At work
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They have the $$$ to make the interest payments they are just holding onto as much as they can for as long as they can just like EVERY other energy company is doing right now.
Company is just trying to hold onto as much cash as it can for now, like every Oil company is. Does not mean Bankruptcy, they are being smart with their money !
No but a trade that is being executed and doesn't finish until after hours make it look like an after hours trade
2 in Haynesville, 3 in Barnett Shale, 4 in Eagle Ford
A lot of people don't realize the hard work that actually takes place out there. Most of all my old rough neck/swamper buddies are sitting at the house (If they have one left) looking for jobs.
Sad thing is once you have worked in the oilfield for so long it's hard to do much else. I am one of the few to still working in the oilfield. Of course next week my company is laying off 50% of our work force, for our 4th total lay off. And things aren't looking better anytime soon IMO.
Yes they are cleared from those lawsuits.
Contracts are broken every day, screw Saudi and their contract.
Nope, and Halliburton is set to go through another round of lay offs at the end of the month. I have an idea how about we stop buying OPEC oil. That will help a lot.
Yeah, lucky for me i'll be one of the last to go, but sucks for the other guys.
Just got word Today my company is laying off 50% of our staff next Monday, man this blows the 07-08 crash out of the water.
The reason they ramped up is because of the huge amount that the US ramped up, and the market share the US was taking from them. The plans to get rid of the competition was all layed out in the late 2014 OPEC conference.
Problem is US companies have been able to stay afloat way longer than saudi/OPEC predicted.
Saudi saw the success of the US shale boom and ramped up production to put most of the competition out of business so they could regain market share. Pretty sure it is almost exclusively their fault.
This is not the cheapest oil stock on the planet....It is HOWEVER the cheapest legit oil stock on the planet, and i agree with the zero or hero saying. No one can control what the price of oil does, and that will determine the fate of so many including SDOC.
Yeah, well it helps i have 4 kids (we're done though). Either way pretty sure income tax is technically illegal, but then again who is going to tell the government what they are doing is illegal haha.
Last post of the day, see you all Wednesday as i don't "ihub" on my days off.
Haha yep, mines at the gym and here i am pulling my 9th straight day here at work. When at least i'm off tomorrow, get to go see how bad Uncle Sam is gonna screw me this year. As if paying 20K plus in taxes every year isn't enough......greedy bastards.
Na i didn't get to spend a dim, however my wife and kids lived well. Which is the only reason i did it, and would do it again if i had to. And yes the turnover rate out there is incredible.
My first year moving rigs with no experience i made about 85,000 give or take a little, that was in 06.
Haha makes 2 of us, still searching for that dream too.
Oh yeah they money was well worth it but the time away from my family wasn't. My son was born i saw him be born, left that night and did not see him again until he was about 6 months old. My day would generally start about 5AM, and i would not be done on location until 7-8 at night. And this was 7 days a week when i moved drilling rigs. That was the hardest i had, and i did that for 5 years.
Honestly man i would keep my phone in the truck, and a lot of oil companies won't allow you to have your cell phone even on location now (Unless your the company man). They have a dumb ass reason, like most of their reasons.
I used to not say much, but i get so tired of hearing all these so called oil field experts ramble on about stuff they truly know nothing about, while trying to mislead investors.
Yep i feel ya on that man, i've been there not an easy job. Hell none of it is actually easy, but no one knows unless they've done it. At least i had a "V Door" key ;)......
Yeah i bet it is. Like i told CHK when they first started making us wear FRCs. My arms are covered, my legs are covered, but what about my f****** face.
Yeah not like i really cared, was more so to prove a point that they were dumb. Since they told us FRC would only make you 10 degrees hotter, after over 15 people passed out from heat stroke in the first year they began testing the temperature on the inside of our uniforms and it was on average 30 degrees warmer in our uniforms than it was outside, which is a big difference.
Oh make no mistake that when things do pop back off we will be able to drill and produce cheaper than we ever have before. Saudi/OPEC does not realize that what they are doing will only hurt them more in the long run.
Just messing with ya man.
So if i burn to death i can rest assure my phone makes it......
While i do understand that it is Saudi who wanted to crush the US Energy markets taking market share from them. We have already seen more than a couple OPEC countries say the over flow of oil is hurting their economies even more so than ours.
The price of oil is all politics, OPEC mostly Saudi Arabia saw they were losing market share to US Shale companies and they put a plan in place to regain market share by putting a lot of US Shale companies out of business.
Don't be fooled, the price of oil still reflect SDOC PPS in the long run. The higher the price of oil the more the company makes, the better the financials will look, and the more new projects they will put online. But yes SDOC does not go up in one day due to the price of oil.
My investment here is on the fact i believe oil will get up to around the 50.00 range mid way of 2016 and hold steady there. Then most US energy companies will begin drilling again, new projects will come on line.
http://m.oaoa.com/premium/article_41c7460e-a832-11e4-9b37-9bdd79923415.html?mode=jqm
Still owned by them, and they still own the rigs. Just had to shut most of it down for now due to oil prices.
Still owned by them they just temp shut down most of the division.
Honestly there is a misconception of what fracking truly is, fracking helps give us access to gas/oil that just standard drilling can not give us access to. It breaks down pockets and helps to push oil/gas out to where we can't normally get it.
And a wells life varies, hell there is a well still producing from over 100 years ago.
http://www.bloomberg.com/news/articles/2014-11-21/the-153-year-old-oil-well-that-produces-nonstop-in-boom-and-bust?utm_content=10021327&utm_medium=social&utm_source=facebook
But even a well at today's standard can produce anywhere from 3-10 years on average. I know it's a big jump but it varies so much.
Honestly with all the recent oil companies showing billion dollar losses, and i mean the big boys. Who really knows....
Really depends where they are drilling, what they are drilling for and the depth they need to reach. The average stay on one well is generally 2-4 weeks, unless your in West Texas where most drill the same well for 1.5-2 months due to depth.
Yes that is the rig count SDOC currently has actively drilling. the list is updated every Sunday. I will post the list week by week it is a good indicator of what the company has going on as far as new projects go.
No i coordinate directional tools, motors, subs, collars to Rigs.
Good news for us is all the BK talk is just ihub talk, yes it could happen, but so could oil rocketing up to $60.00 a barrel.
Yes i have worked nearly 10 years myself. Worked on Rigs, Moved rigs, been in production, oilfield services, the directional part, and now the transportation part. If Oil gets back up to 50-60 Dollars a barrel companies like SDOC will start drilling again, and begin new projects/wells. This alone will help revenue, and will make the PPS rise. YES it will be harder for SDOC to rise a lot due to it being a penny stock right now, and everyone and there mother will be flipping this, but it can still rise quite a bit from the current price IMO.
All oil shale US Energy companies are in shambles compared to their past. Do I really need to explain why....