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Up Topic Welding Industry / General Welding Discussion / Drilling predictions from Chesapeake
- - By Cactusthewelder (*****) Date 03-06-2009 20:10
If anyone is interested here is the report   http://www.chk.com/Investors/Documents/Current%20Outlook.pdf
Parent - - By rick harnish (***) Date 03-06-2009 21:39
Thank you, Cactus.
That made my head hurt, though. :)
Parent - - By Cactusthewelder (*****) Date 03-06-2009 23:47
In a nut shell, it says THINGS ARE LOOKING UP !!
Parent - - By rick harnish (***) Date 03-07-2009 01:13
Yeah, I was hopeing for the nut shell thing. Good news!
Seems impossible when I was reading about tanker ships storing oil, but you surely understand this business better than I do.
Parent - - By Cactusthewelder (*****) Date 03-07-2009 01:22
Those ships are the oil companies way of driving the price up. Once it goes up those ships will empty within a few days. They have to have more to put in the ships. Think about it. How much money do you think it takes to float a fully crewed up Super tanker off shore ? Answer... A BUNCH. It ain't free. It is a game that oil producers are playing because of the speculators predictions.
Parent - - By RioCampo (***) Date 03-07-2009 02:40
I read the other day storage tankers run $75,000 per day and up. Reckon they will share a little of the good fortune?
Parent - By rick harnish (***) Date 03-07-2009 02:58
Yeah, thats what I was reading too.
Parent - - By Cactusthewelder (*****) Date 03-07-2009 03:06
Figure a Tanker is $75,000.00 per day and the day rate for a rig is around 18-24k Do the math. Its all a game of high finance and we are the pawns
Parent - - By cyrus 07 (**) Date 03-07-2009 15:08 Edited 03-07-2009 15:17
Cactus, I seen on the news the other day chesapeake energy has 8 rigs around my area, north central Pa, they are around Big Flats ny 75 miles from my house, anyway they said by the end of may it would be 18 rigs and this aint Texas so that is a hell of alot of rigs for a place that never had any, Marcellus Shale go figure...also they are gonna start building rigs in Horseheads NY a ways from you guys but maybe something you would want to look into seeing how thats your thing, anyway just trying to let you know of some different ideas and places oh yeah one more thing to consider, the bars up here probably arent as big or fancy as they are in Texas but I could take you guys to some really good dives I know of and yeah there is a strip club or two around there lol....
Parent - - By dbigkahunna (****) Date 03-07-2009 15:42
Not gonna build many rigs on 4 dollar gas with 8 dollar cost. However drilling cost are diving, but because so many ar laid diwn. While CHK may say they are gonna drill, I see more rigs going down. This down turn will affect every aspect of the business. Wells need pipelines, compressor stations and processing plants. If this downturn last into summer, and you can go into survivor mode, coming out on the other end of it will be profitable.
Read this article: http://www.theoildrum.com/node/5169
The problem will be bringing qualified workers back into this industry. Me, I have heard about this guy called John Galt.
Anyone heard of him?
Who is John Galt?
Parent - By knslash (*) Date 03-07-2009 23:13
I too, have read Ayn Rand. Her books seem to be more relevant today than ever before.

ray-
Parent - - By Cactusthewelder (*****) Date 03-07-2009 23:47 Edited 03-08-2009 00:40
I have know John Gault for 20 years. he has more patents in the welding industry than Mr. Lincoln or Mr. Miller combined If he speaks I listen ! He is from Houston He met my Wife and I in Mesquite about 6 Months ago for Dinner. His name on here is Weldgault
Parent - By Cactusthewelder (*****) Date 03-07-2009 23:49
Why do you ask about John Gault ?
Parent - - By JTMcC (***) Date 03-08-2009 02:29
The transmission lines being built this year and next don't rely on current drilling activity, they will be built regardless. They will be the take away capability for holes already made. And the funding is in place for the vast majority of those lines so the current credit drought won't effect their construction either.

Oil patch work will slow with lower levels of drilling, but pipeline work will hold up fine with gas production at current levels. Main line contractors are booked solid for years. The only thing Cat is making a profit on right now is pipe laying equipment.

JTMcC.
Parent - - By Ateamhelper (*) Date 03-08-2009 04:36
Well guys ive been workiing for holloman thats been contracted by chesapeake for a little over a year now, and all of the sudden chesapeake not holloman is taking perdiem away company wide everyone im a helper but they r taking welders inspecters everyones and right now they kinda have you by the b!@#s. How crappy is that.
Parent - - By cmays (***) Date 03-10-2009 02:45
That cause chesapeake is out of money
Parent - - By Cactusthewelder (*****) Date 03-10-2009 03:15
So the rumor says. But I cant figure out how or why they are blowing wide open in West Virginia and PA. They own Nomac Drilling outright. Nomac is sending all of its rigs as well as 19 more to the PA shale play. They are about to begin building more rigs in all their yards.
Parent - By JohnJohn (**) Date 03-10-2009 03:44
My BIL works with XTO and Chesapeake as a high level salesman. He also works with Shell, Exxon and other big boys. He says XTO has more cash and Chesapeake relies more on credit, therefore they are more vulnerable at this time.There is speculation that Chesapeake will be aquired by Exxon before the years over, because Exxon wants to increase it's share in natural gas. But as you said, so the rumor says...

JohnJohn
Parent - - By Smooth Operator (***) Date 03-10-2009 22:37
Cactus,  I am in S.W. PA. used to pipeline back in late 70's, early 80's till the bottom dropped out of the oil market. Moved back to area and started a fab. shop been in business since 82. Any way started nose'in around this marcellus shale play and finally recieved a commitment to modify 58 rental tanks for hydro-fracing. Received word last Fri. from rental co. "tanks have been canceled" haven't called contact back yet to get particulars. I know two of the customers were Atlas and Chesapeake. Hope Brady starts for you soon.     PS. GO STEELERS on the hunt for #7.
Parent - By rick harnish (***) Date 03-10-2009 23:07
Dang!! I wanted to be the first to ask if you were looking for help!!
Parent - - By Cactusthewelder (*****) Date 03-11-2009 02:09
The reason you were canceled is this. Chesapeake owns Nomac and Yost Drilling outright. Nomac is moving all of their rigs in the south to the PA area as is the same with Yost. Along with that comes all of their company welders. Who need something to do. They are either bringing or building ALL of their own tanks
Parent - By Keplinger78 (**) Date 03-12-2009 09:35
Cactus is right. I know what he's talking about. I work for Nomak/Yost in Southern PA.They are changing everything around. They are bringing guys from out west and cutting out as much outside welding as they can.Don't know about the dates on the new rigs but they are going to happen.Nomac has no company welders we are all contractors,Yost has some company welders but they are going to be changing??? Let go,moved to a rig hand etc????There will be no more Yost welders from what I know.Before anyone ask me they are not looking for any welders,They will get them from out west where they have worked for Nomak before,That's what I was told.I work for the Guy over the welding in Ok and Pa.
I was lucky I got hired on by G Yost's son in law who ran the shop till Chesapeake took over,Or I'd be looking for work.

Later Tom K
Parent - - By Inspectorous (*) Date 03-08-2009 08:17
I don't have any documentation to back up this rumour. But I have heard a few different times, that they have the wells drilled but no way to get it out of the fields, that drilling is waitting on pipelines?????? Here is a nice fact....BLM has a guy (contractor?) that goes out with his bird dog and looks for various bird nests before a permit is issued for a ROW. Not to mention the archeologist, paleontologist......
Parent - - By Cole Welding (**) Date 03-10-2009 23:42
So when will it be safe to start lookuing for work again????
Parent - By Cactusthewelder (*****) Date 03-11-2009 02:06
Its always safe to look
Up Topic Welding Industry / General Welding Discussion / Drilling predictions from Chesapeake

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