There's probably a worse time to take a job in the oilfield service industry than jumping on the falling knife, but I can't think of one.

Everybody being so bearish on oil kind of makes me want to buy it with both hands.

Job like that right now is high risk high reward. Could be just a small dip for a while and will shoot back up and you would be positioned to take advantage of your company continuing to grow or we could continue to see prices slide out and the company goes through hard times and as its newest employee you are the first out the door. If you get fired, how great are you skills that you could easily get hired again? In finance/accounting, it is a little harder to have strong industry network and to have unique skills companies would find valuable in downturn environment. If you have a young child, I wouldn't be thinking of taking a risk like this unless the wife also had a stable well paying job.

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Everybody being so bearish on oil kind of makes me want to buy it with both hands.

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A couple of things we know for sure A) oil will power everything we do for the foreseeable future B) the demand and price are near term fluctuations in the predetermined long term increase, unless we find a stash of hydrocarbon somewhere that will power the world on projected growth for 1000 years.

Hmm, you might be on to something.

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Job like that right now is high risk high reward. Could be just a small dip for a while and will shoot back up and you would be positioned to take advantage of your company continuing to grow or we could continue to see prices slide out and the company goes through hard times and as its newest employee you are the first out the door. If you get fired, how great are you skills that you could easily get hired again? In finance/accounting, it is a little harder to have strong industry network and to have unique skills companies would find valuable in downturn environment. If you have a young child, I wouldn't be thinking of taking a risk like this unless the wife also had a stable well paying job.

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After interviewing there are a couple of things that make me feel a little more comfortable: This company isn't exactly a small mom and pop shop... They are an operating company of an extremely large & highly regarded private equity firm and all of the executives running the company are past executives from very large oil companies. All of their frac spreads are contracted out throughout fy15. They also are diversified in the sense they are spread out between multiple different basins in both US & Canada and are involved in both gas & liquids. They acquired a wireline company recently & offer other drilling services so they aren't 100% fracking only. The plan has been and is still to eventually go the IPO route so it could potentially be major resume experience to be on the finance side of a company pre IPO, during an ipo, and post ipo.... Also not sure but imagine there could be some potentially nice monetary perks associated with going through an IPO.

I told my wife I would be more surprised if I didn't get an offer than if I did after these interviews but there would also be some definite negatives and i would really have to think before taking it. My wife works & we are debt free finally with extremely low expenses so now might be the time to take a chance before we go buy a house & all that. We do want to have another child soon though.

Sorry for derailing the thread but hopefully it continues to create conversation on the nature of the industry and the current short and long term outlooks.

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My wife works & we are debt free finally with extremely low expenses so now might be the time to take a chance before we go buy a house & all that. We do want to have another child soon though.

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Congrats on being debt free. That changes the equation IMO, allowing you to take more of a risk.

http://www.bloomberg.com/news/2014-11-20/oil-at-75-means-patches-of-texas-shale-turn-unprofitable.html

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"Everybody is trying to put a very happy spin on their ability to weather $80 oil, but a lot of that is just smoke," said Daniel Dicker, president of MercBloc Wealth Management Solutions with 25 years' experience trading crude on the New York Mercantile Exchange. "The shale revolution doesn't work at $80, period."

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By contrast, the biggest-producing fields -- North Dakota's Bakken and the Permian and Eagle Ford in Texas -- pump a combined 4.7 million barrels a day, according to the Energy Information Administration. Those regions remain economic at $55 to $65 a barrel, according to Manuj Nikhanj, head of energy research at New York-based Investment Technology Group Inc. What matters more than break-even levels is that lower prices reduce the cash flows companies can use to reinvest in new production, he said.

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Just because fields being drilled as they are today aren't profitable below $80 oil doesn't mean they can't be profitable at lower levels by changing the approach.

Some companies may be blowing smoke.

But a lot aren't.

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Some companies may be blowing smoke.

But a lot aren't.

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Bull shat. Any company with half a brain didn't go out and finance their projects on $80 oil. Some may have, but A LOT didn't.

That was in reference to the quote that said the shale boom doesn't work at $80 despite some companies saying it will. For every company? No. But there are plenty of companies that have positioned themselves well to weather low oil.

Marginal assets are marginal assets. A lot of the acreage companies have in the Bakken, EF, and Permian aren't marginal. And they aren't like deep water projects where you need tons of cash to bankroll development.

Prepare thy....

Personal Prediction:

$68ish WTI and $72ish Brent by the end of the year.

if USO ETF's dip below $25 I'm pushing all in.

My guess is def sub $70, for a few months, until inventories respond. But wow sell off centeral

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Some companies may be blowing smoke.

But a lot aren't.

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Bull shat. Any company with half a brain didn't go out and finance their projects on $80 oil. Some may have, but A LOT didn't.

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Anybody with half a brain will realize that if you loose 30% of your cash flow, there will be changes. That could be as simple as delay or as complex as stop, but to say nothing changes is laughable.

Tanking hard today.

I'm going to go out on a limb here and say that you could very well see a very quick 1.5-2.5% dip immediately after the OPEC announcement on the 27th.

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Some companies may be blowing smoke.

But a lot aren't.

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Bull shat. Any company with half a brain didn't go out and finance their projects on $80 oil. Some may have, but A LOT didn't.

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Anybody with half a brain will realize that if you loose 30% of your cash flow, there will be changes. That could be as simple as delay or as complex as stop, but to say nothing changes is laughable.

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Never said changes won't happen, nor was that what I was referring to.....

Just broke 73

Im still buying. I have $100,000 in capital looking to get put to use, and I think over 10-15 years, HAL, SDRL, Atwood, etc could be a great purchase.

Broke $72

Damn

Looks like no production cuts

About to break 71 super thin trading

Broke 71.

With a 4% drop in crude, already destroyed oil stocks should lose another 10% tomorrow!

Happy thanksgiving!

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Broke 71.

With a 4% drop in crude, already destroyed oil stocks should lose another 10% tomorrow!

Happy thanksgiving!

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i don't think this is the worst yet at least in terms of short term volatility. The question is, how and when do you start playing this by going long on some of the beat down stocks and/or oil. Any good oil etfs out there?

On Fast money they talked about somebody buying a huge amount of puts on the XLE. They knew something

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On Fast money they talked about somebody buying a huge amount of puts on the XLE. They knew something

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Glencore for example has been shorting crude for a while now. I am surprised that this was not priced more into the market. No one expected opec to cut production.

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On Fast money they talked about somebody buying a huge amount of puts on the XLE. They knew something

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Amazing how those huge option plays usually predict the future. Oh, to have access to inside info...

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On Fast money they talked about somebody buying a huge amount of puts on the XLE. They knew something

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http://papers.ssrn.com/sol3/papers.cfm?abstract_id=968237

Sub $70

Furkkkkkkkkk if only I had bought in 3 months later

This ain't stopping

Sub 69