quote:AgLA06,quote:
I have t seen it posted here yet but I heard Chevron recently announced elimination of 1500 employee positions over the next 3 months. Apparently this was based on $70 oil and there is likely to be another round of reductions based on $50 oil.
Has anyone else heard anything similar?
They are a customer of ours and we were told that everyone we deal with on the deep water side would have to reapply for their jobs. Fun times considering we are in the middle of a quote and there has been much infighting regarding requirements and specs to justify jobs. We have no idea who we will be dealing with or which factions will win out.
quote:
Who's picking up Goodrich's Eagle Ford acreage?
http://eaglefordtexas.com/news/id/154965/goodrich-petroleum-corporation-finalizing-major-eagle-ford-asset-sale/
quote:
Is it time to buy Halcon (HK)? Their CEO did a great job at Petrowhawk.
quote:
Texas production has slowed down. The peak was December with 86.9M BBLS
April was 77.5M BBLS and May 75.6M BBLS. No June numbers published yet by RRC
quote:You have heard correctly. I believe the total was 2100 (600 are contractors).
I have t seen it posted here yet but I heard Chevron recently announced elimination of 1500 employee positions over the next 3 months. Apparently this was based on $70 oil and there is likely to be another round of reductions based on $50 oil.
Has anyone else heard anything similar?
quote:
Take a quick breath.
I'm on the same side of the industry as you. I disagree with the kids part. Hell by old timers like you standards, I'm one of those kids.
It has nothing to do with age. Educated people are taking advantage of using "safety" as an excuse to guarantee their employment and I don't blame them one bit.
It starts with hiring contractors to do the lion's share of work on projects that used to be done internally in the name of cost cutting. Before you know it things are over designed and billable hours are out of control, but no one will question the real problem because safety is always the first justification thrown out. Safety is extremely important but industry standards, risk matrix, and material specs are there for a reason and it typically isn't the minimum.
The old timers are just as guilty by not calling bs. Maybe it's because retirement is just on the horizon or because everyone was making enough before it didn't matter. However, in this environment it is costing us projects and ultimately jobs when revenue can't make up the additional unneeded costs.
It isn't always company wide or just engineering either. On one of our ongoing quotes we have conflicting clarifications between client departments. Engineering recognized some requirements were over the top, but the contractual department won't budge from old written processes. Our only hope is operators will be forced to cut overlapping departments and personel (especially contractors) to minimize the layers of red tape and approval or at least ensure we only need it from our actual client.
quote:
From the RRC site:
Eagleford production per day was 1,038,176 from Jan-May 2015, down from last year.
Permian production per day was 1,278,565 from Jan-May 2015, up from last year.
On a 30 day average the Eagleford was 31 million and the Permian was 38 million.
Combine them and you are at ~70 million on a 30 day average. Condensate numbers are 266,000 in the Eagleford and 29,000 in the Permian. As was noted by Ross, the Eagleford would fall further than the Permian, and the Permian will bounce back faster than the Eagleford once prices start to firm/rebound.
quote:
The FRC fiasco fits this tangent discussion.
I looked at a CoP pipeline project, 100+ degree weather. We had to have full FRC and full PPE in a field to look at ROW. No existing pipelines, no product, no facilites, GRASS FIELD. Full.freaking.FRC
Demo-ing a station for APC now in South Texas. No gas in station, suction and discharge blinded off, station blown down and purged...FULL FRC. I guess the oxygen in the atmosphere might spontaneously combust.
quote:Well that just makes sense. After all, a school kid cutting themselves with a pair of scissors wouldn't hurt COP's TRIR rating.
In the early 2000's, someone at COP in Barltesville, OK cut themselves using a pair of scissors.
Under the banner of safety, all scissors were confiscated.
The resulting pile of scissors was donated to the local elementary schools.
Not kidding.
quote:It's still likely costs out of COP's pocket, given that the school kid would high likely be covered by COP insurance.quote:Well that just makes sense. After all, a school kid cutting themselves with a pair of scissors wouldn't hurt COP's TRIR rating.
In the early 2000's, someone at COP in Barltesville, OK cut themselves using a pair of scissors.
Under the banner of safety, all scissors were confiscated.
The resulting pile of scissors was donated to the local elementary schools.
Not kidding.
Somehow this doesn't surprise me at all.
