I am hearing all OFS are cutting deep and hard yesterday and today. All the best everyone.
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DQE has plenty of work with a 6 month back log. Wait a minute though they are of least value to the company......even though they have plenty of work.
Do we even have 6 months backlog? Not like things were booming pre-Covid 19 . I’m more concerned if DQ will be able to survive and come out the other end. I sure hope so but there is no end in sight to these woes .
Oil collapses to under $11 as world awash with crude
Something will happen this week or next week. Messy Oil industry.
Demand won’t increase any time soon. Storage is full.
There is also speculation that China may go into a second lock down due to another increase in COVID-19 post reduction in restrictions. 2020 is going to be a rocky road for all and DQ won’t be any different.
I’ll be surprised if we get out of this without any lay offs. The WTI price has absolutely bombed today, the Brent price holding slightly better. Does this mean US orders will be hit more than UK orders ?
We need everyone to get back to work so the demand for oil increases, the longer this goes on the worse the outcome will be.
We still can control our destiny in such a dark time. Now more than ever flawless delivery and executing on time will determine our fate.
They most likely will want the six month backlog log cleared first before reducing manufacturing headcount.
Oil-Industry Collapse Accelerates With Scores of Rigs Going Dark.
- S. oil and gas rig count posts largest single-week drop since 2015, Texas leads declines
DQ will have limited of work. Non of them invest money to looking for new oil rig.
Oil & gas industry sheds more than 6,000 jobs in a single day
And today, Houston-based Weatherford International laying off 6,000 workers.
Tenaris suspends operations. Halliburton, Baker Hughes cutting thousands of global jobs. Schlumberger Cuts Jobs, Slashes Dividend 75% in Historic Oil Rout. Many Shale Companies Are Already On The Brink Of Bankruptcy.
DQ will be the same one of them. Soon or later, but not sure what their plan.