Pros/Cons of the different oilfield service careers? (Odessa: manufacturing, oil)

[Roxie_B]

https://twitter.com/FrackAction/stat...016704/photo/1

[Antares45]

Originally Posted by Granny Fats

Frac, wireline, roughneck, roustabout = hard to do anything but oilfield

THE BUST WILL COME - BE PREPARED -

All of those roles can translate well to construction and manufacturing jobs. It's all about communicating relevant skills during the job interview (i.e., operating heavy machinery, ability to do manual labor for long hours, etc.)

But yes, you are right, the bust is coming, and sooner than many people expect. All of these predictions you hear about this boom lasting for decades are coming from oil companies trying to attract investors. I have many networking contacts in independent market analytics firms, and they predict that the boom only has about 6-9 months left. Afterward, production will flatline, then decline over the course of the following year.

The only way to keep the current boom going is to repeal the federal law prohibiting the export of domestically produced crude oil & natural gas. This same law is what caused the oil bust in the mid-80s. But because this is an election year, Congress won't be voting on this before November. If they vote to keep the law in place (or never vote on it at all) it's the beginning of the end. However, many, many oil companies with very deep pockets are contributing to many, many election campaigns this year, so it'll be interesting to see what happens.

[Philosophizer]

Originally Posted by Antares45

All of those roles can translate well to construction and manufacturing jobs. It's all about communicating relevant skills during the job interview (i.e., operating heavy machinery, ability to do manual labor for long hours, etc.)

But yes, you are right, the bust is coming, and sooner than many people expect. All of these predictions you hear about this boom lasting for decades are coming from oil companies trying to attract investors. I have many networking contacts in independent market analytics firms, and they predict that the boom only has about 6-9 months left. Afterward, production will flatline, then decline over the course of the following year.

The only way to keep the current boom going is to repeal the federal law prohibiting the export of domestically produced crude oil & natural gas. This same law is what caused the oil bust in the mid-80s. But because this is an election year, Congress won't be voting on this before November. If they vote to keep the law in place (or never vote on it at all) it's the beginning of the end. However, many, many oil companies with very deep pockets are contributing to many, many election campaigns this year, so it'll be interesting to see what happens.

Falling prices due to massive interest rate increases caused the bust in the 1980's. It will come to an end at some point, but it won't be 6-9 months from now. I don't think the politicians and "Federal Reserve" will allow widespread deflation. America doesn't have the stomach for it and debt public and private debt levels are way too high to service at 20% interest rates.

[Westerntraveler]

Originally Posted by Philosophizer

Falling prices due to massive interest rate increases caused the bust in the 1980's. It will come to an end at some point, but it won't be 6-9 months from now. I don't think the politicians and "Federal Reserve" will allow widespread deflation. America doesn't have the stomach for it and debt public and private debt levels are way too high to service at 20% interest rates.

Reagan got the Saudis to pump a lot more oil in the 80's to make prices fall in order to hurt the USSR also.You have some good input.

[SVTRay]

Originally Posted by Meyerland

Don't be surprised if you have to parallel park the rig to pass the test.

Everyone has to Parallel park a vehicle in their driver's license class...including trailers if you're getting a Class A CDL for example. It's not that bad.

[camtheman77]

Are there paramedics working out there as medical support?

[SVTRay]

Originally Posted by camtheman77

Are there paramedics working out there as medical support?

Not that I know of but most fields are seeing a boost due to the oil boom. Example: Midland just built a new 7 story addition to it's hospital and a much needed parking garage.

[camtheman77]

oh okay. I dont know anything about that area, I didnt know there was a hospital near by. I know that alot of the off shore ones contract out Paramedics to work on the rigs thats why I was curious

[SVTRay]

Originally Posted by camtheman77

oh okay. I dont know anything about that area, I didnt know there was a hospital near by. I know that alot of the off shore ones contract out Paramedics to work on the rigs thats why I was curious

Ya, Offshore rigs will keep paramedics on hand since a one way trip to shore could run 30 minutes or longer and thats provided there is a chopper ready to go. You often work miles outside of town when working in the West Texas oilfield but worst case scenario, they can always call in a medivac and drop you off at Midland Memorial.

[BCHTX]

Originally Posted by camtheman77

Are there paramedics working out there as medical support?

There is a huge demand for paramedics in the oilfield. I have a friend who parlayed their EMT experience into a consulting job for a safety company charging $1500.00 a day! Not bad IMO.