OA76 - You have any new predictions of what will happen the remainder of the year or in the near future? Appreciate the insight.

rebel06 said:

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Changing gears a little and, for those who are willing, would like to hear feedback on year end bonuses and raises in the industry. Our company (private, independent O&G company) does annual reviews in February so they are right around the corner.

Here's a summary of the last few years for our company:

-February 2015 (essentially end of 2014), small raise and bonus.

-February 2016 (essentially end of 2015), no raise or bonus but the positive was that there were no layoffs.

-February 2017 (essentially end of 2016), TBD

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-2013, 25% bonus (4 quarterly payments), normal raise

-2014, 25% bonus (4 quarterly payments), normal raise.

-In jan 2015, they announced they would switch from a quarterly bonus payout to a year end pay out.. I was laid off in July of 2015, so I got nothing (would have had two payouts by then if they didn't change)
Everyone else in CO area was laid off by Nov 2015, so essentially no one in CO got any bonus for 2015.. I have no idea if corporate paid bonus in Houston for that year or 2016.

This was for a major service company. Lay offs world wide were in the 5 figures.

I switched to commercial construction.. got a 10% bonus for 2016.

Unrelated to O&G, but where in CO are you and who do you work for if you don't mind me asking.

Looks like the guys from MRD started their own company after being acquired by Range.

http://gritog.com/

What is Sanchez Energy's reputation on this board. With today's dip, it seems like a opportunity to buy.

Corps_Ag12 said:

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Unrelated to O&G, but where in CO are you and who do you work for if you don't mind me asking.

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I work for a very small independent GC, Murray and Stafford. We lead the front range market in concrete tilt up (warehouses), it's almost 100% between north Denver metro (lafayette/loveland/boulder) and south Denver metro (Lone Tree/Centennial). Warehouse construction is at an all time high right now. Lots of shipping centers, distribution centers, sorting facilities, etc. in this day and age. (and given our local political leanings, grow houses)

For the 90s and early 2000s this company was booming doing big box retail. Those have completely vanished from the developers project lists it seems.

Wife is an Aggie said:

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Looks like the guys from MRD started their own company after being acquired by Range.

http://gritog.com/

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Yep, quite a few of the MRD guys left. Lot of hassles and corporate policies associated with larger companies that some of them did not want to deal with.

Appreciate it, have an old coworker up there in Colorado Springs that says construction is booming up in Colorado. The company he works for is apparently hiring all positions, they do typical commercial work.

62strat said:

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Corps_Ag12 said:

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Unrelated to O&G, but where in CO are you and who do you work for if you don't mind me asking.

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I work for a very small independent GC, Murray and Stafford. We lead the front range market in concrete tilt up (warehouses), it's almost 100% between north Denver metro (lafayette/loveland/boulder) and south Denver metro (Lone Tree/Centennial). Warehouse construction is at an all time high right now. Lots of shipping centers, distribution centers, sorting facilities, etc. in this day and age. (and given our local political leanings, grow houses)

For the 90s and early 2000s this company was booming doing big box retail. Those have completely vanished from the developers project lists it seems.

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for whatever reason denver is a point of entry for shipping.

Leviathan is finally sanctioned.

http://www.globes.co.il/en/article-noble-energy-commits-to-financing-leviathan-development-1001178247

Zemira said:

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Leviathan is finally sanctioned.

http://www.globes.co.il/en/article-noble-energy-commits-to-financing-leviathan-development-1001178247

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Niiiiiice

Zemira said:

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Leviathan is finally sanctioned.

http://www.globes.co.il/en/article-noble-energy-commits-to-financing-leviathan-development-1001178247

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Don't drink the Russian Vodka....it does strange things to those who do.

I just want the damn thing finished so I might get a raise before the decade ends.

I want to work on it for as long as possible seeing how it's my only project.

Anyone hear who the high bid is on the Conoco San Juan assets?

Data rooms just closed this week. No one is saying anything yet.

Wasn't the PDP value alone in the 2-3 billion dollar range?

Yeah I think it was something in that range.

RABAg04 said:

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Data rooms just closed this week. No one is saying anything yet.

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Article I read said bids were due on the 16th?

Could be, everything I hear is rumor.

RABAg04 said:

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Could be, everything I hear is rumor.

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well, articles aren't always right either.

Are there any Ags on here that work at XTO or Newfield?

Vernada said:

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Offshore contractors continue to hemorrhage. EMAS is in death throes. Bibby will almost certainly close up shop everywhere but maybe for diving in U.K.

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EMAS filing for Chapter 11.

Found this an interesting read.

Quote:

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http://oilpro.com/post/30230/beginning-end-bakken-shale-play

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Thread appears to be dying

It has gone quiet.

Rig count continues to creep up. Frac crews are getting busy. Service prices are coming back up. All on the hope the prices will hold steady.

Still plenty to talk about!

Texas A&M made the front page of the online WSJ.

https://www.wsj.com/articles/brought-down-by-long-bust-texas-oil-men-pray-for-another-boom-1488739082?tesla=y

GigemCO2008 said:

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Offshore is still pretty bloody, day rates now are going for around 225 for 6th gen, if they can get work.

I'm now on hot stacked rig, and I can see 5 drill ships in our vicinity 15 miles off Port Fouchron

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Yes, offshore is no where near recovery - it's not even certain that the bottom has been found yet.

Vernada said:

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GigemCO2008 said:

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Offshore is still pretty bloody, day rates now are going for around 225 for 6th gen, if they can get work.

I'm now on hot stacked rig, and I can see 5 drill ships in our vicinity 15 miles off Port Fouchron

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Yes, offshore is no where near recovery - it's not even certain that the bottom has been found yet.

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Watching the backlogs drop in the offshore manufacturing side is amazing. On a percent side this is worse than the 80's and there is just no end in sight. Nothing on the horizon in even REMOTELY in sight to help the deepwater side. As long as the land side is so damn cheap and easy and EFFICIENT there really is just no reason for the deepwater side to even remotely recover for years.
The carnage is really just beginning for many manufacturers. 17 will be a rough rough year.