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Oil Patch: What's it Like Right Now
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<blockquote data-quote="Mort" data-source="post: 303612" data-attributes="member: 361"><p>Would have to mirror eyexer comments, but would add that there are only 12 rigs drilling compared to 61 last year to this day. They are still trying to frac what wells that were punched back when they had 200 rigs were going nuts. In fact, to me, it makes no sense to keeping drilling when you still have hundreds of wells to frac and get completed with the oil prices at what they are. So right now, wells that are in need of maintenance, they only fix what they need, some companies are struggling to pay their bills right now and I know that first hand and I will not name company. We will never see a boom like 2008-2015 again, sorry. People came gushing and and they went gushing out, didn't want to invest in this area, sad.</p></blockquote><p></p>
[QUOTE="Mort, post: 303612, member: 361"] Would have to mirror eyexer comments, but would add that there are only 12 rigs drilling compared to 61 last year to this day. They are still trying to frac what wells that were punched back when they had 200 rigs were going nuts. In fact, to me, it makes no sense to keeping drilling when you still have hundreds of wells to frac and get completed with the oil prices at what they are. So right now, wells that are in need of maintenance, they only fix what they need, some companies are struggling to pay their bills right now and I know that first hand and I will not name company. We will never see a boom like 2008-2015 again, sorry. People came gushing and and they went gushing out, didn't want to invest in this area, sad. [/QUOTE]
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