Oilfield Layoffs

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EFsDad

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You'd prolly be suprised as to how many people think that about everyone that works in the patch.

Just curious, and not making an assumptions, but I worked as a contractor overseas and it was probably about 5% over there that were that way, what would you say it is out in the patch?
 

nofearfactor

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You'd prolly be suprised as to how many people think that about everyone that works in the patch.
I wouldnt be. Where my family is from in Osage county after HS you either go off to college and never come back, leave for the good jobs in the big city, or you stay and work in the oil field, work cattle, etc. Everybody else caters to those who work in the patch or on ranches or if youre indian you can usually work for the tribe. Since a majority of those who live there also live on proceeds from the Osage mineral estate then oil is king. When its up people are working in the fields and companies are coming in buying leases and the workers are spending money local and indians are spending their headright money. When its down like now with the entire field totally shut down, everyone suffers, not just the patch workers. Most oil workers in the Osage are generational since the patch there is over a hundred years old. You dont really see alot of excess spending on trucks or houses, theyre used to the ups and downs. My brothers kid works on rigs, pulling units, whatever, then when its down he works cattle in between. Did the same in the 80s when I lived there.
 
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Quiet a bit of polished ******** in that article. Not sure of the author's background, but I would bet he is a Wall Street guy trying to scare some investors to drop some stocks.

I bet oil surpasses $75/bbl before it drops below $30/bbl.

Yea there is a lot of fear mongering in the financial articles as of late. 6 months ago they were all predicting that $90/bbl oil would hold for the next 10 years.
 

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