Oil fell below $27 a barrel yesterday.:( I have a feeling it won't be much longer and the rest of the economy will start to feel it because of the low prices.
Don't get me wrong I like the cheap prices at the pump but that WILL change in the future. So, don't get to used to it people.:D
There isn't a single rig drilling in Arkansas now.:( SWN shut down all operations until the market gets better.
The Calfrac district out of Arkansas (that I worked for) just closed it's doors yesterday. So, things aren't getting any better:( I've pretty much decided to go in a different...
The best way of snagging an oil field job right now is having contacts.:( There's definatly nothing here in Arkansas. They just stacked the last rigs here until the prices come back up.
Here's how ours started.
5% pay cut
PD allowance went from $40 to $25 a day
Stopped matching 401k
2/2 schedule with no pay on off time or option to work
Performance and production bonuses were cut in half
Then came the lay off.
I'm not upset it's just big business. I'm just glad I saved some...
There seem to be a lot of new members since this question was asked years ago. Just wanted to see if any other forum members have been hit with the low prices?:dontknow:
I worked for Calfrac 7 years and our whole frac department got let go back in June:( Hoping it gets better soon. Luckily the...
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