rigs shuting down

[green momba]

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]

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

 

[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..

 

[Summitric]

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]

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

 

[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!

 

[Summitric]

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]

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 :d

 

[Guest1]

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...:d

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]

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]

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

 

[Snowdin]

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]

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]

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!!:d

 

[Billy Boy]

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]

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!!:d

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.

 

[Billy Boy]

You may want to recalculate that, just checked the Bloomberg web, site Oil is down to $ 67.10 per barrel. I would like to here what the Offical Opposition (liberals) at the Alberta Legislature are Saying about the P.C.'s lowballing the price of oil when they do their yearly provincial budget LOL.

Billy Boy

 

[Mike270412]

Been racking lots of Apache iron lately.

 

[OVERKILL 19]

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



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...

Just sent out 400bbl and matting to one PW rig and Rig phone's to 2 others, they all tell me it will be out there all winter??

 

[Guest1]

Just sent out 400bbl and matting to one PW rig and Rig phone's to 2 others, they all tell me it will be out there all winter??

Where are the rigs located? Like I said ... PW drilling will be SIGNIFICANTLY reduced until Q3 2009 as will drilling programs for a number of companies...

Guess the brightside is they get paid in U$D...:d