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Sorry to hijack the thread a little bit, but I've always been amazed at how smart people can get duped into that multi-level bull****.

I can't tell you how many aggie friends and wives of aggie friends I've got who are constantly bombarding facebook trying to throw nail-wrap parties, sell advocare, or whatever. It's insane.. I think i read somewhere that Mary Kay has the highest level of "distributors" who turn an overall profit, and that's like .3% or something.

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Being an Aggie really is no strong indicator for one's intelligence, especially when it comes to "business" opportunities/finances. I've found that most people make pretty dumb decisions when it comes to money.

Don't get me wrong, I love my alma mater and generally have respect for fellow grads, but there are still some pretty dumb folks that graduate from A&M.

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Oil Tycoon Harold Hamm Has Lost More Than Half His Fortune In 3 Months..


I guess unwinding 100% of those hedges may not have been a good thing...

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I was baffled when he did this. I still can't imagine how he thought it was a good idea. Its been stated for months that OPEC (or just the Saudis) was making a play for market share, and even logically you would have to assume that a month or two of basement crude prices wouldn't accomplish much in that department. Even so, to dump the hedges he had would only be justified if crude rallied to a point that never would have happened. I'm not an expert by any means, but I still can't help but think it was an awful awful business decision.

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I have a friend that has branched off into some energy drinks with acai berries... He's never made a dime off of it yet he still tries to get others to use it.

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I have one friend that plays in the Advocare world that does ok and I respect the hell out of the way he's done it.

He's used the products for years, he sells the products to friends/family/people that want them, but as far as I know he's never tried to get someone to sell it "under" him without people specifically asking him if they can sell it. He also doesn't push the product heavily as something it isn't....he'll give people some to try and if they like it, they can buy some more, and if they don't no one is out anything. Just in product sales he's built up a nice little pipeline of secondary income to supplement his teaching and in doing so makes enough to offset what he had been making coaching HS football. HIs goal was to make enough to replace the coaching income (and just be a teacher) so that he could actually see his family and spend time with his kids. He's done so.....

He treats it like what it is; secondary income, and he's not in it to get rich quick.

I'm loving this, Ragoo. I'm very happy to be at this firm but more importantly very happy to be able to contribute my expertise.

Harold Hamm is in the midst of a multi billion dollar divorce settlement. Maybe he'd rather see the cash burn rather than give it to his ex wife.

That's pretty much the rumor floating around....

I thought the ruling already came out and he owes her like $900MM? With like half due by end of 2014.

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I thought the ruling already came out and he owes her like $900MM? With like half due by end of 2014.

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This... Divorce is already settled. Something like 900MM cash and a crap load of real estate.

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Harold Hamm is in the midst of a multi billion dollar divorce settlement. Maybe he'd rather see the cash burn rather than give it to his ex wife.

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Can't be true... Especially considering shareholder & BOD involvement

I just scraped my 2'x6' "Oilfield Trash" sticker off my back window.

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Does this mean we can stop seeing those stupid "oil field wife" stickers on vehicles? Might find some good deals on boats, 4-wheelers, etc. in the coming months.

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What? They have those?

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I work in pipeline construction, how worried should I be by all this doom and gloom? This thread has me freaking out.

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Same here. I see the comments about how there aren't as many RFP's coming out, but my company hasn't seen any sort of slow down in jobs to bid right now. Also, I'm hearing a lot of projects are about to crack open in West Texas, where 2015 will be huge. I haven't been in this industry very long (3-4 months), so is there reason for concern on my end?

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I can't speak to the major interstate pipelines but I work for a midstream company and we will still have plenty of work to be done on our existing gathering systems and/or distribution networks on the coast. We don't actually own any long distance transmission lines but we are constantly putting pipe in the ground to connect us to all sorts of other options.

I think my boss is kind of excited at the thought of not having to be constantly working on $150MM+ capital projects and get back to optimizing our existing assets.

Talon also brings up some really good points about replacing old systems/pipelines which I think probably falls under my optimizing existing assets comment.

I work for the lightning bolt and we sure as heck are not slowing down.

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I work in pipeline construction, how worried should I be by all this doom and gloom? This thread has me freaking out.

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Same here. I see the comments about how there aren't as many RFP's coming out, but my company hasn't seen any sort of slow down in jobs to bid right now. Also, I'm hearing a lot of projects are about to crack open in West Texas, where 2015 will be huge. I haven't been in this industry very long (3-4 months), so is there reason for concern on my end?

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I can't speak to the major interstate pipelines but I work for a midstream company and we will still have plenty of work to be done on our existing gathering systems and/or distribution networks on the coast. We don't actually own any long distance transmission lines but we are constantly putting pipe in the ground to connect us to all sorts of other options.

I think my boss is kind of excited at the thought of not having to be constantly working on $150MM+ capital projects and get back to optimizing our existing assets.

Talon also brings up some really good points about replacing old systems/pipelines which I think probably falls under my optimizing existing assets comment.

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Since I'm no longer selling pipeline construction services, I'm more than happy to facilitate introductions up here in Marcellus/Utica and the DJ Basin. If you're interested, send me a pm with your contact and we'll talk. I'm always happy to help out fellow Ags in the industry.

Rex this morning said XOM is good a $40.

XOM would definitely buy something if it got there on the cheap.

It is really interesting. I think we are getting to a point where a lot of Midstream and transmission companies are beginning to replace equipment that has been in service since the 70s. We see a lot of RFPs if this nature.

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Does this mean we can stop seeing those stupid "oil field wife" stickers on vehicles? Might find some good deals on boats, 4-wheelers, etc. in the coming months.

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What? They have those?

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Yep....they're all over East Texas.......but that joke writes itself.

"Oilfield trash making oilfield cash"

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Harold Hamm is in the midst of a multi billion dollar divorce settlement. Maybe he'd rather see the cash burn rather than give it to his ex wife.

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Can't be true... Especially considering shareholder & BOD involvement

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Since he's the majority shareholder, it doesn't really matter. I'm sure he made what he though was a sound business decision and he probably could have convinced the BOD even if he wasn't the majority owner of the company. Even if oil stayed flat where he sold, it would have been a good move because he basically brought all that future cash flow in. For all the reasons you would hedge in the first place, it was a bad idea. I'm not familiar with CLR's financials, but creditors don't like to see companies do things like that. He just made it really tough for his company to raise capital should they need it.

The day CLR went naked, I was talking to my commodities adviser in Denver. He's an acquaintance of several OK oil & gas big wheels. He said they're the biggest gamblers you'll ever meet. He said he's tried for years to get hedging business from them, but all they do is open spec accounts.

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Does this mean we can stop seeing those stupid "oil field wife" stickers on vehicles? Might find some good deals on boats, 4-wheelers, etc. in the coming months.

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Just advertising that the cock is away from the hen house often.

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Nothing I hate more than those oilfield trash stickers. Usually in jacked up trucks with the most ridiculous mods.

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Redneck version of "pimp my ride"

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Nothing I hate more than those oilfield trash stickers. Usually in jacked up trucks with the most ridiculous mods.

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sounds like they're just being accurate. Nobody curses you for your Association sticker I hope.

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Does this mean we can stop seeing those stupid "oil field wife" stickers on vehicles? Might find some good deals on boats, 4-wheelers, etc. in the coming months.

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What? They have those?

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Unfortunately

Welp we're going to see a lot of those at repo auctions over the next year or two.

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Welp we're going to see a lot of those at repo auctions over the next year or two.

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Hope so!! I'm in an industry that increases profits as fuel prices go down. Increased profits mean increased margins means increased bonuses means new toys for me!!

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Rex this morning said XOM is good a $40.

XOM would definitely buy something if it got there on the cheap.

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Exxon has a good balance sheet as you would expect. But I would bet they are not the norm.

?

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I think my boss is kind of excited at the thought of not having to be constantly working on $150MM+ capital projects and get back to optimizing our existing assets.

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So your boss just told you to expect a slow down in work. Good to know.

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?

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I think my boss is kind of excited at the thought of not having to be constantly working on $150MM+ capital projects and get back to optimizing our existing assets.

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So your boss just told you to expect a slow down in work. Good to know.

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I would hardly call this a slow down. Replacement of existing assets, while not the sexiest work, is still plenty of work for engineers and contractors. These projects can keep project managers real busy.

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Why not just say "hey I am a hoar"

Seriously **** like this is why i never married

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Why not just say "hey I am a hoar"

Seriously **** like this is why i never married

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Don't lump all women into the oilfield wife trash.

I feel there is probably a strong correlation to those who identify or are identified with "oilfield trash" have wives who will also broadcast they are "oilfield wives".

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I work in pipeline construction, how worried should I be by all this doom and gloom? This thread has me freaking out.

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Same here. I see the comments about how there aren't as many RFP's coming out, but my company hasn't seen any sort of slow down in jobs to bid right now. Also, I'm hearing a lot of projects are about to crack open in West Texas, where 2015 will be huge. I haven't been in this industry very long (3-4 months), so is there reason for concern on my end?

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I can't speak to the major interstate pipelines but I work for a midstream company and we will still have plenty of work to be done on our existing gathering systems and/or distribution networks on the coast. We don't actually own any long distance transmission lines but we are constantly putting pipe in the ground to connect us to all sorts of other options.

I think my boss is kind of excited at the thought of not having to be constantly working on $150MM+ capital projects and get back to optimizing our existing assets.

Talon also brings up some really good points about replacing old systems/pipelines which I think probably falls under my optimizing existing assets comment.

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Thanks for the input guys! Im a QC inspector for pipeline construction. Happy to know that it may not be all doom and gloom out there.

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Welp we're going to see a lot of those at repo auctions over the next year or two.

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Yeah, people who you think are beneath you losing their jobs is great fun. Let's all have a laugh at them.