I hope Home Depot and Lowes are still hiring.
hey manâŚget a class A CDL and youâll be good to go. My company is submitting a bid for tender trucks for the USFS to carry water for wildfire service. If we have another bad fire year like the last two, Iâll be hiring! But being your next Joe Boss, youâll have to eat my shit sandwich!
here is an article from Offshore Engineer that is quite sobering
Written by Elaine Maslin Thursday, 14 January 2016 03:21
Some US$380 billion worth of upstream oil and gas projects have been put on hold as a result of the fall in oil prices, according to new research by analysts Wood Mackenzie.
The Edinburgh based firm says the last six months of 2015 saw some 22 major projects deferred - amounting to 7 billion boe of commercial reserves put on hold.
This is on top of 46 developments containing 20 billion boe of reserves already previously deferred, according to its research.
Deepwater developments have been hit the hardest, according to Wood Mackenzie, accounting for more than half of new project deferrals up from 17 to 29, or 62% of total reserves and 56% of total capex.
The average break-even of delayed greenfield projects is $62/boe, says the firm.
The impact of the deferrals is some 2.9 MMb/d of liquids production deferred to early next decade, up from 2 MMb/d when Wood Mackenzie last looked at project deferrals in July 2015. Deferred liquid volumes are up 44%, compared to gas at 24%.
âOne reason we are seeing a growing list of delayed projects is cost deflation â or to be more accurate the need for costs to fall more to stimulate investment,â Angus Rodger, Principal Analyst, says. And the analysis shows that this is where deepwater has made the least gains: âThe biggest jump in pre-FID delayed projects over the last six months was in the deepwater, rising from 17 to 29, where costs have only fallen by around 10% despite the global crash in rig day-rates. Despite the size of these fields, the combination of insufficient cost deflation and significant upfront capital spend has discouraged companies from greenfield investment in the sector.â
Rodger says the impact of lower oil prices on company plans has been âbrutal.â
"What began in late-2014 as a haircut to discretionary spend on exploration and pre-development projects has become a full surgical operation to cut out all non-essential operational and capital expenditure.
"Tumbling prices and reduced budgets have forced companies to review and delay final investment decisions (FID) on planned projects, to re-consider the most cost-effective path to commerciality and free-up the capital just to survive at low prices.â
Tom Ellacott, Vice President of Corporate Analysis for Wood Mackenzie points out that since Wood Mackenzie last ran this analysis a key change for companies is stricter investment criteria.
âCompanies are having to adjust investment strategies to the risk of sustained low prices and this means tougher screening criteria for pre-FID projects. We believe that most companies will now be looking for these developments to hit economic hurdle rates at around $60/bbl. Tougher capital allocation criteria will give companies the framework to make difficult decisions about restructuring portfolios, optimizing pre-FID projects and capturing the full benefits of cost deflation. If a sector or country cannot meet new investment thresholds and compete for capital, operators are now more likely to choose divestment over warehousing a stranded resource.â
The reportâs findings conclude that FIDs on many of these projects have been pushed back to 2017 or beyond, with first production currently targeted between 2020 and 2023.
âBut against a backdrop of overwhelming corporate pressure to free-up capital and reduce future spend - to the detriment of production growth - there is considerable scope for this wall of output to get pushed back further if prices do not recover and/or costs do not fall enough,â says the firm.
Countries worst affected, i.e. with the largest inventory of delayed oil projects, are Canada, Angola, Kazakhstan, Nigeria, Norway and the US, which hold nearly 90% of all deferred liquids reserves.
The year ahead offers some glimmers of hope, however, not least in terms of innovation and genuine moves to standardization, says Tom Ellacot, Vice President corporate analysis. âWith oil prices recently falling to their lowest level since 2004, oil and gas companies will be forced to go into survival mode in 2016. Further project delays and cuts to discretionary investment are highly likely,â he says.
"That said, companies are being forced to re-evaluate how they can profitably develop large, high-cost conventional resources at low prices. Not only are we seeing a genuine push towards standardization, but low prices will also promote a level of innovation so far only seen in US tight oil.
"The pace of capex and opex deflation may therefore surprise on the upside in 2016. Finally, we expect oil prices to start recovering during the second half of the year, which should encourage first-movers to kick-start investment and lock-in gains from cost deflation ahead of the herd.â
[QUOTE=c.captain;177249]hey manâŚget a class A CDL and youâll be good to go. My company is submitting a bid for tender trucks for the USFS to carry water for wildfire service. If we have another bad fire year like the last two, Iâll be hiring! But being your next Joe Boss, youâll have to eat my shit sandwich![/QUOTE]
Iâve got my class A CDL, even have a tanker endorsement, how much does this job pay? I might be needing something soon with all the rigs being stacked. Do you provide mustard with your shit sandwichâs or do I need to bring my own?
[QUOTE=ChiefRob;177252]Do you provide mustard with your shit sandwichâs or do I need to bring my own?[/QUOTE]
using the GoM Jeaux Bawss model, I make my peons provide their own shit and bread, but I will provide a gravel lot filled with sinkholes to park your pickup in at crewchange.
BP Sheds 4,000 Jobs as Analysts Warn of $10 OilâŚoh $hit.
http://www.usnews.com/news/articles/2016-01-13/bp-sheds-4-000-jobs-as-analysts-warn-of-10-oil
[QUOTE=c.captain;177249]hey manâŚget a class A CDL and youâll be good to go. My company is submitting a bid for tender trucks for the USFS to carry water for wildfire service. If we have another bad fire year like the last two, Iâll be hiring! But being your next Joe Boss, youâll have to eat my shit sandwich!
here is an article from Offshore Engineer that is quite sobering[/QUOTE]
I know were you live Scooter. Iâll drop by and pick up that sandwich in person.
I like your style, Iâm seeking new revenue streams do you need a partner? Iâm flush with cash after cutting everyoneâs pay in half and forcing them into 28/14. Perhaps I can require all of my Large OSV Masterâs and second Captains to hold a CDL as a condition of employment. I can fly them up there in my private jet to rotate them out every couple of weeks. Iâll charge you $300 a day for each guy and pay $75 for the Master driver and $50 for the 2nd captain driver. Iâll insure each captain driver for $1m each Hopefully you have substandard equipment so if they die in a fiery crash I can get paid for each man twice.This could be beneficial to us both slide into my DMâs with some deets. I got so many 26 year old Large OSV Masters sitting around I need to use them somehow.
Problem is theyâre manual transmission; no button mashing and no sat Internet.
[QUOTE=AHTS Master;177261]I know were you live Scooter. Iâll drop by and pick up that sandwich in person.[/QUOTE]
well donât expect me to pay for you to get to crewchange but bring beer when you do
jeaux quit paying for travel a while ago, where have you been?
damned straight on thatâŚno school like the old school!
here is the present c.captain fleet
1981 International Cargostar with 20t lowboy trailer
1981 Ford C8000 tank truck/pumper
the mighty M54A2
got CDL?
sure you can buy a pre IPO equity stake in my operation for only $500M. Have your bean counter call my bean counter to work out the details
I got so many 26 year old Large OSV Masters sitting around I need to use them somehow.
NO PUNKS! I only hire 50+ with unlimited tonnage master and at least ten years of command experience on real trucks.
no, I dropped out of that class after hitting it big in powerball the other day. Just have to find that ticketâŚplus Iâm far too young
Although most here are mainly worried about what is happening in the GOM and the nearest environs, but here is an analysis of the world wide situation: http://www.oedigital.com/component/k2/item/11323-380-billion-of-projects-on-hold?utm_campaign=Fuel+For+Thought&utm_source=hs_email&utm_medium=email&utm_content=25305333&_hsenc=p2ANqtz-9UEwjwnpqHiu4tucFUZh0z7galEEZljm1Oqa2mzgPPrWzsdt9fAf8jslGWCVObu1WuJ9A8QDrMsY_tibRmTWnWlH-0gA&_hsmi=25305333
Gloom is everywhere by the look of it, but be an optimist and you stand a better change of surviving this downturn then all the pessimists out there.
To find out where you fit in, answer this question; how do you read the following: OPPORTUNITYISNOWHERE.
How do YOU read it???
OOOPs, didnât see that c.captain beat me to it quoting the article in OE. Sorry, no offence intended.
My excuse; I have been travelling. Hope to be back in work soon so as not to spend so much time here and on other forums.
The pessimist would say âthings canât get any worse.â The optimist would say âoh yes they can.â
[QUOTE=c.captain;177278]
NO PUNKS! I only hire 50+ with unlimited tonnage and at least ten years of command experience on real trucks.[/QUOTE]
Hey I meet all those requirements except I am about 6 years to young. I think that is age discrimination, I am gonna contact my lawyer.
[QUOTE=ChiefRob;177291]Hey I meet all those requirements except I am about 6 years to young. I think that is age discrimination, I am gonna contact my lawyer.[/QUOTE]
you do that but remember I have a lawyer too and because I am Joe Boss now my lawyer can beat up your lawyer with just his stink eye.
You know this just reminded me to get my attorneys to get on with obtaining that waiver letter for my company to use all foreign drivers for my trucks. Ran a 1" ad in the back of Home and Garden and Popular Brides magazines seeking American drivers but shazam none applied so getting that waiver will be a slam dunk.
Once I have that, I wonât need any sorry assed Americans with their whining and bitching about âbenefitsâ or âovertimeâ or even âpayâ!
now back to our storyâŚcrude is now below $30/bbl
[B]Oil plunges below $29 on prospects of more Iran crude, China worries[/B]
Fri Jan 15, 2016 7:26pm EST
By Devika Krishna Kumar
Oil prices crashed 6 percent on Friday to close below $30 a barrel for the first time in 12 years, resuming this yearâs breathtaking rout as Chinese stock markets fell further and traders braced for an imminent rise in Iranâs exports.
After closing higher for the first time in eight sessions on Thursday, U.S. and Brent crude futures plumbed new lows, taking this yearâs losses to more than 20 percent, the worst two-week decline since the 2008 financial crisis.
The slump was not over yet, some analysts warned, as the lifting of sanctions on Iran opens the door to a wave of new oil. The International Atomic Energy Agency (IAEA) is expected on Saturday to issue its report on Iranâs compliance with an agreement to curb its nuclear program, potentially triggering the lifting of Western sanctions.
Shares in China, the worldâs No. 2 oil consumer, tumbled on Friday, with the Shanghai index ending down 3.5 percent to its lowest close since December 2014 and the yuan weakening sharply offshore. Adding to fuel demand concerns, U.S. data showed retail sales fell and industrial production weakened in December.
Brent LCOc1 settled down $1.94, or 6.3 percent, at $28.94 a barrel, sticking below the pivotal $30 a barrel mark after briefly dipping below that level in the previous two days. It fell as far as $28.82, the lowest since February 2004.
where oh where is the bottom?
Coming soon to a business tv show near you,
âHey, the oil companies and all involved are in trouble, we (US govt) should bail them outâ.
Watch
Iran sanctions lifted. http://www.bbc.com/news/world-middle-east-35335078. Priced in already?
Tehran says it will hike sales by 500,000 barrels the day after sanctions are lifted and increase total exports to around 2.5 million barrels within the next year.
This will push the price only one direction: downwards. The market is already flooded by cheap oil and there will be many more barrels in the market than there are buyers.
In order to win back its customers, Iran plans to offer discounts on prices that are already the lowest in 11 years.