Well it looks like it's merely a matter of time for most all of us. What other jobs and industries will be hiring ex-O&G folks? What's the next big industry especially in terms of energy? Should we go into batteries, solar, downstream, ideas?
5 replies (most recent on top)
Go downstream in this transition, go to PSX! See "Inside Phillips 66 New Houston HQ" at "American City Business Journals". It's Beautiful & it's Huge!
Are you willing to be 3 times more productive for half the salary, a miserable 401K and no 9/80?
This is the picture of the real world out there and the type of Industry you will probably end up.
Pay bills off, cut back on non-essential expenses. Pray!
Then pick yourself up and take a job making a LOT less than before just like I did before getting cut. With no one to support me, I had to do that just to keep the lights on and get health insurance.
It still hurts, but when I read the message board, I think I may have been one of the lucky ones to get cut and find a job before the employment market is flooded.
God bless you and keep you!
Buy some knee pads, you and many others will join the world's oldest profession.
Lets use the same logic as the prior post and keep it simple and high level once again:
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assume productivity halves as we move out from the core
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assume we have reached a limit on D&C
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US production falls 50%,
Here is the math - 1x2x2=4
If we started this crisis with 600 (keep the math simple) we should dip to 100 and then recover to 400.
The questions we should be asking ourselves are:
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how long will it take for US production to halve, 4 years?
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how long will it take for enough of the core to be drilled that insividual well EUR falls by 50%
The answer is it is longer than most of us can last out of a job.