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Liberator TJ1984
01-26-2007, 12:32 PM
Working for a Global Major oil Co......
Lots of Our Clients here in S.Tx. have started to Stack alot of Rigs lately , and leaks of mass layoffs and early retirement pakages are starting to be heard spoken from our upper Mgmnt. :jawdrop:
Damn Democrats :idea:
and I only need 4 more years to get my F'n ROLEX !!! :D

R.A.D.man
01-26-2007, 01:08 PM
I just hired two guys coming from two stacked rigs in a row.
I'm in the drilling business, but not petroleum, so when we start getting oilfield hands, it's slowing down.
Hang in there.

hoolign
01-26-2007, 02:01 PM
Not a one! This industry needs to slow down a bit! and it's called "racked" :rolleyes:

Mandelon
01-26-2007, 02:04 PM
Why? They aren't making money at $50 a bbl????

Liberator TJ1984
01-26-2007, 04:03 PM
Not a one! This industry needs to slow down a bit! and it's called "racked" :rolleyes:
"Racked" is when they kick you in the "Sac" when you come back on tower ,and tell you your rigs being "Stacked" :devil:

shockwaveharry
01-26-2007, 04:13 PM
"Racked" is when they kick you in the "Sac" when you come back on tower ,and tell you your rigs being "Stacked" :devil:
Sugar Bear to Mr. Big... The white crow flies at midnight! Repeat. The white crow flies at midnight!!!
What the hell are you guys talking about?

Liberator TJ1984
01-27-2007, 06:58 AM
Sugar Bear to Mr. Big... The white crow flies at midnight! Repeat. The white crow flies at midnight!!!
What the hell are you guys talking about?
When Oil Companies decide it it not worth the gamble>( i.e.plummeting oil prices,OPEC forcasts,National issues,etc,etc.. ) or expense/profit ratio to drill new oilwells they will put them essentialy in a secure area and Store>( rack / stack ) them untill things improve economicly or there is a greater demand for their need....this can also be caused by "flooding the market" with equipment and companies trying to lowball each other to obtain contracts to drill , this sometimes backfires on them and they are forced out of business or they get bought out

SmokinLowriderSS
01-27-2007, 07:23 AM
Why? They aren't making money at $50 a bbl????
Not enough to pay the bills, no.
Once the price of oil drops below a certain point, it is more expensive to pay US workers to find, drill for, and pump oil than it is to buy it from overseas and ship it here. Simple business. Time to reduce the overhead or the doors will close.
And again, a couple years ago with everyone screaming that the oil companies were making too much $$$$ on $3+ a gallon gasoline,
9 cents on the dollar was all the profit they made. $0.36 on $4 gasoline.
Everything else paid expenses of the business.
9 cents on the dollar is all the profit they are still making.
Banks typically turn 18 cents on a dollar.
My aircraft corp wants 20 cents on a dollar.

Ken F
01-27-2007, 07:30 AM
I spent quite a lot of time reading about this the other day. Seems what is happening is that the Saudi's are increasing production and flooding the market to put a strangle hold on Iran, cut off their oil profits and ratchet up the pressure on the embargo against Iran.
Ken F

bigq
01-27-2007, 07:44 AM
I spent quite a lot of time reading about this the other day. Seems what is happening is that the Saudi's are increasing production and flooding the market to put a strangle hold on Iran, cut off their oil profits and ratchet up the pressure on the embargo against Iran.
Ken F
That mifght make a little sense. I know most in the region, even though they hardly say publicly, want the nut job in Iran gone.
Oil price per barrel was at $40 before this big run up so how did they run the business then. It's not like it went up over a lond period of time.
How about we just cut the rest of the world off, drill our own oil and agree on a diffrent solution to fuel the autos and trucks.:idea:

Mandelon
01-27-2007, 08:07 AM
Let's go ahead and use up all the oil that can be bought from other countries first, and save ours for when we really need it.
Once the Arab peninsula is melted glass, then we'll be the oil rich country again. :D

hoolign
01-27-2007, 08:53 AM
Let's go ahead and use up all the oil that can be bought from other countries first, and save ours for when we really need it.
Once the Arab peninsula is melted glass, then we'll be the oil rich country again. :D
That's a long way to go! you guys are 11 on the list of largest reserves, but using 20,000,000 million + barrels a day ..shouldn't take to long :D

Tom Brown
01-27-2007, 08:55 AM
I'm in the drilling business, but not petroleum, so when we start getting oilfield hands, it's slowing down.
I take it you run a gigolo escort service.

Tom Brown
01-27-2007, 09:05 AM
so how do you figure 9 cents profit, if i read that right, here in Az gas is still selling for 2.21 to 2.41 for reg (87), in the midwest its down to 1.90 to 2.00, my math says that at a 1.90, there still making money, and at 2.21 + there making a very nice profit!!:mad: it's a friggin game the ragheads and the the rest of the world play including us, to drive the economy one way or another.
Before you get yourself in a huff, keep in mind they aren't pumping gasoline out of the ground. They are extracting unrefined crude.

Blown 472
01-27-2007, 09:22 AM
Not enough to pay the bills, no.
Once the price of oil drops below a certain point, it is more expensive to pay US workers to find, drill for, and pump oil than it is to buy it from overseas and ship it here. Simple business. Time to reduce the overhead or the doors will close.
And again, a couple years ago with everyone screaming that the oil companies were making too much $$$$ on $3+ a gallon gasoline,
9 cents on the dollar was all the profit they made. $0.36 on $4 gasoline.
Everything else paid expenses of the business.
9 cents on the dollar is all the profit they are still making.
Banks typically turn 18 cents on a dollar.
My aircraft corp wants 20 cents on a dollar.
And they had record profits when? you are lame.

Jesster
01-27-2007, 10:00 AM
And they had record profits when? you are lame.
Do you really think oil companies only source of profit is the products they sell? That they aren't taking profit from any other source? The markets are open to oil companies also, and they invest heavily. The markets are at record levels because the economy is so good. The oil companies have every right to invest the profits they take from oil into other money making activities, but the politicians see the profits only, and where they can spend them. Then there is the fact that when corporations are profitable they spend money, the investors getting their dividend checks spend money, the investors selling the stock for large profit spend the money and everybody benefits. When we quit benefiting is when our oh so trustworthy politicians who's approval rating tends to stay pretty close to where Bush's is now, get hold of the money and start the "redistribution" process that the waste begins to occur.

R.A.D.man
01-27-2007, 10:07 AM
I take it you run a gigolo escort service.
I'm just a gigilo and everywhere I go............

Liberator TJ1984
01-27-2007, 01:59 PM
That mifght make a little sense. I know most in the region, even though they hardly say publicly, want the nut job in Iran gone.
Oil price per barrel was at $40 before this big run up so how did they run the business then. It's not like it went up over a lond period of time.
How about we just cut the rest of the world off, drill our own oil and agree on a diffrent solution to fuel the autos and trucks.:idea:
Bigg , one other cost of gas most people forget about and blame the oil company for is.............
TAXES on the fuel you buy , depending on where you are located ? this can be almost $ 1 per gallon :mad: at least so I've heard , so that $3 gas is actually $2 the oil company has to work with
anyone know the exact percentage?? Unka Sammy gets:confused:

Mandelon
01-27-2007, 02:04 PM
It varies from state to state but I believe the fed portion is 18 cents a gallon and 17 cents here in California. Its printed on a sticker on the side of the pump. Plus the state gets sales tax on top of that, so they like higher priced fuel.

Tahiti350
01-27-2007, 04:39 PM
Washinton $.36 a gallon, Oregon $.34 (I think, someplace in that ball park though

Kim Hanson
01-27-2007, 07:50 PM
I work in the service part of it and in January so far..zero days off :( Wells keep going down and we fix them! This is the new thing ...Vapex Wells, pump down lots of propane to ...can't get into it, too long to explain okay........( . )( . )...........:D We are so busy that we can't find people to work, some people don't like to work everyday from 6 in the am to like 7 in the pm :( I look at it as , want to come see some toys I have bought working like this !
This is my rig :) This is also VAPEX WELLS :eek:
http://www.hotboatpics.com/pics/data/500/3742HPIM1055.JPG

Jbb
01-27-2007, 07:54 PM
I work in the service part of it and in January so far..zero days off :( Wells keep going down and we fix them! This is the new thing ...Vapex Wells, pump down lots of propane to ...can't get into it, too long to explain okay........( . )( . )...........:D We are so busy that we can't find people to work, some people don't like to work everyday from 6 in the am to like 7 in the pm :( I look at it as , want to come see some toys I have bough working like this !
This is my rig :) This is also VAPEX WELLS :eek:
http://www.hotboatpics.com/pics/data/500/3742HPIM1055.JPG
My eyes just went crossed reading this........:D

Kim Hanson
01-27-2007, 08:11 PM
My eyes just went crossed reading this........:D
I knew the paint fume would attack sooner or later :D :D The clear is a biatch........( . )( . )..........:D :D

SmokinLowriderSS
01-28-2007, 02:10 AM
so how do you figure 9 cents profit, if i read that right, here in Az gas is still selling for 2.21 to 2.41 for reg (87), in the midwest its down to 1.90 to 2.00, my math says that at a 1.90, there still making money, and at 2.21 + there making a very nice profit!!:mad: it's a friggin game the ragheads and the the rest of the world play including us, to drive the economy one way or another.
Dig it out of the corporate reccords, it's public reccord.
Here, here's the easy version for ya.
Govt financial reports on energy companies (http://www.eia.doe.gov/emeu/finance/)
Cost of crude, roughly 56% of the cost of a gallon of gasoline,
Refining, add 17%
Distribution and End-point marketing, add 9% more.<--the money-maker
Have you looked up the FED and STATE TAXES on gasoline? Typically 18%
91% is costs.
9% left to profit.
Gasoline Taxes BY STATE (http://www.energy.ca.gov/gasoline/statistics/gas_taxes_by_state_2002.html)
Cali, 50 cents per gallon state & Fed
Az, 37.4 cents per gallon state & Fed
Nv, 51.7 cents per gallon state & Fed (the highest)
Ks, 42.4 cents per gallon state & Fed
Ak, 26.4 cents per gallon state & Fed (the lowest)
At $40 a barrell, gas is $2.30 a gallon. What was it at $75 a barrell 16 months ago? I seem to recall about $4.25. Almost 2x the price, on 2x the cost of crude.
What is the profit margin percentage of your company or employer?

SmokinLowriderSS
01-28-2007, 02:23 AM
And they had record profits when? you are lame.
Now much fuel was sold to generate that profit in dollars blown?
How much does that make the profit PER GALLON blown?
Here is a march 2005 number for ya blown:
U.S. gasoline consumption of 320,500,000 gallons per day (March 2005) works out to about 3700 gallons per second.
320 MILLION gallons A DAY blown. What's 9% of that?
What's the profit margin of YOUR employer blown?
Mine is lucky if we make 10%, parent corporation wants 20%. 10% for investors, 10% for re-investment in new designs and equipment.
Also blown, a 42-gallon barrel of oil makes about 19.5 gallons of gasoline.
What's the cost of 21,930,000 barells of oil blown? That was the DAILY USE in 2005, for all purposes, Gasoline, Diesel, kerosene, fuel oil, motor oil, grease, rubber, tar, and PLASTICS.

pgf127rt
01-28-2007, 03:29 PM
Working for a Global Major oil Co......
Lots of Our Clients here in S.Tx. have started to Stack alot of Rigs lately , and leaks of mass layoffs and early retirement pakages are starting to be heard spoken from our upper Mgmnt. :jawdrop:
Damn Democrats :idea:
and I only need 4 more years to get my F'n ROLEX !!! :D
There is plenty of drilling going on in the area where I live, but it is horizontal drilling in the Barnett shale for natural gas, and there are ads in every form of media for help.
Won't help your retirement but at least there is a lot of work in this area and they are paying good $$$$ to q'fied people.

Schiada76
01-28-2007, 04:09 PM
What do oil companies make on a gallon of gasoline?
A multitude of factors can affect an individual oil company's profit on gasoline sales. However, in general, if gasoline is selling at about $3 a gallon, major companies make a profit of about 10 cents a gallon on their U.S. refining and marketing operations based on data gathered by the Energy Information Administration (EIA). Profitability factors include the efficiency of the firm's refining, distribution and marketing system, as well as its source of raw material. In times of rising oil prices, companies that own and produce a considerable portion of the crude oil used in their refineries may benefit more than other companies that must purchase most or all of their supplies on the open market.
Crude oil generally represents the single greatest cost component of gasoline, which explains why gasoline prices rise and fall so quickly with changes in the world price of crude oil. For example, at ConocoPhillips, crude oil costs make up 85 to 90 percent of the total costs of running its refineries. As an international commodity, crude oil is bought and sold 24 hours a day, so its price is changing constantly. In the matter of a day or two, crude oil prices can move up or down by several dollars, depending upon supply and demand factors.
In general, crude oil accounts for roughly half of gasoline's price, as shown in the graphic. Other price components include refining, distribution (pipelines and tanker trucks) and marketing (service stations and convenience stores). These so-called "downstream" costs have been falling as companies have made operations more efficient. When gasoline reaches the pump, another major factor comes into play – federal, state and local taxes – which average about 20 percent or more of the pump price. The federal tax is 18.4 cents per gallon, while state and local taxes vary from 8 cents in Alaska to nearly 50 cents per gallon in New York.

Schiada76
01-28-2007, 04:11 PM
And they had record profits when? you are lame.
On record sales.
If you look at my last post it looks it would the gubment fawking us, state, local and federal.
I'm shocked!:sqeyes:
Does anyone know the % total of gasoline sales relative to net profit at any oil company?

TCHB
01-28-2007, 07:21 PM
NEW YORK (CNNMoney.com) - Exxon Mobil Corp. set U.S. records for annual and quarterly profits Monday as it easily topped fourth-quarter earnings forecasts.
The nation's largest oil company reported net income in the fourth quarter of $10.7 billion, or $1.71 a share, compared to $8.4 billion, or $1.30 a share, a year earlier.
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Excluding items, Exxon Mobil (Research) earned $10.3 billion, or $1.65 per share, topping a consensus forecast of $1.44 a share from analysts surveyed by earnings tracker First Call. It also topped the record for quarterly profits it set in the third quarter, when it earned $9.9 billion.
Shares of Exxon Mobil gained 2 percent in early-afternoon trading, helping to take the Dow into positive territory.
For the year the company earned net income of $36.1 billion, or $33.9 billion excluding special items. That's up 31 percent from the $25.9 billion it earned on that basis year earlier.
Exxon Mobil's 2005 net income for the year comes to $1,146 a second. That per-second profit is enough to pay for gas for the average American vehicle to be driven 10,294 miles, at current gasoline prices.
While oil and gasoline prices in the fourth quarter were down from the levels seen in September, that barely dented Exxon Mobil's top line. Revenue for the quarter was $99.7 billion, up from $81.9 billion in the year-earlier quarter, and down only 1 percent from the $100.7 billion in revenue in the third quarter. Full-year revenue came to $371 billion, or just over $1 billion a day.
The Exxon Mobil earnings statement was almost defensive about the record profit.
"There is a great deal of public interest in global energy prices," said a statement attributed to Exxon Mobil Chairman Rex Tillerson. "We recognize that consumers worldwide want and need reliable supplies of affordable energy -- to fuel their vehicles, light and heat their homes and run their businesses. Our strong financial results will continue to allow us to make significant, long-term investments required to do our part in meeting the world's energy needs."
Henry Hubble, Exxon Mobil's vice president of investor relations, told analysts and investors during a conference call that the company had returned about $23 billion to shareholders in 2005 through dividends and share repurchases. The company raised its dividend to 32 cents in the first quarter from 29 cents in the fourth quarter. The company has increased its dividend for 29 consecutive years.
"Our earnings reflect our ability to capture the strong industry condition. More importantly they highlight the things we do exceptionally well," Hubble said, detailing work to deliver strong operating margins and its investment strategy.
Fadel Gheit, oil analyst with Oppenheimer, said the company beat expectations by recovering faster than expected from the hurricanes that hit the Gulf Coast near the end of the third quarter and by posting strong margins in its refining and marketing units, the side of the oil business that can often be squeezed by higher oil prices.
Despite the company record cash flow and a strong cash position on its balance sheet, he doubts the company will use any of its wealth to buy other companies as some competitors have done. Company officials have said they don't want to buy oil assets at current prices but Gheit said he thinks there are also political reasons behind their reluctance.
"That would invite unnecessary and unwanted scrutiny of Exxon," he said

shirkey4750
01-28-2007, 07:37 PM
The natural gas producer/transporter company that I work for had a field that produced CO2. This made more money that the natural gas that was produced. They have a big contract with Coors beer, as it is a natural product.