbuild service rigs;
(iii) ***** deployed 11 newbuilds in Q3 and
(iv) ***** is increasing its 2012 capex budget from $875mm to $921mm which reflects additional rig upgrade contracts and the two new service contracts.

And I know another big driller in the US is building 24 new rigs next year.

The workover market is going strong too. There are multiple OEMs bidding on a ~20 rig contract for CA bound Nabors rigs right now... and thats's just one operator in one state.

NatGas is the next big thing in the oilfield. Not getting it out of the ground but powering the equipment. Within the next couple years you'll see more dual fuel (diesel / NG) driiling and frac rigs than you can imagine and you'll even start seeing pure NG (spark ignited) powered workover rigs.

[Grape]

man, that obama is working his magic

[SS Junk]

Hopefully sooner than later. I'm ready for some mid $1 gas prices again.

Won't ever happen.

[SS Junk]

Not sure if srs.

You lose a bet?

[Strychnine]

Any predictions on the next bust?

Just FYI, here's Baker's August rig count. I left the latest one in my car and I'm too lazy to go get it.

Check out that year to year delta on gas...

[racrguy]

You lose a bet?

Do you have any idea what you're listening to with that video?

[SS Junk]

Do you have any idea what you're listening to with that video?

A bunch of faggotry. Cliff Burton outplays him dead.

[racrguy]

A bunch of faggotry. Cliff Burton outplays him dead.

Quit trollin', ninja.

[Sean88gt]

Just FYI, here's Baker's August rig count. I left the latest one in my car and I'm too lazy to go get it.

Check out that year to year delta on gas...

That's no bueno!

CRM dumped massive resources into the HHP rebuild center and brought everything in from 19's up. I think the facility cost around $350MM and they leveraged everything on O&G & mining maintaining 110% duty cycle, even though Climax and Cripple Creek report they are either slowing down or running low on potential material. They also had some mine in Mexico that was getting frustrated at 8-12 month leadtimes on 60's and 78's that was threatening to go another route. It's amazing how poorly they think on a forecasting level.

[Captain Crawfish]

if theres an article about it its gotta be truth!

[Trip McNeely]

It's amazing how poorly they think on a forecasting level.

lol forecasting in the O&G industry? That's hilarious. Shit changes by the second. I don't know how pipe companies survive.

[Sean88gt]

lol forecasting in the O&G industry? That's hilarious. Shit changes by the second. I don't know how pipe companies survive.

Agreed. They essentially leveraged every asset they had to get the facility built - BASED on trends continuing. When I was there, they were losing repowers to other engine manufacturers due to lead times.

[Trip McNeely]

Agreed. They essentially leveraged every asset they had to get the facility built - BASED on trends continuing. When I was there, they were losing repowers to other engine manufacturers due to lead times.

When I worked for a service company last year I did forecasting and it was a nightmare. The operators drilling programs literally changed by the day. Wells that were scheduled for 3 months from then went online, and switched with current wells that were put on hold, etc. Equipment needs were altered, etc. It was a headache. I'm glad now I'm just in sales and focus on production and midstream areas, not drilling, so I'm doing ok.. Now all I have to worry about is manufacturing lead times, due to the Bakken and Eagleford sucking everything up. lol

[Sean88gt]

As I said elsewhere - The MBA has largely replaced intelligent leadership. What a lot of "leaders" simply don't understand is that a spreadsheet isn't the end all be all of business success, sometimes it takes thought.

[red95gts]

As I said elsewhere - The MBA has largely replaced intelligent leadership. What a lot of "leaders" simply don't understand is that a spreadsheet isn't the end all be all of business success, sometimes it takes thought.

I'm in the medical device industry and just had that same conversation at lunch today. What looks good to the bean-counters on paper rarely works worth a fuck in the real world.