rigs shuting down

green momba · 10-21-2008, 08:44 PM

I heard rumor that some oil companies are shutting down winter drilling programs
due to low oil prices, apache, husky, connacher are just a few that I heard are shutting rigs down right now. anyone else hear this or just people starting chit.

OVERKILL 19 · 10-21-2008, 09:19 PM

Have not heard that, all my Penn West friends are staying strong for the winter.

IMSICK · 10-21-2008, 09:33 PM

Happens all the time..... Don't forget that the Royalties BS comes in Jan 01 as well.

Budgets were built riding a 12+ dollar gas wave this summer.... suddenly it's down to 7... Drilling programs turn into workover programs..... Nothing new..

Summitric · 10-21-2008, 09:36 PM

Originally Posted by imsick

happens all the time..... Don't forget that the royalties bs comes in jan 01 as well.

Budgets were built riding a 12+ dollar gas wave this summer.... Suddenly it's down to 7... Drilling programs turn into workover programs..... Nothing new..

yup... Also gives the drilling companies time to set up the rigs at home base and overhaul them where needed, or just good old maintenance.... You'll see lots of that till at least freeze-up, now!

BIGFOOT · 10-21-2008, 09:36 PM

Have not heard anything yet.... Butts oil patch news will travel fast. Heard of some rigs being released, Not sure the reason yet !

catmando · 10-21-2008, 09:44 PM

Talking to a bud tonight who owns a Pilot cat service and does lots of Rig moves and he said some are running out of fuel and its slowed considerably for him!
catmando!

Summitric · 10-21-2008, 09:45 PM

Originally Posted by catmando

talking to a bud tonight who owns a pilot cat service and does lots of rig moves and he said some are running out of fuel and its slowed considerably for him!
Catmando!

ya, buddy said couple sites by drayton have run into fuel issues too.... Hmmmmm

Murminator · 10-21-2008, 11:29 PM

I haven't heard/felt anything yet we seem to busy as hell.....and WTF is with all the "tight" holes this year???? usually 2-3 a year been like 5 since August ....think someones trying to drive shares up or move people away from one area...If anyone going to the Helmet watch for the post holes

Guest1 · 10-22-2008, 06:22 AM

Originally Posted by IMSICK

Budgets were built riding a 12+ dollar gas wave this summer....suddenly it's down to 7...Drilling programs turn into workover programs Nothing new.

GOT CTU x 4 units & N2 x 4 units if anyone is in need for these services...

Originally Posted by OVERKILL 19

Have not heard that, all my Penn West friends are staying strong for the winter.

Not sure who your PW friends are but my PW friend told me last week that PW drilling programs will be significantly reduced until Q3 2009...

mountainbigbull · 10-22-2008, 07:12 AM

I know we are seeing a slow down. I think everyones in the wait and see mode.
Seen on the news Husky's profit is up 65%!! maybe the oil companies will hold back a bit just until the oil price come back up.

I'vegotthenutz · 10-22-2008, 08:45 AM

Last weeks rig count in canada was 470, this week its 437...

Snowdin · 10-22-2008, 08:49 AM

I think the oil companies have got themselves into a bit of a spot right now. They started a slow down in the summer of 06 because the cost of doing business was to high (service rigs and trucking cost). Just about the time they were thinking about getting back to work the government comes along and raises the royalties so they go on a pout and continue to stay slow.

Even though they've made record profits I'm not sure they can continue their pouting for much longer as their reserves must be getting low by now. Those gas plants and oil batteries need to have product running through them or they go down. Anyway I'm thinking they need to get busy fairly soon. Low price of oil or not. Hell even $50.00/barrel oil will make huge profits and it's not there yet.

Billy Boy · 10-22-2008, 09:14 AM

Have read in the Calgary Herald Business News that the new royalty system is causing some oil and gas companies to re-think their drilling program in Alberta for 2009. Some of the companies are going to increase their drilling in B.C. and Saskatchewan because of the more favorable royalty schemes. Also adding to the mix is the low price for gas and the U.S. has also increased their reserves of natural gas through increased drilling almost to the point of where they could have an excess of natural gas but a cold winter could change this scenario around in a heart beat!!!!

Billy Boy

NosRX1 · 10-22-2008, 09:30 AM

I am in Yemen right now drilling a well thats producing 12,000+ barrels a day which more then covers the cost or the rig and service companies. The rumor here in the middle east is that OPEC is going to slow production to bring the price of oil back up!! I guess wait to hear it in the news!!

Billy Boy · 10-22-2008, 10:29 AM

OPEC's threat has been in the news but we all know how an OPEC cut back in production goes; it goes good untill a member country figures they need more cash to put up a new palace or outfit the grand prince in a fleet of new jets and bullet proof limos LOL

Billy Boy

Snowdin · 10-22-2008, 10:32 AM

Originally Posted by NosRX1

I am in Yemen right now drilling a well thats producing 12,000+ barrels a day which more then covers the cost or the rig and service companies. The rumor here in the middle east is that OPEC is going to slow production to bring the price of oil back up!! I guess wait to hear it in the news!!

12,000 barrels x $70.00 = $840,000.00 per day.

Sheesh. Ya they better get the price of oil back up there. Man you can never have enough money in the bank.

10-21-2008, 08:44 PM	#1 (permalink)
green momba Member Join Date: Apr 2008 Location: mannville a.b. Posts: 59 Casino Cash: $64846 Thanks: 5 Thanked 14 Times in 11 Posts	rigs shuting down I heard rumor that some oil companies are shutting down winter drilling programs due to low oil prices, apache, husky, connacher are just a few that I heard are shutting rigs down right now. anyone else hear this or just people starting chit.

10-21-2008, 09:19 PM	#2 (permalink)
OVERKILL 19 Member Join Date: Dec 2006 Location: Red Deer Posts: 1,121 Casino Cash: $1014409 Thanks: 251 Thanked 324 Times in 231 Posts	Re: rigs shuting down Have not heard that, all my Penn West friends are staying strong for the winter. __________________ Equal rights for everyone...special treatment for no one !!!

10-21-2008, 09:33 PM	#3 (permalink)
IMSICK Senior Member Join Date: Jul 2008 Location: Tumbler Ridge Posts: 10,677 Casino Cash: $111605235 Thanks: 6,698 Thanked 2,829 Times in 2,037 Posts	Re: rigs shuting down Happens all the time..... Don't forget that the Royalties BS comes in Jan 01 as well. Budgets were built riding a 12+ dollar gas wave this summer.... suddenly it's down to 7... Drilling programs turn into workover programs..... Nothing new..

10-21-2008, 09:36 PM	#4 (permalink)
Summitric Senor Moderator Join Date: Oct 2006 Location: Edmonton/Sherwood Park Posts: 16,685 Casino Cash: $1191320 Thanks: 8,436 Thanked 7,051 Times in 4,053 Posts	Re: rigs shuting down Originally Posted by imsick happens all the time..... Don't forget that the royalties bs comes in jan 01 as well. Budgets were built riding a 12+ dollar gas wave this summer.... Suddenly it's down to 7... Drilling programs turn into workover programs..... Nothing new.. yup... Also gives the drilling companies time to set up the rigs at home base and overhaul them where needed, or just good old maintenance.... You'll see lots of that till at least freeze-up, now! __________________ SUMMITRIC www.sledbunnyracing.com 2006 Summit 1000RT Highmark 162"(THUMPER) 2004 Summit 800X 151"(BLACKWRABBIT) 1998 Yamaha 600 Grizzly Member of Team Slim ALBERT BECK - HIGHMARKING IN THE HEAVENS - REST IN PEACE AUTHORIZED OFFICIAL GEARHEAD!

10-21-2008, 09:36 PM	#5 (permalink)
BIGFOOT Moderator Join Date: Dec 2006 Location: Stony Plain Posts: 2,396 Casino Cash: $1390194 Thanks: 1,144 Thanked 784 Times in 535 Posts	Re: rigs shuting down *Have not heard anything yet.... Butts oil patch news will travel fast. Heard of some rigs being released, Not sure the reason yet !* __________________ *RMK* *MIKE* *900/166* "*BIG-FOOT*"

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10-21-2008, 09:44 PM	#6 (permalink)
catmando Moderator Join Date: Nov 2006 Location: Edmonton Posts: 3,887 Casino Cash: $1645971 Thanks: 1,393 Thanked 1,372 Times in 797 Posts	Re: rigs shuting down Talking to a bud tonight who owns a Pilot cat service and does lots of Rig moves and he said some are running out of fuel and its slowed considerably for him! catmando! __________________ 05 900 Kingcat 08 110 Giovanni Mini Hummer 08 Arctic Cat M8 05 Kawasaki 650 Brute 96 Polaris Scrambler 400 Arctic Cat in The Snow/Confused in the Mudd Member Of Team Slim

10-21-2008, 09:45 PM	#7 (permalink)
Summitric Senor Moderator Join Date: Oct 2006 Location: Edmonton/Sherwood Park Posts: 16,685 Casino Cash: $1191320 Thanks: 8,436 Thanked 7,051 Times in 4,053 Posts	Re: rigs shuting down Originally Posted by catmando talking to a bud tonight who owns a pilot cat service and does lots of rig moves and he said some are running out of fuel and its slowed considerably for him! Catmando! ya, buddy said couple sites by drayton have run into fuel issues too.... Hmmmmm __________________ SUMMITRIC www.sledbunnyracing.com 2006 Summit 1000RT Highmark 162"(THUMPER) 2004 Summit 800X 151"(BLACKWRABBIT) 1998 Yamaha 600 Grizzly Member of Team Slim ALBERT BECK - HIGHMARKING IN THE HEAVENS - REST IN PEACE AUTHORIZED OFFICIAL GEARHEAD!

10-21-2008, 11:29 PM	#8 (permalink)
Murminator Moderator Join Date: May 2007 Location: NE Edmonton Posts: 2,673 Casino Cash: $1823365 Thanks: 443 Thanked 1,010 Times in 605 Posts	Re: rigs shuting down I haven't heard/felt anything yet we seem to busy as hell.....and WTF is with all the "tight" holes this year???? usually 2-3 a year been like 5 since August ....think someones trying to drive shares up or move people away from one area...If anyone going to the Helmet watch for the post holes __________________ Murray If my wife asks.....It cost about 20 bucks Don't be offended......I hate everyone equally Member of Team Slim Remember ride it.....don't worship it

10-22-2008, 06:22 AM	#9 (permalink)
Guest1 Banned Join Date: Feb 2008 Location: STAMPLICKERTOWN Posts: 1,867 Casino Cash: $52840 Thanks: 652 Thanked 780 Times in 477 Posts	Re: rigs shuting down Originally Posted by IMSICK Budgets were built riding a 12+ dollar gas wave this summer....suddenly it's down to 7...Drilling programs turn into workover programs Nothing new. GOT CTU x 4 units & N2 x 4 units if anyone is in need for these services... Originally Posted by OVERKILL 19 Have not heard that, all my Penn West friends are staying strong for the winter. Not sure who your PW friends are but my PW friend told me last week that PW drilling programs will be significantly reduced until Q3 2009...

10-22-2008, 07:12 AM	#10 (permalink)
mountainbigbull Member Join Date: Nov 2006 Location: Airdrie Alberta Posts: 198 Casino Cash: $276286 Thanks: 58 Thanked 117 Times in 62 Posts	Re: rigs shuting down I know we are seeing a slow down. I think everyones in the wait and see mode. Seen on the news Husky's profit is up 65%!! maybe the oil companies will hold back a bit just until the oil price come back up.

10-22-2008, 08:45 AM	#11 (permalink)
I'vegotthenutz Member Join Date: Nov 2006 Location: Grande Cache, AB Posts: 515 Casino Cash: $98520 Thanks: 292 Thanked 219 Times in 133 Posts	Re: rigs shuting down Last weeks rig count in canada was 470, this week its 437... __________________

10-22-2008, 08:49 AM	#12 (permalink)
Snowdin Member Join Date: Nov 2007 Location: Whitecourt Posts: 324 Casino Cash: $420463 Thanks: 38 Thanked 89 Times in 62 Posts	Re: rigs shuting down I think the oil companies have got themselves into a bit of a spot right now. They started a slow down in the summer of 06 because the cost of doing business was to high (service rigs and trucking cost). Just about the time they were thinking about getting back to work the government comes along and raises the royalties so they go on a pout and continue to stay slow. Even though they've made record profits I'm not sure they can continue their pouting for much longer as their reserves must be getting low by now. Those gas plants and oil batteries need to have product running through them or they go down. Anyway I'm thinking they need to get busy fairly soon. Low price of oil or not. Hell even $50.00/barrel oil will make huge profits and it's not there yet. __________________ 96 Honda Forman 400 08 Rhino 700

10-22-2008, 09:14 AM	#13 (permalink)
Billy Boy Member Join Date: Nov 2006 Location: Central Alberta Posts: 337 Casino Cash: $174900 Thanks: 129 Thanked 143 Times in 69 Posts	Re: rigs shuting down Have read in the Calgary Herald Business News that the new royalty system is causing some oil and gas companies to re-think their drilling program in Alberta for 2009. Some of the companies are going to increase their drilling in B.C. and Saskatchewan because of the more favorable royalty schemes. Also adding to the mix is the low price for gas and the U.S. has also increased their reserves of natural gas through increased drilling almost to the point of where they could have an excess of natural gas but a cold winter could change this scenario around in a heart beat!!!! Billy Boy

10-22-2008, 09:30 AM	#14 (permalink)
NosRX1 Member Join Date: Jan 2007 Location: Always at work never at home Posts: 1,787 Casino Cash: $977664 Thanks: 1,564 Thanked 479 Times in 301 Posts	Re: rigs shuting down I am in Yemen right now drilling a well thats producing 12,000+ barrels a day which more then covers the cost or the rig and service companies. The rumor here in the middle east is that OPEC is going to slow production to bring the price of oil back up!! I guess wait to hear it in the news!! __________________ Sledding the funest thing a guy can do while getting HYPOTHERMIA 05 450 Kodiak 03 RX1 with nos/pipe...etc/no longer have....good by tank! 2010 M8 Snopro 162 If your not scared your not going fast enough!

10-22-2008, 10:29 AM	#15 (permalink)
Billy Boy Member Join Date: Nov 2006 Location: Central Alberta Posts: 337 Casino Cash: $174900 Thanks: 129 Thanked 143 Times in 69 Posts	Re: rigs shuting down OPEC's threat has been in the news but we all know how an OPEC cut back in production goes; it goes good untill a member country figures they need more cash to put up a new palace or outfit the grand prince in a fleet of new jets and bullet proof limos LOL Billy Boy

10-22-2008, 10:32 AM	#16 (permalink)
Snowdin Member Join Date: Nov 2007 Location: Whitecourt Posts: 324 Casino Cash: $420463 Thanks: 38 Thanked 89 Times in 62 Posts	Re: rigs shuting down Originally Posted by NosRX1 I am in Yemen right now drilling a well thats producing 12,000+ barrels a day which more then covers the cost or the rig and service companies. The rumor here in the middle east is that OPEC is going to slow production to bring the price of oil back up!! I guess wait to hear it in the news!! 12,000 barrels x $70.00 = $840,000.00 per day. Sheesh. Ya they better get the price of oil back up there. Man you can never have enough money in the bank. __________________ 96 Honda Forman 400 08 Rhino 700

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