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Houston..we have a problem....

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Marsh
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4:14p, 9/24/24
AG
My experience with Magnolia has been that they post a job listing online several times. Each time they post, the salary or benefits seems to drop. I don't look at all of their openings but they have definitely been doing this with one of the opportunities I'd looked at. It's been a job opening for over a year at this point...

Looks like they are trying to find the lowest salary where they still get a good amount of applicants. Or they are resume farming.

I may be wrong but this has been a tactic utilized by a lot of companies recently so I don't believe I'm far off.
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nosoupforyou
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7:16a, 9/26/24
AG
CHK and SWN finally gonna close and rename to Expand Emergy

https://www.hartenergy.com/exclusives/chesapeake-southwestern-form-expand-energy-74b-deal-closes-210552
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Fuzzy Dunlop
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In reply to The Original AG 76 • 7:42a, 9/26/24
AG
The Original AG 76 said:
Having been a veteran of the mid 80's oil bust and one of the few still in the same bidness I am afraid I'm seeing a lot of signs that we are heading into another oil bust. I seriously doubt it will be anywhere near as severe as the "BUST" but its still the first one sine some mini busts in 91 and early 2000's. There is a huge glut of crude and a sliding demand. There is a glut of drilling capacity suddenly developing and we ( a MAJOR oilfield equip manufacturing company) are starting to see a very telling slow down in requestst for proposals and some " yall slow down deliveries" type messages from our customers. Of course the public info out there , huge backlogs, huge margins, record sales numbers yada yada yada are still published..JUST LIKE 1982. I remember like it was yesterday the " high level " management meeting in 82 when we were told by the VP of something that " if we dont take another order at all we have work until 1986!!! " By late 83 we were laying off and closing facilities as fast as we could.
This BOOM has been going on too damn long and has to end at some time. ALL of my fellow old timers are saying the same thing and , sadly, virtually 100% of the younger guys are completely in denial. Our corp genii are in the same mode as they were in 82 ( those 82 guys are al dead or long retired ). We have been there before and can smell it on the horizon.
This will be the last hurrah for most of us vets of the "BUST" , its still gonna take a couple of years to develop but in 2-3 years we will be right at retirement age and will be the first to go. I hope I'm wrong and the boom lasts another decade like all the corp prognosticators say BUT.....


Today is the 10th anniversary of the post that started it all.

I was living in College Station when this thread started and just 6 months to the day afterwards, I was flying in to Williston, ND to start a new job because I had been laid off in April. I was cautious that first 18 months in ND and kept enough money in the bank to rent a U-Haul and buy gas to get back home. The market started turning in 2016 and fortunately, we never had to do that.

I'm still with the same company after more than 9 years. I've moved up and recently moved back down after a reorganization. Been bought and sold and have been through some rough markets and made the cut more times than I care to think about.

The oilfield has been good to me for 25 years and I hope to make at least 15 more years and ride off into the sunset.

Let's hear what everyone else has been up to the past 10 years.
Double Talkin' Jive...
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fixer
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7:46a, 9/26/24
Looks like Saudi is ready to dump oil on the market again…
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gougler08
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7:48a, 9/26/24
AG
Still working for the same major company as I did when I got out of school (class of '08 so in Year 16 now). Been successful in navigating all the internal politics that come w/ such a large company so far and hoping to make it another 15-20 years before calling it quits.

Luckily been on the downstream side in my career so cuts haven't been as extreme, but the company has gone through another round across all business units through 2024, so it doesn't look like it's going to slow down on the rationalization anytime soon. This thread has been a great read over the years though
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SidetrackAg
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In reply to Fuzzy Dunlop • 8:10a, 9/26/24
AG
Fuzzy Dunlop said:
The Original AG 76 said:
Having been a veteran of the mid 80's oil bust and one of the few still in the same bidness I am afraid I'm seeing a lot of signs that we are heading into another oil bust. I seriously doubt it will be anywhere near as severe as the "BUST" but its still the first one sine some mini busts in 91 and early 2000's. There is a huge glut of crude and a sliding demand. There is a glut of drilling capacity suddenly developing and we ( a MAJOR oilfield equip manufacturing company) are starting to see a very telling slow down in requestst for proposals and some " yall slow down deliveries" type messages from our customers. Of course the public info out there , huge backlogs, huge margins, record sales numbers yada yada yada are still published..JUST LIKE 1982. I remember like it was yesterday the " high level " management meeting in 82 when we were told by the VP of something that " if we dont take another order at all we have work until 1986!!! " By late 83 we were laying off and closing facilities as fast as we could.
This BOOM has been going on too damn long and has to end at some time. ALL of my fellow old timers are saying the same thing and , sadly, virtually 100% of the younger guys are completely in denial. Our corp genii are in the same mode as they were in 82 ( those 82 guys are al dead or long retired ). We have been there before and can smell it on the horizon.
This will be the last hurrah for most of us vets of the "BUST" , its still gonna take a couple of years to develop but in 2-3 years we will be right at retirement age and will be the first to go. I hope I'm wrong and the boom lasts another decade like all the corp prognosticators say BUT.....


Today is the 10th anniversary of the post that started it all.

I was living in College Station when this thread started and just 6 months to the day afterwards, I was flying in to Williston, ND to start a new job because I had been laid off in April. I was cautious that first 18 months in ND and kept enough money in the bank to rent a U-Haul and buy gas to get back home. The market started turning in 2016 and fortunately, we never had to do that.

I'm still with the same company after more than 9 years. I've moved up and recently moved back down after a reorganization. Been bought and sold and have been through some rough markets and made the cut more times than I care to think about.

The oilfield has been good to me for 25 years and I hope to make at least 15 more years and ride off into the sunset.

Let's hear what everyone else has been up to the past 10 years.


I was on location when this was posted. No longer in the oilfield, but there are definitely times that I miss it.
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Furlock Bones
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8:17a, 9/26/24
AG
I had started at Linn Energy wanting to get on the producer side of the business after having spent 7 years on the midstream marketing side. 2 years later. Linn filed for bankruptcy.
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dahouse
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10:07a, 9/26/24
AG
Oh wow.

I was at an energy services company that was bought out and was cutting folks left and right. I left for a job that had me in West Texas a lot.

They let me go when the work dried up due to the dip in the market. Wife was 8 months pregnant with our second. Worked for another large contractor and was very underpaid for 2 years.

When the market got better I jumped on an opportunity from a headhunter, bad move. That only lasted 7 months, terrible fit.

But every cloud has a silver lining, I've been at my current company since 2018 and love it. Got promoted this year.

Cody
Fightin Texas Aggie c/o 04
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Sea Speed
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10:12a, 9/26/24
AG
I was doing subsea construction and now I transfer crude ship to ship at sea. Much better position now. In the interim i delivered fuel and supplies to warships at sea.
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one MEEN Ag
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In reply to Sea Speed • 10:14a, 9/26/24
AG
Are you currently docked in Dubai after running aground earlier this week?
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Sea Speed
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In reply to one MEEN Ag • 12:12p, 9/26/24
AG
No but I was Captain on several of that class of ship. I work in the private sector now, thank God.
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Dill-Ag13
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In reply to Fuzzy Dunlop • 1:43p, 9/26/24
AG
Fuzzy Dunlop said:

Today is the 10th anniversary of the post that started it all.

I was living in College Station when this thread started and just 6 months to the day afterwards, I was flying in to Williston, ND to start a new job because I had been laid off in April. I was cautious that first 18 months in ND and kept enough money in the bank to rent a U-Haul and buy gas to get back home. The market started turning in 2016 and fortunately, we never had to do that.

I'm still with the same company after more than 9 years. I've moved up and recently moved back down after a reorganization. Been bought and sold and have been through some rough markets and made the cut more times than I care to think about.

The oilfield has been good to me for 25 years and I hope to make at least 15 more years and ride off into the sunset.

Let's hear what everyone else has been up to the past 10 years.
As a younger guy I tried to hold out, laid off in 2016 (back end of the dip that triggered this thread) and 2020 and found my way back into the industry both times. Fought like hell to break into an operator out of oilfield services and failed and now transitioned into specialty chemicals instead. I miss the industry but I don't miss the instability, suppressed pay and lack of growth!
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Wiggletrace
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In reply to Dill-Ag13 • 2:09p, 9/26/24
AG
Just curious… what "specialty chemicals" business are you in?

Feel free to send me a DM. I have some questions about that industry.
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nosoupforyou
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4:16p, 9/26/24
AG
https://www.hartenergy.com/exclusives/validus-buy-citizen-energy-deal-worth-over-2-billion-sources-say-210553

Validus has already bought CLR wells and drilling, now this - nice!
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Comeby!
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In reply to nosoupforyou • 4:40p, 9/26/24
AG
I hope they drill up my acreage now
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dallasag12
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In reply to Fuzzy Dunlop • 11:22a, 9/27/24
AG
Moved to a smaller operator (still big, but smaller than a super major) and could not be happier. I have been very lucky to have found a good fit and could see myself staying here for another 20ish years before hanging it up.

Next couple of years will be very telling on whether I stay in the industry or join some friends who have exited into buying small, non-OG businesses. If we have another major downturn or if the industry continues to consolidate with "organic" headcount reductions as a result, I've been eyeing a good restaurant franchise that looks like it would be fun as hell to build out across a wide area over a decade. Maybe I'm just a masochist.
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canadianAg
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8:13p, 9/27/24
AG
I was 9 months post graduation and 9 months into starting my career with a super major. Still there having survived layoffs in 2014, 2015, 2017, 2020 and soon to be 2024/2025.

The first 3 layoffs I was just cheap labor still and never had to worry too much. I remember a bunch of my coworker friends jumping ship to Goog/Amzn/Msft/Aapl and all but one have burned out or got laid off. I also remember looking at the executive leadership and how almost all of them were survivors of the 80's, and to me, it felt like this could be my chance to stick with it, prove myself, and set myself up for quick progression. Which has generally worked out.

I've been fortunate to have senior exec take me under her wing and look out for me which is invaluable in organizations like a super major. Hoping I can make another 10 years just because I'll be fairly financially set at that point.
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Goose06
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11:07p, 9/27/24
AG
Company I was at 10 years ago has since gone through bankruptcy and their assets got sold off piecemeal in about 4 transactions. I got out before **** hit the fan luckily. Have had a good run at the place I left for, still going strong.
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GentrysMillTX10
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7:51a, 9/28/24
AG
End of 2014, I was with a water hauler in the Barnett, BTT. I had applied to FTSI (former frac tech) but wasn't getting anywhere. OSHA conference in Houston, December 2014, I met some FTSI guys and was in their office the following week.

I finally got hired at FTSI February 2015 and was nervous as heck. First round of lay offs was 3 weeks after I started. Massive layoff 5 months after I started but I survived. I was young, no family, willing to work for less $, and was all about growth and opportunity. My department went from 26 to 3. I was one of those 3.

December 2015, an Aggie executive from the concrete construction industry recruited me. I'm a DOT/Fleet/Hazmat guy so I have much different career than most of yall. Construction wasn't my fit but I gained some good experience.

September 2016, I was invited to join ProFrac. I was their first manager hired under the executives and HR Director. Procurement manager hired week after I was. Brand new company at the time, founded 5 years to the month after the Wilks sold frac tech - because the Wilks had a 5 year non-compete deal. ProFrac was good to me. I also got married and was looking forward to having kids.

2020 downturn hit within months of buying a house and we were about to have our first child too. I was on furlough when my oldest daughter was born, which was 100% blessing in disguise because they couldn't call me! The furlough was part of the corporate office mandatory one week per month furlough "for the foreseeable future." Yikes.

2 months after the baby was born, I started at Flint Hills Resources as their nationwide DOT/Hazmat person. (Trucking hazmat, not pipeline.) Koch companies are weird. They felt threatened that I had a brain, industry experience, and could think for myself. During my first year there, I was interrogated twice as part of internal investigations after I uncovered regulatory deficiencies and pointed out poor planning for future expansion (I.e. don't build fuel terminals on load zoned roads.) Koch corporate really thought I was a spy or getting information from outside resources. They couldn't believe I was just able to think for myself and had an understanding of how things work.

Thankfully, the commercial insurance industry came calling. I'm now a "Risk Engineer" serving oilfield and trucking accounts. I've really found my niche now and have been successful here. I get just enough oilfield to feel connected to the industry but have enough stability elsewhere to not be constantly worried.
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reineraggie09
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11:29a, 9/28/24
AG
I was 5 months post-graduation from vet school. Worked in 2 practices since and now about to celebrate 2 years as my own boss next week.

Started following this thread because I work in the Houston area on horses. As O&G goes some does my business. Helps me have better conversations with my clients as well.

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jagvocate
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In reply to GentrysMillTX10 • 11:38a, 9/28/24
AG
Really interesting post how careers can happen without explicit planning

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Buffalo_0311
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1:51p, 9/28/24
I spent the summer of 14' in my final internship in Midland everything was booming there, oil was +$105/bbl. But I'll never forget the elderly tech at the end of that summer say that every boom has its bust...

I was in Richardson for the fall semester of my senior year when this post was first made, watching the price of WTF free fall to 90, then 80, then 70, then 60, then…. A falling knife. I was very fortunate to have two full time job offers my Senior year. One from the private operator that I did 4 internships with, and one from a small public independent I never heard of that I applied to 2 hours before the deadline (who has an application deadline before class even starts?). Anyways, I ended up accepting the offer for the independent I had never heard of which was a tough decision and one I lost sleep over. Turns out my previous company who had been good to me rescinded all of its full time offers.

Few of my classmates graduated with job offers from operators in Spring 15'. Many had offers rescinded. I even heard a story of one grad that started work and was laid off the same week.

Luck plays a roll.

10 years later, I'm still with the same company, worked in 5 basins and have seen a big part of America that most people don't see.
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Sea Speed
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In reply to Buffalo_0311 • 1:54p, 9/28/24
AG
Luck and timing is such a massive part of life.
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JD Shellnut
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In reply to Sea Speed • 11:24a, 9/29/24
AG
Sea Speed said:
Lick and timing is such a massive part of life.


Took a different approach to working your way up the ladder, I see.
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Sea Speed
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12:38p, 9/29/24
AG
Damn typos.
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htxag09
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1:15p, 9/30/24
AG
Anyone prepping for shortages or price impacts from the potential strike?

Port workers from Maine to Texas are set to strike Tuesday
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one MEEN Ag
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In reply to htxag09 • 1:37p, 9/30/24
AG
htxag09 said:
Anyone prepping for shortages or price impacts from the potential strike?

Port workers from Maine to Texas are set to strike Tuesday
I mean, the last 5 years has all but wiped out the notion of stock piling inventory to alleviate disruptions to our just-in-time world. COVID spiked the price of any raw material while also wiping out cash on hand.

Anything that was of high importance to be purchased ahead of time has been highlighted as such years ago. I wouldn't be surprised if a vendor or two is forecasting pushing our parts out but won't tell us until right before delivery is due.

So delays tomorrow? Probably very little on stalled boats that goes into our facility directly.
End of Q4 surprise delays from vendors who are more directly impacted? Most likely.

I've got vendors that its not even worth the call because you know they're going to slip, and some vendors where its not worth the call because you know they're going to perform. There's a lot in the middle though that supply chain is gonna be 'casually dropping in with' over the next week or two.
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htxag09
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In reply to one MEEN Ag • 1:49p, 9/30/24
AG
Agree with what you said.

Mainly thinking in the fluid/chemical space where you're importing goods constantly. Things like barite that's pretty crucial and all imported. How much safety stock do you think these companies really have and how long of a strike could that support?
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Sea Speed
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In reply to htxag09 • 2:01p, 9/30/24
AG
I'm not sure on barite, but bulk liquid doesn't generally involve the longshoremen.
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SweaterVest
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3:57p, 9/30/24
AG
Does anyone have a connect or experience with ES3 Minerals out of Austin?
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TxAg20
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In reply to SweaterVest • 4:58p, 9/30/24
AG
I know who they are and bought leases off of Trey's FIL years ago when Trey worked for him.

I would guess they're flippers which means they have a buyer willing to pay more than they're buying for.

Are you looking to sell?
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BourbonAg
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In reply to SweaterVest • 5:48p, 9/30/24
AG
We have bought quite a few mineral deals from them in the past and we are in regular contact with them. As mentioned, they do some flipping but they also do some buy and hold deals. If you have specific questions, please feel free to shoot me a PM.
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SweaterVest
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In reply to BourbonAg • 6:03p, 9/30/24
AG
Thanks Bourbon and TxAg20. Not looking to sell anything right now, but I have a concern with their business practices that I hope to address directly. I'll send PMs later tonight, curious if what I've experienced is common place and considered acceptable.
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Dill-Ag13
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In reply to Wiggletrace • 10:47a, 10/1/24
AG
Wiggletrace said:
Just curious… what "specialty chemicals" business are you in?

Feel free to send me a DM. I have some questions about that industry.


Can't dm but email in profile
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Tormentos
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1:49p, 10/1/24
AG
Hate to say it but after 22+ years in the industry I have recently separated from the company I was at due to a merger.

Does anyone have any director/executive level recruiters or headhunters in the Houston area they would recommend?

Thanks
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