Comeby is completely correct. Blue Diamond for you

Got in for $1,300/acre too...

COP layoffs occurring next week. Morale is terrible over there right now.

Knew about the CoP lay-offs for a while, not good for the ones I know. What is interesting is the huge draw down of 12.1 million barrels vs. an expected increase of 200,000. Biggest draw down since 1985 I think. Just when I thought I kind of knew what was going on, BAM.

yeah the COP layoffs have been announced for some time, everyone's just waiting for the doomsday ax to finally swing next week. Managers/Supervisors got marching orders & cut lists yesterday for their respective departments & lower level employees, although they themselves dont know if they are on chopping block until the dirty work is done.

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You're talking to a reservoir engineer who has spent time in completions and analyzes data all day everyday and takes into account those variances.... I wouldn't have made this statement 5 years ago but the abundance of data has become too much to ignore.

If you have water constraints, I understand that argment. That hasn't been an issue for most operators I analyze - in fact, none of the completions engineers I have debated with have used that as an argument. The argument always has to do with proppant transport (in the case of gel) and loss of conductivity or sand flowback (in the case of high strength proppant). I would have agreed with them prior to the abundance of slickwater and low strength sand data becoming public.

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So what you are saying is hindsight's 20/20. I'm telling you as someone who's been in a completion group at the forefront of an unconventional play who had no blueprint. We relied on analytical engineering problem solving methods and completion testing and progressions to determine how our next pad(s) would be completed. Our results are the 'public data' you are talking about. ...But go ahead and stay at another holiday inn express.

My point exactly - we didn't know what worked before we did it. Now we have data proving slickwater works but many people (often times more senior) still argue as if we don't have the empirical data.

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yeah the COP layoffs have been announced for some time, everyone's just waiting for the doomsday ax to finally swing next week. Managers/Supervisors got marching orders & cut lists yesterday for their respective departments & lower level employees, although they themselves dont know if they are on chopping block until the dirty work is done.

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Oh that sucks... do the dirty work for them and then get let go? I'd be pissed.

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COP layoffs occurring next week. Morale is has been terrible over there right now.

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FIFY

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COP layoffs occurring next week. Morale is has been terrible over there right now.

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FIFY

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i can only imagine, im only going by my conversations with folk over there. Its definitely not a recent feeling, thats for sure.

I don't think there's any question slick water works. We almost put a major Frac company out of business in East Texas years ago when we cut gel from all our Freestone wells (everyone else followed our lead).
But like I said, you don't know what you don't know.

This weeks big draw was largely cause by the GOM Storm last week.... Imports could not come in and production shut in....

Does it help the storage situation? Yes

But we will begin building crude again next week in all likelihood

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yeah the COP layoffs have been announced for some time, everyone's just waiting for the doomsday ax to finally swing next week. Managers/Supervisors got marching orders & cut lists yesterday for their respective departments & lower level employees, although they themselves dont know if they are on chopping block until the dirty work is done.

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Oh that sucks... do the dirty work for them and then get let go? I'd be pissed.

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happens all the time. Back in the '86 rounds I knew a manager that had to spend an entire day laying off almost 30 guys, brutal day for all ..only to have his boss walk in at 6PM and lay him off.
Unbelievably chicken s$it.. Really no excuse to put someone thru this. But then ..nobody cares...

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This weeks big draw was largely cause by the GOM Storm last week.... Imports could not come in and production shut in....

Does it help the storage situation? Yes

But we will begin building crude again next week in all likelihood

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I know that, but not that much production was actually shut in. When you forecast an increase of 200+ knowing about the storm and likelihood of shut ins and you get the draw you got, yeah, these guys forecasting are getting away with murder.
Agree with Comeby. Murphy did almost all their fracs with slick water in the Eagleford and I know our frac guys hated it but it was what it was and it worked well for them as I did a ton of D-fit analysis for them and Swift, EP back during that time.

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COP layoffs occurring next week. Morale is has been terrible over there right now.

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FIFY

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It has been a scary place to work for the last 2 years

Agree 100%.... that's been my argument. That I haven't seen an unconventional play that "needs" gel. But some engineers will still argue you need it based on theory alone. Obviously there are exceptions but I haven't seen any large scale exceptions. Would love to know where they are if anyone knows of any.

That all makes sense and I believe that's the reason for the draw.... but didn't the analysts know that? Why were they so far off.

Sad to see the layoffs back in full swing. Makes business difficult when no one tells business partners their contact(s) are no longer at the company.

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COP layoffs occurring next week. Morale is has been terrible over there right now.

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FIFY

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It has been a scary place to work for the last 2 years

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I don't work directly in O&G, but contract work for majors.

It's always fun to hear about another project going from an almost 'guaranteed' 9 months of work to 9 days because they cut the contract from full FEED to 'eh, finish up' over the weekend.

And if you don't have a lifeboat to jump to (another project), out the door you go. It is not fun. And let me tell you how totes excited you are to help out the company....

~egon

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yeah the COP layoffs have been announced for some time, everyone's just waiting for the doomsday ax to finally swing next week. Managers/Supervisors got marching orders & cut lists yesterday for their respective departments & lower level employees, although they themselves dont know if they are on chopping block until the dirty work is done.

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Oh that sucks... do the dirty work for them and then get let go? I'd be pissed.

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happens all the time. Back in the '86 rounds I knew a manager that had to spend an entire day laying off almost 30 guys, brutal day for all ..only to have his boss walk in at 6PM and lay him off.
Unbelievably chicken s$it.. Really no excuse to put someone thru this. But then ..nobody cares...

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Pretty sure i saw that on House of Cards. Or maybe it was Game of Thrones. Either way, point made.

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yeah the COP layoffs have been announced for some time, everyone's just waiting for the doomsday ax to finally swing next week. Managers/Supervisors got marching orders & cut lists yesterday for their respective departments & lower level employees, although they themselves dont know if they are on chopping block until the dirty work is done.

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Oh that sucks... do the dirty work for them and then get let go? I'd be pissed.

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happens all the time. Back in the '86 rounds I knew a manager that had to spend an entire day laying off almost 30 guys, brutal day for all ..only to have his boss walk in at 6PM and lay him off.
Unbelievably chicken s$it.. Really no excuse to put someone thru this. But then ..nobody cares...

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I guess it just depends. I wouldn't want someone else to lay my guys off for me regardless if I'm also getting led out after the fact. Wouldn't be right. They deserve better than that.

It sucks either way for the manager so you might as well do the right thing.

agreed

I think this is illustrated well by the film Margin Call and might be what you were thinking of

Cruel *****. I love it.

good point. Also: The Dark Knight features this same model of uhh.. "layoffs"

Anyone hear more about the Apache news today?

Talon - I read all their stuff and we checked it against the work we have done out there. If their geologic concept is correct they did real good. The play is stacked Barnett and Woodford, both wet gas. Wolfcamp/Bone Spring are upside and not delineated well down there, mostly because it's not as good as the stuff back to north Reeves, Winkler, Ward counties.

There will be considerable infrastructure expense that far south. But, they got the acreage pretty cheap so they can pay for it.

It's a nice asset to have, especially when you are Apache and already have a bunch of good stuff with good cash flow.

I posted on the job network board but had no response so I thought may have better luck here.

I am looking for contacts at engineering firms in San Antonio that have experience in tank batteries, pipelines and gathering systems. I may have some work opportunities.

Thanks.

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Talon - I read all their stuff and we checked it against the work we have done out there. If their geologic concept is correct they did real good. The play is stacked Barnett and Woodford, both wet gas. Wolfcamp/Bone Spring are upside and not delineated well down there, mostly because it's not as good as the stuff back to north Reeves, Winkler, Ward counties.

There will be considerable infrastructure expense that far south. But, they got the acreage pretty cheap so they can pay for it.

It's a nice asset to have, especially when you are Apache and already have a bunch of good stuff with good cash flow.

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That's awesome to hear. Going to be some opportunities for people out there hopefully. Let me know if they need midstream, I got their back

I may be able to help point you to some guys we use. shoot me an email MNeezyAg at gmail

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I posted on the job network board but had no response so I thought may have better luck here.

I am looking for contacts at engineering firms in San Antonio that have experience in tank batteries, pipelines and gathering systems. I may have some work opportunities.

Thanks.

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I have a few contacts for you as well. One is an Aggie owned company in Houston. If you need the help in Appalachia, I'm still able to get you anything you need.

hmmmm...wonder if we point him the same direction...