Damn. T&P TBL. Hopefully you got a fair severance.
Houston..we have a problem....
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Last: 7 hrs ago by Caliber
TBL - Wishing you the best of luck!
Just heard about some layoffs at Goodrich today.
Good luck TBL. Love some of the challenges of O&G but definitely weighing the options of switching industries before being left out in the cold.
Damn that sucks. Hope you find something. I think a lot of us are growing anxious, regardless of performance. Five people on my team and easily the worst performance is the only girl... I'm sure she won't see the ax.
Thanks folks! It might be good that I got laid off now before the rest of the people. I will be able to try and snag a new gig before the masses start applying for the same jobs.
I know things will work out. They always do...
I know things will work out. They always do...
quote:
Thanks folks! It might be good that I got laid off now before the rest of the people. I will be able to try and snag a new gig before the masses start applying for the same jobs.
I know things will work out. They always do...
Friend of mine went to work for Kuwait. Said he wasn't waiting until the masses where after those jobs nobody wants.
quote:I am in the new plaza buildings they just bought...
Foamcows-
Which office are you in?
For those that are non Halliburton, we recently built two new office buildings up by the airport for around 150 million or so. For the past 3 months they have been working on the courtyard which has fountains, newly planted trees and a large lake... the entire time they were working on it I wondered how much it was costing and what else we could have done with that money instead of having the fountains...
quote:quote:I am in the new plaza buildings they just bought...
Foamcows-
Which office are you in?
For those that are non Halliburton, we recently built two new office buildings up by the airport for around 150 million or so. For the past 3 months they have been working on the courtyard which has fountains, newly planted trees and a large lake... the entire time they were working on it I wondered how much it was costing and what else we could have done with that money instead of having the fountains...
Wow, what a waste.
quote:My company is also building a second building as we are "out of space." I wonder how out of space we will be come July when everyone is supposed to move. Additionally the executives purchased ridiculous amounts of art to decorate our first building we moved into 18 months ago. Every time I saw a new piece of art last year all I could think about were raises/bonus money being wasted.quote:I am in the new plaza buildings they just bought...
Foamcows-
Which office are you in?
For those that are non Halliburton, we recently built two new office buildings up by the airport for around 150 million or so. For the past 3 months they have been working on the courtyard which has fountains, newly planted trees and a large lake... the entire time they were working on it I wondered how much it was costing and what else we could have done with that money instead of having the fountains...
For the older folks in the business are there any predictors to layoffs? Warning signs?
We didn't have any layoffs in 2009, but with how things are headed I could see it coming to that.
For example we had 7 contractors working on a 14 month project that is wrapping up at the end of April. We got notice today that all but 2 who are critical were let go. So the work of the five contractors let go will now shift to employees for the last 3.5 months.
We didn't have any layoffs in 2009, but with how things are headed I could see it coming to that.
For example we had 7 contractors working on a 14 month project that is wrapping up at the end of April. We got notice today that all but 2 who are critical were let go. So the work of the five contractors let go will now shift to employees for the last 3.5 months.
Very interesting thread. I read all 37 pages. Good luck to those of you going through this.
This makes me glad I live in Dallas in what is almost a completely "bust proof" industry.
This makes me glad I live in Dallas in what is almost a completely "bust proof" industry.
quote:I'm laughing because Putin really is BSC.quote:I think the Tom Clancy-esque geopolitcal aspect stops that from happening. Venezuela, Russia, Nigeria and several other large fairly powerful (at least on a global scale) countries cannot survive with oil that low. I wouldn't put it past oil Putin to start sabotaging Saudi o&g assets, and the SOB is crazy enough to invade Poland or hell maybe even bomb Saudi to get the prices up.
Jeff has the right idea. The Saudis saw that the quick plunge and rebound in 2008-2009 had no lasting impact on their competitors and political foes. They are determined to play the long game and will keep supply up as necessary to ensure that prices remain under $60'for a couple of years. Maybe even lower and longer.
quote:Government employee?
Very interesting thread. I read all 37 pages. Good luck to those of you going through this.
This makes me glad I live in Dallas in what is almost a completely "bust proof" industry.
Drugs.
quote:PBM
Drugs.
Prostitution
quote:
Very interesting thread. I read all 37 pages. Good luck to those of you going through this.
This makes me glad I live in Dallas in what is almost a completely "bust proof" industry.
Titter or beer distribution?
quote:
Very interesting thread. I read all 37 pages. Good luck to those of you going through this.
This makes me glad I live in Dallas in what is almost a completely "bust proof" industry.
Works from home. Sales... Trust me, we can smell our own.
I already posted my industry above, but yes and yes.
The ME cannot hold prices down. They don't have the excess capacity. Only a recession will do that. Again, someone post some sort of evidence that we are oversupplied to the point that justifies a 50% haircut. It doesn't exist.
People are selling oil for that price and nobody is left unsupplied - that justifies it.
A recession may be coming
I work for a supermajor in their mega-projects group. I'm currently in Canada and the project I'm on isn't looking so hot. I was asked last week to rotate to Australia to finish a HUGE project there. I told them I would do it, but the next couple of months are going to not be much fun. Wife is supportive of this due to the global market and current job prospects. Guess I should be thankful for having a job at this point.
Oil is an inelastic good. Supply swings that are short or in excess of demand can have a pretty profound effect on price.
This is a copy/paste from another poster on the politics board regarding possible recession. Thoughts?
quote:
I think US oil production has certainly added production capacity that wasn't there 10 years ago but I do not think the over supply issue is 100% to blame for prices. Other economic indicator commodities are dropping as well. I think there is a big lack of demand, pointing to recession, and the folks that just spent trillions of dollars to spur inflation don't want to recognize it.
quote:
I work for a supermajor in their mega-projects group. I'm currently in Canada and the project I'm on isn't looking so hot. I was asked last week to rotate to Australia to finish a HUGE project there. I told them I would do it, but the next couple of months are going to not be much fun. Wife is supportive of this due to the global market and current job prospects. Guess I should be thankful for having a job at this point.
Hope you make it through this TKE. Good sign you should if they're sending you over there. Much easier to lay you off than go through the visa/relo process.
quote:
I work for a supermajor in their mega-projects group. I'm currently in Canada and the project I'm on isn't looking so hot. I was asked last week to rotate to Australia to finish a HUGE project there. I told them I would do it, but the next couple of months are going to not be much fun. Wife is supportive of this due to the global market and current job prospects. Guess I should be thankful for having a job at this point.
Surmont and APLNG?
My guess was Kitimat (Apache is in the process of selling their share) and Gorgon or Wheatstone.
quote:
My guess was Kitimat (Apache is in the process of selling their share) and Gorgon or Wheatstone.
You at the same super?
Just recently read about Apache getting out of LNG.
http://fuelfix.com/blog/2015/01/12/investment-firm-lays-off-150-employees-from-oil-field-companies/
quote:
A handful of oil field service companies owned by Houston-based OFS Energy Fund have laid off about 150 employees in Texas, Louisiana, Oklahoma and elsewhere as oil prices have crashed, the firm's managing partner said.
I think 2nd quarter of this year will be the ugliest. I don't think prices will have recovered enough and companies will continue their slow downs.
I know we are approaching things on a quarter by quarter basis rather than a FY one, and I bet other companies may do the same. Q2 is looking bleak.
I know we are approaching things on a quarter by quarter basis rather than a FY one, and I bet other companies may do the same. Q2 is looking bleak.
I wonder what the net affect of oil drop, and the impact on jobs and growth in the US will show up next quarter.
Oil seems to be a falling knife.
Oil seems to be a falling knife.
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