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

[GrayStangGT]

Most people don't even make the 75K a year in the field, most make 35-65K a year unless you're on the production side or higher up.

Our entry level no experience guys make over 40k getting 50hrs a week, but probably doing under 40 of actual work.

[slostang281]

Damn, you can make a lot better as an autoworker and be home at night.

Yes sir you are correct. Most rig hands who work 7/7 only make 40-50K a year with the exception on drillers, tool pushers, company men, superintendents, etc. and about 35-45 for roustabout hands. The ones who make good money have a skill of some sort or an education.

[slostang281]

Our entry level no experience guys make over 40k getting 50hrs a week, but probably doing under 40 of actual work.

That's not bad for entry level since its bankers hours. What type of job is that?

[GrayStangGT]

Electrician Helper or Lineman Helper, they work the occasional weekend, but most weekends are off.

[one slow 5.0]

I work for a pipeline company as a station operator, my base is $62,000 but with OT I've avged $93,000/yr .

[Denny]

I work for a pipeline company as a station operator, my base is $62,000 but with OT I've avged $93,000/yr .

Is that what you started with?

Over at Halliburton, the lowest Frac hand will probably make 70-75k if they hustle. I think a lot of the smaller outfits will start you off with a little more, but not with the same security, training and starting benefits as Ol Red.

[one slow 5.0]

I started at $24/hr in March of 2012. We've lost employees this year to higher paying companies for the same position.

[Denny]

I started at $24/hr in March of 2012. We've lost employees this year to higher paying companies for the same position.

Pretty decent, though.

[one slow 5.0]

I'm definitely not complaining. But it's hard to say no when you make $50,000/yr and company X pays $85,000 for the same job.

[Denny]

True

[FATHERFORD]

we aren't getting the big billion dollar projects left and right anymore, but we are still getting work. I myself just switched companies for a $20 an hour raise.

[runin90lx]

Im curious why some of these companies are laying rigs down? Almost every companyni know has their prices hedged. Our contract is set at selling our oil for appx $90/bbl for 2015. So even at low 70 prices we are still doing okay. Now come 2016 we may be slowing down. Gives me a full year to stack up as much cash as possible

[Strychnine]

You been tracking permits at all?

US O&G well permits issued dropped 41% overall from October to November.
October: 7227 permits
November: 4250 permits

Permian Basin: -38%
Eagle Ford: -28%
Bakken: -29%

Apache has cold stacked (taken off the market) 10 rigs in the Permian recently. Like GrayStang said, I think the general feeling is that west TX will see a ~15% rig count drop in the next few months (from mid 500s to mid 400s).



Then you have the Obama Administration (Jack Lew, treasury secretary) saying stuff like this:

“Lower oil prices are like a tax cut for the economy so in terms of the macroeconomic impact it’s net a positive. For the shale projects, I don’t expect you’re going to see a reduction in production."

And the EIA is actually predicting $2 gas for TX in 2015 (a bit lower than elsewhere) with higher US O&G production next year, but with less aggressive growth.



It's still probably too soon to really know WTF is going to happen. Prices obviously haven't found the floor yet.

[racrguy]

Yes sir you are correct. Most rig hands who work 7/7 only make 40-50K a year with the exception on drillers, tool pushers, company men, superintendents, etc. and about 35-45 for roustabout hands. The ones who make good money have a skill of some sort or an education.

I brought home 26k in 4 months @20/hr with no per diem at Sendero working 7/7 with the only "extra" time was during rig moves when I was on days off. When i was working for Nabors I was on track to make 76k/year as a floorhand. If you're a driller and not clearing 110-120, you're doing it wrong.

[slow99]

US O&G well permits issued dropped 41% overall from October to November.
October: 7227 permits
November: 4250 permits

Permian Basin: -38%
Eagle Ford: -28%
Bakken: -29%

Apache has cold stacked (taken off the market) 10 rigs in the Permian recently. Like GrayStang said, I think the general feeling is that west TX will see a ~15% rig count drop in the next few months (from mid 500s to mid 400s).



Then you have the Obama Administration (Jack Lew, treasury secretary) saying stuff like this:


And the EIA is actually predicting $2 gas for TX in 2015 (a bit lower than elsewhere) with higher US O&G production next year, but with less aggressive growth.



It's still probably too soon to really know WTF is going to happen. Prices obviously haven't found the floor yet.

You have the Y/Y numbers? I would assume there's some seasonality involved.