And there was much rejoicing in the land.... Gas Prices

[Ruffdaddy]

You guys should have been fired for that.

Fired for what?

[inline 6]

$1.67 @ 360 and Ragland

[Snatch Napkin]

Fired for what?

Initially, I read that as leaving the spread running uncontrolled for an hour and completely agreed with Yale.
I then realized it would have been a stagnant spread.


Given enough time and higher price of oil, they'll have this shit streamlined to be profitable at low cost.

[YALE]

Initially, I read that as leaving the spread running uncontrolled for an hour and completely agreed with Yale.
I then realized it would have been a stagnant spread.


Given enough time and higher price of oil, they'll have this shit streamlined to be profitable at low cost.

Is it acceptable to tie up equipment and give bad feedback on purpose on a job? Even if they were going over and manually turning pumps on or off as directed to and there was no loss of production, they made it clear that fucking with the company was the priority, so they need to go. Hell, they could have made money vs what the automated system was capable of at the time, and they'd still deserve to be fired.

[KBScobravert]

Is it acceptable to tie up equipment and give bad feedback on purpose on a job? Even if they were going over and manually turning pumps on or off as directed to and there was no loss of production, they made it clear that fucking with the company was the priority, so they need to go. Hell, they could have made money vs what the automated system was capable of at the time, and they'd still deserve to be fired.

Nah. Lessons have to be learned the hard way sometimes. As long as it doesn't run a safety risk. It is nothing for the gut calling the job from the van to go into blender controls and change numbers to see if the blender tender can catch it and correct. Shows he will catch a real problem when it matters.

[no4njnk]

We jumped on the units to start tracing wires since non of the engines would start. The Canadian engineers told us to get off since stupid Americans couldn't figure it out. We told the US engineer about the unplugged connectors and he told us not to say anything for a bit. Needless to say they call the company I was working with and my company for troubleshooting today

[Snatch Napkin]

Is it acceptable to tie up equipment and give bad feedback on purpose on a job? Even if they were going over and manually turning pumps on or off as directed to and there was no loss of production, they made it clear that fucking with the company was the priority, so they need to go. Hell, they could have made money vs what the automated system was capable of at the time, and they'd still deserve to be fired.

The line on the graph is all that matters.

[YALE]

We jumped on the units to start tracing wires since non of the engines would start. The Canadian engineers told us to get off since stupid Americans couldn't figure it out. We told the US engineer about the unplugged connectors and he told us not to say anything for a bit. Needless to say they call the company I was working with and my company for troubleshooting today

That's a different animal. I apologize.

[no4njnk]

No worries, did not feel like going too much in detail. Just remember to trust the Americans over Canadians. Thought that was a gimmie on this site.

[Andy@PrimeTuning]

Remember Green Field Energy Services? They tried to reinvent the wheel and it backfired massively.

They thought natgas (and even wellhead gas) turbine powered frac trailers were going to be the future. They even had a plan to hire returning vets (helicopter mechs since the turbines they were using came from Chinooks) to service the equipment and they were supposed to cut the pump footprint per horsepower in half.

When they filed Chapter 11 (Oct 2013, when WTI was still $100+) and subsequently sold everything (3500 pieces of equipment at nearly $250MM) it was called the ‘largest disposition the industry has seen' Their market entry timing was late too, but you get the point.

I was able to see this operation up close and personal - They had some great ideas but It's possible that might of been an investment scam - I'm not sure they ever planned on being successful

[TexasDevilDog]

$1.56 cash price at Valero White Settlement.

[Baron Von Crowder]

$1.56 cash price at Valero White Settlement.

[YALE]

I was able to see this operation up close and personal - They had some great ideas but It's possible that might of been an investment scam - I'm not sure they ever planned on being successful

have

[Strychnine]

I was able to see this operation up close and personal - They had some great ideas but It's possible that might of been an investment scam - I'm not sure they ever planned on being successful

I heard similar things. I could go dig up some old articles, but when they were really falling apart some Louisiana news outlets were writing stuff about his past that I remember not being too encouraging.

Schlumberger May Lay-off 10,000 More Employees A New Financial Disclosure Suggests


A new financial filing from Schlumberger on Tuesday suggests that mass lay-offs are back on the table for the oilfield service giant. Downsizing has been on hold at Schlumberger as the company focused on maintaining operational scale in anticipation of a recovery for the past few quarters. But the outlook for 2016 has dimmed as oil prices remain depressed.


Up To 10,000 Lay-Offs May Be Coming

On Tuesday morning, Schlumberger said in an SEC filing that it will take a $350mm restructuring charge associated with workforce reductions during the fourth quarter. The company had indicated in October that the charge and further downsizing was coming. Large lay-offs follow charges like this.

The filing did not include the number of jobs that would be cut. And Schlumberger declined our request for comment on the number of employees that could be let go. The company is not ready to disclose the extent of the headcount reduction at the moment. However, we estimate the financial disclosure means approximately 10,000 jobs may be cut in this latest round.

Here's how we get to this estimate. So far this year, Schlumberger has disclosed 20,000 lay-offs. In January, 9,000 lay-offs were disclosed and during 1Q a further 11,000 employees were released. In those two cuts, Schlumberger took charges of $296mm and $390mm, respectively. This averages out to a charge of about $34,000 for each employee released. Applying the same ratio to this new $350mm charge suggests about 10,200 additional employees could be released.




To be sure, other variables could come into play that make the extent of this round of cuts larger or smaller. For example, the 1Q15 restructuring charge included leave of absence incentives. So our 10,000 headcount reduction estimate is just that, an estimate. But wherever the number ultimately falls, one thing is absolutely clear - mass lay-offs are returning to Schlumberger and pink slips will likely be handed out between now and early next year.


[uSchlumberger Had Put Lay-Offs On Hold, But The 2016 Outlook Has Dimmed[/u]

Schlumberger had put mass lay-offs on hold during 2Q and 3Q this year. On a conference call during July, CEO Paal Kibsgaard said: "For now, we have decided to preserve our current structure for Q3, and this is in order to be ready for increased activity as we go forward." But since then, oil prices have dissappointed, customer budgets continued to shrink, and the outlook for 2016 has deteriorated. And in October, the company indicated that its resizing would be back on the table during 4Q.

Speaking at an investor conference on Tuesday December 1, 2015, Patrick Schorn President Schlumberger Operations said: "The latest leg down in activity has led us to again evaluate our staffing levels against expected activity. Following which, we will further right size the organization based on the activity outlook for 2016 and streamline our support structure." This slide from Schorn's presentation Tuesday shows the resizing for support and field staff at Schlumberger.




If our estimate of the headcount reduction size proves correct, this latest round of mass lay-offs could take Schlumberger's total headcount reduction since late-2014 up to 30,000 employees. From a peak near 130,000 workers, Schlumberger's headcount would be down about 23% for the downcycle if another 10,000 employees are released.

[Ruffdaddy]

We lost 7 total this week...not as bad as last.

Also...OPEC isnt as steadfast as they were last year...but still no major developments.

Lastly i moved to a much larger and more stable company 3 weeks ago. Its been fun so far, lets hope the upturn comes at the end of 16 so this stuff stabilizes. Then maybe we can hope for job prospect growth in 18.