As the situation in the ME continues to ratchet up, are we going to pick up rigs again in the gulf or US land? If we don’t, our peers will continue to outperform us. Esp if Leviathan gets shut in for an extended period. But if we do add rigs…who’s going to do that work?
We just laid them off.
China will not allow Iran to shut down the strait. It’s a zero sum game for them as they have the most to lose from it all.
"Those of us left in wells will be forced to work twice as hard"...
So, what will you do in the remaining 7 hours of your "work" day?
Price is plummeting.
No one believes Iran can control the Strait.
Those of us remaining in wells will be forced to work twice as hard . It’s going to be brutal and we will have to beg for more help . Slowly more and more people are hired and people start enjoying the cushy job again. And then layoffs once they realize people are barely working again. Thats just the normal cycle
I was wondering how this was going to work as well. In the Permian, the plan is to drop to 7 rigs by August but that was a result of planning for $40/barrel oil. If we're at war with Iran or if Iran shuts in the Straight of Hormuz, oil prices go up and then maybe we pick more rigs up? Rockies even has plans to pick up a 3rd rig in November. Maybe we repurpose wave 2 people left standing? Or call back people let go from wave 1?
Because that will totally improve our safety stats.
If there is an uptick, I think they'll hire contractors to fill the void. Easier to let contractors go then direct hires.
Just put the chain on the break. It’ll be fine.
Drone rigs! From India!
The good times for oil industry is over, it will be more decline, more downsizing and shrinkage in the USA.
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