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Houston..we have a problem....

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Red Rover
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In reply to dallasag12 • 9:29p, 6/17/21
AG
dallasag12 said:
As the industry picks back up I'm restarting my search to escape Midland. Wife and I have been out here longer than we would have liked and want to get back to DFW (San Antonio would also work). Reservoir engineer with about 8 years of experience with some of that being in ops.

Would it be best to contact a recruiter or just peruse the LinkedIn postings that seem to be picking up?


https://www.demac.com/job-opportunities/

If you wanted to look into the consulting route. President and CEO are both Ags.
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LostInLA07
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In reply to CoachRTM • 9:43p, 6/17/21
AG
CoachRTM said:
Energy Transfer is dipping their toes in the "flexible schedule" pool.

You can elect to do a schedule of 9 hour days on Monday-Thursday, and then work a 4 hour day on Friday. It is pitched as a temporary "summer schedule" to allow for an early start to the weekend, but it feels like they know they're falling behind and need to adjust to the standard 8 hours a day at the office schedule and they're testing it out as minimally as possible. Especially since they announced it right after they published the results of the company-wide survey. Morale is pretty low and I know more than a couple of people looking for jobs elsewhere.


I thought that was the "crap" standard schedule in Houston with the standard being every other Friday off.
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Ezra Brooks
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In reply to LostInLA07 • 7:33a, 6/18/21
AG
LostInLA07 said:
CoachRTM said:
Energy Transfer is dipping their toes in the "flexible schedule" pool.

You can elect to do a schedule of 9 hour days on Monday-Thursday, and then work a 4 hour day on Friday. It is pitched as a temporary "summer schedule" to allow for an early start to the weekend, but it feels like they know they're falling behind and need to adjust to the standard 8 hours a day at the office schedule and they're testing it out as minimally as possible. Especially since they announced it right after they published the results of the company-wide survey. Morale is pretty low and I know more than a couple of people looking for jobs elsewhere.


I thought that was the "crap" standard schedule in Houston with the standard being every other Friday off.
It's been the base schedule at my company since before I started there 9 years ago. I like it, even more than that 9/80, but I understand why some prefer the every other Friday standard.

It is not however an appropriate response to a workforce calling for "more flexibility".
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Comeby!
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9:23a, 6/18/21
AG
I agree with the need for more flexibility in the workplace, especially coming off a pandemic but I'll caution being too squeaky about this in the workplace (Texags, excluded of course). HR and hiring managers are getting flooded with resumes right now. Also remember there can't be custom schedule for certain folks when managing an organization: pick and choose lunch times, early release, etc
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DripAG08
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9:56a, 6/18/21
AG
What is going on with the time spreads in oil? Are we really short oil in Cushing like they're showing?
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Gordo14
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In reply to DripAG08 • 12:37p, 6/18/21
AustinAg008 said:
What is going on with the time spreads in oil? Are we really short oil in Cushing like they're showing?


Basically. A lot of people think Cushing is going to be at tank bottoms in a few months. Traders seem very bullish right now even after it's climbed the way it has.
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CaptnCarl
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In reply to Comeby! • 1:42p, 6/18/21
AG
Comeby! said:
I want to know who in tech is hiring all these petroleum engineers, geologists, landmen and regulatory techs so I can put in an app.
Curious as well. I know several very qualified engineer and finance types looking for work.
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thepartygoat
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In reply to CaptnCarl • 2:37p, 6/18/21
AG
CaptnCarl said:
Comeby! said:
I want to know who in tech is hiring all these petroleum engineers, geologists, landmen and regulatory techs so I can put in an app.
Curious as well. I know several very qualified engineer and finance types looking for work.
Had a colleague and an ex CVX college bud transfer to AWS in Houston.
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Killin Me Smalls
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In reply to thepartygoat • 3:04p, 6/18/21
AG
thepartygoat said:
CaptnCarl said:
Comeby! said:
I want to know who in tech is hiring all these petroleum engineers, geologists, landmen and regulatory techs so I can put in an app.
Curious as well. I know several very qualified engineer and finance types looking for work.
Had a colleague and an ex CVX college bud transfer to AWS in Houston.
Accenture Industry X

https://www.accenture.com/us-en/insights/industry-x-index

DM me if interested. We are currently hiring...open roles in Intelligent Asset Managment, RBI, Reliability, Mechanical Integrity, capital projects, and edge/IIOT.
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Engine10
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In reply to Killin Me Smalls • 9:22p, 6/18/21
AG
I was in that world for another consultant for a long time! Left for Fortune 500 BD team a few years back, but curious what you are looking for. I'll pm.
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dallasag12
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In reply to Killin Me Smalls • 6:06a, 6/19/21
AG
Killin Me Smalls said:
thepartygoat said:
CaptnCarl said:
Comeby! said:
I want to know who in tech is hiring all these petroleum engineers, geologists, landmen and regulatory techs so I can put in an app.
Curious as well. I know several very qualified engineer and finance types looking for work.
Had a colleague and an ex CVX college bud transfer to AWS in Houston.
Accenture Industry X

https://www.accenture.com/us-en/insights/industry-x-index

DM me if interested. We are currently hiring...open roles in Intelligent Asset Managment, RBI, Reliability, Mechanical Integrity, capital projects, and edge/IIOT.


Any insight to the Energy practice there at Accenture? Saw a few openings that I am very interested in. If one were to join the energy practice could they eventually pivot out if they ended up wanting to?
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Killin Me Smalls
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In reply to dallasag12 • 6:21a, 6/19/21
AG
Easy to pivot. All about skills and demand. If you have/build technical skills that translate to other industries, you can span industries based on demand.
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Comeby!
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In reply to Killin Me Smalls • 11:59a, 6/19/21
AG
Not so easy for petroleum engineers and geologists. Not when competing with computer engineers and computer science in tech companies. These petro-techs especially those with over 10 years experience are essentially pot commuted. Their best bet is consulting, field service or contractors supporting operators.
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HouAg12
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In reply to dallasag12 • 12:35p, 6/19/21
AG
Energy Strategy practice is strong. It's roots are from Schlumberger Business Consulting
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ToddyHill
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9:37a, 6/21/21
AG
I assume this is a good thing for the Oil Industry? (I'm not an Oil expert by any stretch of the imagination. My interest is that I own stock in both companies).

Oil Futures & Houston
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atmtws
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12:54p, 6/21/21
AG
WTI @ $73.91

I'm gonna get two King Ranch F250s with two matching Nautiques!
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4:34p, 6/21/21
tommyjohn
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7:36p, 6/21/21
Morale must be great around the office.

They going to sublet a few of the buildings on that fancy campus?
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Charlie Murphy
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In reply to Killin Me Smalls • 9:23a, 6/22/21
Killin Me Smalls said:
thepartygoat said:
CaptnCarl said:
Comeby! said:
I want to know who in tech is hiring all these petroleum engineers, geologists, landmen and regulatory techs so I can put in an app.
Curious as well. I know several very qualified engineer and finance types looking for work.
Had a colleague and an ex CVX college bud transfer to AWS in Houston.
Accenture Industry X

https://www.accenture.com/us-en/insights/industry-x-index

DM me if interested. We are currently hiring...open roles in Intelligent Asset Managment, RBI, Reliability, Mechanical Integrity, capital projects, and edge/IIOT.
I am, but dont have DM. E-mail?
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Killin Me Smalls
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In reply to Charlie Murphy • 9:37a, 6/22/21
AG
killinmesmalls22


gmail
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Theophrastus
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3:13p, 6/22/21
So I am about to do a final interview for a position with a well known offshore driller... any risks on the offshore drilling side? I worked 10 years offshore from 2006-2015 before getting laid off; since then I've been with a large services organization.

It will likely a big pay increase, but I am more worried about job security. Have things settled with the offshore industry sufficiently? Or is there another market tank on the horizon in 1-2 years?
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AgLA06
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In reply to Theophrastus • 3:52p, 6/22/21
AG
Theophrastus said:
So I am about to do a final interview for a position with a well known offshore driller... any risks on the offshore drilling side? I worked 10 years offshore from 2006-2015 before getting laid off; since then I've been with a large services organization.

It will likely a big pay increase, but I am more worried about job security. Have things settled with the offshore industry sufficiently? Or is there another market tank on the horizon in 1-2 years?
I'm not in the offshore game anymore, but I'm not sure how much less / leaner it could get at this point. There's got to be a lot of projects ready to go sitting on the shelf. With $70 oil and shale being smoke and mirrors, it's got to be getting close to kicking off.
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one MEEN Ag
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In reply to Theophrastus • 3:54p, 6/22/21
AG
No one knows what two years out will look like. If you're looking for jobs in the oil and gas industry still, now would be the time to swing for the fences though.

OPEC+ is probably overplaying how much reserve capacity they have. Shale is going to struggle to grow as it learns to drill without without PE to burn.

There's a high likelihood that OPEC+ slowly soaks up the demand, and then when they can't anymore we see a spike that won't be brought down for a while.

How long do you think a post COVID celebration will last? 2 years as people explode into travel? Who knows.
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tommyjohn
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8:46p, 6/22/21
Not sure how much worse offshore drilling contractors could have had it over the past 5-6 yrs. unless they just ceased to exist.


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Wocka Wocka
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In reply to Theophrastus • 10:23p, 6/22/21
AG
Theophrastus said:
So I am about to do a final interview for a position with a well known offshore driller... any risks on the offshore drilling side? I worked 10 years offshore from 2006-2015 before getting laid off; since then I've been with a large services organization.

It will likely a big pay increase, but I am more worried about job security. Have things settled with the offshore industry sufficiently? Or is there another market tank on the horizon in 1-2 years?

In what facet of the operation? HR, Legal, Finance, Operations, Engineering?

I can say from experience, everyone is operating with extremely thin headcounts. Rigs which use to have five individual shorebased support personnel now have one.

There will also be mass consolidation in the near future. NE has already acquired PACD. DO is on the blocks next apparently as PACD's former CEO has transitioned to DO with the plan to sell the company. RIG is looking to scoop up SDRL's floating assets, while VAL will more than likely get their jack ups.
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Charlie Murphy
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In reply to Killin Me Smalls • 7:19a, 6/23/21
sent. thanks
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dallasag12
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In reply to Killin Me Smalls • 2:02p, 6/23/21
AG
Sent
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JD Shellnut
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5:02p, 6/23/21
AG
https://ohiocapitaljournal.com/2021/06/21/endangered-species-to-get-a-reprieve-under-biden-administration-plans/

Will make it harder to get permits for pipelines and other infrastructure.
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Dreigh
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In reply to JD Shellnut • 11:08a, 6/24/21
Drifter. said:
https://ohiocapitaljournal.com/2021/06/21/endangered-species-to-get-a-reprieve-under-biden-administration-plans/

Will make it harder to get permits for pipelines and other infrastructure.


Yeah, I'm wondering what material effect this could have on the Texas side of the Permian.
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the_phoenix612
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In reply to AgLA06 • 2:50p, 6/24/21
AG
AgLA06 said:
Theophrastus said:
So I am about to do a final interview for a position with a well known offshore driller... any risks on the offshore drilling side? I worked 10 years offshore from 2006-2015 before getting laid off; since then I've been with a large services organization.

It will likely a big pay increase, but I am more worried about job security. Have things settled with the offshore industry sufficiently? Or is there another market tank on the horizon in 1-2 years?
I'm not in the offshore game anymore, but I'm not sure how much less / leaner it could get at this point. There's got to be a lot of projects ready to go sitting on the shelf. With $70 oil and shale being smoke and mirrors, it's got to be getting close to kicking off.
Deepwater GOM is fixing to be the main focus of capex for a whole lot of operators over the next few years. Shales is crap and everyone who can find a buyer is getting out of it. There aren't a lot of places globally with lower breakevens than the GOM at this point and the capex has to go somewhere.
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sniperag
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In reply to Theophrastus • 6:36p, 6/26/21
I just left an offshore drilling rotational position a few months ago (2013-2021). The last five years has been a series of pay cuts, reduced benefits, bonus reductions, layoffs, mergers industry wide. I was fortunate to make it through everything and leave on my own accord, many coworkers were not that lucky. At the time I entered there was a lot of exploratory drilling going on which supported the high numbers in the floater fleet, great jobs when demand is good. Many floaters have been retired recently which should help with the long standing oversupply.

Not many exploration programs when I left, more so development in known breakeven assets with easy tie back capability or Guyana. I think there is going to be additional mergers, something to keep in mind is where those plays will be and what effect that will have on your position. Worse days are probably over but I highly doubt a return to to the good old days without a major supply disruption.

I would also be preferable to a company with good exposure to Guyana, and diversified client list of super majors. If you have any specific questions feel free to message me. Good luck!
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HeightsAg
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In reply to the_phoenix612 • 7:01p, 6/27/21
the_phoenix612 said:
Deepwater GOM is fixing to be the main focus of capex for a whole lot of operators over the next few years. Shales is crap and everyone who can find a buyer is getting out of it. There aren't a lot of places globally with lower breakevens than the GOM at this point and the capex has to go somewhere.
Disagree with your take on Shale. Shale is projected to generate $60B of free cash flow for US operators this year. And while it will never beat deepwater on break evens, the short cycle nature of the investment, provided it is on good rocks, will remain attractive especially as volatility accelerates.
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AgLA06
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In reply to HeightsAg • 7:21p, 6/27/21
AG
Sure. It's just the trillions of PE and investor cash lit on fire by quack shack companies with bogus plans similar to ponzi schemes that generally lead to many not believing it viable long term compared to conventional or subsea.
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HeightsAg
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In reply to AgLA06 • 11:37p, 6/27/21
Sure that's how it used to be but shale has matured and those ponzi scheme companies are no longer able to attract capital. Deepwater economics may look great on paper but the time horizon required to break even for the full cycle investment makes it less attractive. There's a reason why CVX and COP is plowing money into the Permian rather than GOM.

Not saying that this is the right thinking but most banks and even operators have little desire to tie a significant amount CAPEX up for 10+ years because the mentality is that who knows what the demand and price will look like at that point in time. Speed and agility trumps all and for that shale wins.
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Cyp0111
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In reply to HeightsAg • 9:12a, 6/28/21
You have 3/4 of the companies trying to promote fringe plays to make a buck on the land flip. That was largely PE induced and dependent on public independents continuing to buy everything.

You get scenarios like Scoop/Stack where the valuation was so stretched it was not worth 5% of original investment valuation. Austin Chalk in Louisiana another example.

Since the industry is moving towards cash flow and production with a reasonable inventory you're seeing all models change as PE is combining entities and dedicating to scale to attract a buyer.

Example- what Colgate and others are doing vs. previous iterations where you drill a handful off offsets, open them up and flip.
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