They drilled a second hole on my mother-in-laws place last year. It’s 40 feet from the well they put in 2 years ago. Before the big snow they started hauling in the frac tanks etc. It looks like they’ll start fracing tonight. Then they’ll move 1 mile east and do the same thing on another well they drilled over a year ago but never completed.
...I am sorry to hear that for them. I hate to see WPX leaving Tulsa.
I am afraid Tulsa’s oil and gas industry is continuing on the decline that started 6-7 years ago. There are very few major players left in Tulsa. Even several of the smaller companies have merged or gone out of business.
So was i. I am trying to help a couple of them find jobs at Halliburton here in Duncan but not sure how much luck i am going to have. One guy i know graduated 2 years ago with a petroleum engineering degree and he has already been laid off 3 times.
The large gas transmission company I work for let 11% of the company go since January 2019. That’s about 600 souls.
WPX merged with Devon back around the first of the year.
We build most of the salt water lines for WPX well pads down in the permian basin and from the sounds of it they plan to stay busy this year but that remains to be seen.
Yes, WPX merged with Devon, hence the layoffs. My understanding that some folks were able to transfer to OKC, but many are being let go.
Devon will likely keep the Permian activity going. Economics still work in that basin for D&C.
Devon will likely keep the Permian activity going. Economics still work in that basin for D&C.
3 months at a time. Companies may give a 1 year, 3 year and 5 year plan, but most of us know the plan can do a 180 every quarter.
I was in the oil and gas parts biz in 84. The slogan was, "Stay alive till 85". That was a very weird year. TXO was a really big company where we were and they threw everyone's name in a hat to see which of them would get laid off. The CFO and the general manager were picked, one and two. There was going to be three people picked but they decided the combined salaries would offset the third pick.
My company had just built a corporate tower in Wichita with a three story atrium. Then next week they came to our little store and treated our manager to a steak dinner for his 25 years of service. The next day a fellow shows up from the bank telling everyone and I mean everyone to give him our keys and go home.
I was the downhole pump repairman and they called me back to work that next week to finish the pumps and take care of our obligations and contracts. I worked another 3 months for the bank.
What the story was is we had 6 million in offshore drill stem at our stores in LA and TX. The company was paying the principle on the note but the offshore rigs were shutting down. This panicked one bank who demanded payment which the company paid. This action caused other banks to fall in line and the domino effect took over. There was no reorganization after that it was straight chapter 7.
My company had just built a corporate tower in Wichita with a three story atrium. Then next week they came to our little store and treated our manager to a steak dinner for his 25 years of service. The next day a fellow shows up from the bank telling everyone and I mean everyone to give him our keys and go home.
I was the downhole pump repairman and they called me back to work that next week to finish the pumps and take care of our obligations and contracts. I worked another 3 months for the bank.
What the story was is we had 6 million in offshore drill stem at our stores in LA and TX. The company was paying the principle on the note but the offshore rigs were shutting down. This panicked one bank who demanded payment which the company paid. This action caused other banks to fall in line and the domino effect took over. There was no reorganization after that it was straight chapter 7.
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