Oil

[BLACK W F]

Sir Ian Wood, who authored an authoritative review of the British oil and gas industry, said that the North Sea could shed 45,000 workers in 2016, which follows the loss of 65,000 jobs last year.

 

The contraction in the North Sea has been supercharged by low oil prices, but over the long-term the industry may not be able to turn things around. A February report from Douglas-Westwood, a consultancy, concluded that the British North Sea could see 150 oil platforms scrapped in just the next ten years. The report believes that decommissioning will take place in British waters much sooner than in Norway’s section of the North Sea. Wood Mackenzie found that one barrel out of every seven produced in the UK’s North Sea today is being produced at a loss. Another report found that half of the companies in the North Sea are also operating at a loss.

 

Earlier this year, Oil & Gas UK said that the oil industry in the North Sea was “at the edge of a chasm.†Higher oil prices will help stop the bleeding, but long-term growth appears to be off the table.

[cemetary]

When you look at the long term contracts drilling rigs had just over a year ago, there day rate was sky high, infact it was top dollar, some company's was raking in around $500,000 a day, now they are down around $220,000 just to keep there heads above the parapit, but when it was high, the garden was all rosey. They are feeling the pinch that's for sure, but not as much as the guys that worked for them, having to take massive wage cuts just to put food on the table, and getting shafted because the high knobs have had a re-shuffle on the way they have to run there business.

 

I for one don't feel anything for company's, I feel for the poor cents who have lost there jobs and all the business its affected.

 

Its getting dearer at the pumps, but not much work coming through for the offshore ex workers, wonder why that is eh.

 

As Alan has said about the de-commissioning, they have billions planked away for to have there structures removed, that's as safe as a brick in a house, that cant be touched. I hope it stays in British waters to allow some guys work, but there will be a twist in the tail, being cheaper to take it international waters as we don't have enough places for them to be berthed.

[BLACK W F]

its a sad reflection of the times Dougie but the knock on effects could be dire I know a couple of guys in Aberdeen with hotels *expletive removed* has fallen out of them cant fill rooms even at a 3rd of the prices ect houses arnt selling in fact many have lost a lot off them I know lads who have thrown the keys in cant afford to pay mortgages yes I feel for the many lads who have lost their jobs but in all honesty it was sitting at 120 dollars a barrel there was plenty smiles as the companys reaped huge profits now its dropped first thing they hit is work force cut numbers cut wages ect and there is no end in sight a lot more will join the 150000 that have gone out of this industry and yet u still have idiots spouting about oil SMP they would have bankrupted Scotland lets hope the prices rise to realistic prices so many can get into work and get the industry back on track

[john cumming]

Alan, where does the $17 to take it out the ground come from.

 

$17 a barrel i would say is about average to get the stuff out of the ground, ive worked on many many platforms thoughout the north sea and overseas and the cost to take the stuff out of the ground varies from platform to platform depending on the grade of oil & gas & condensate and technoligy even the pressure to pump it out of the resiviours , high pressure high tempreture is cheaper to extract oppossed to thicker dense oils with less pressure, hope this sheds a bit light on the matter chaps

 

john

[BLACK W F]

$17 a barrel i would say is about average to get the stuff out of the ground, ive worked on many many platforms thoughout the north sea and overseas and the cost to take the stuff out of the ground varies from platform to platform depending on the grade of oil & gas & condensate and technoligy even the pressure to pump it out of the resiviours , high pressure high tempreture is cheaper to extract oppossed to thicker dense oils with less pressure, hope this sheds a bit light on the matter chaps

 

john

John there is only 1 company able to pull it out for that most are running on the 20+ a barrel to get it out

[DJWa]

John there is only 1 company able to pull it out for that most are running on the 20+ a barrel to get it out

 

watched a documentary last year where some top oil executives

stated that the cut off for making a profit was around $25 a barrel

 

the oil companys are streamlining their staff but are still making large profits

 

just like the stock market you hold onto what you have till the price goes up then sell

 

was hearing at work today that there are around 20 new contracts starting up which

will need a few rigs to start up again

 

don't know the ins and outs of it but hope that's the start of the recovery

 

just this last 2 weeks we have seen more work come in, than in probably the last 2 or 3 months

[cemetary]

watched a documentary last year where some top oil executives

stated that the cut off for making a profit was around $25 a barrel

 

the oil companys are streamlining their staff but are still making large profits

 

just like the stock market you hold onto what you have till the price goes up then sell

 

was hearing at work today that there are around 20 new contracts starting up which

will need a few rigs to start up again

 

don't know the ins and outs of it but hope that's the start of the recovery

 

just this last 2 weeks we have seen more work come in, than in probably the last 2 or 3 months

 

 

Plenty in Invergordon, the thing is, them contracts will be filled, but the company with a good record can sweep the lot at a low price and maybe long term contracts, depends what's on the table.

 

Eye you hiding in the tea shack when the works getting done tae, :emoticon-0136-giggle:

[BLACK W F]

Plenty in Invergordon, the thing is, them contracts will be filled, but the company with a good record can sweep the lot at a low price and maybe long term contracts, depends what's on the table.

 

Eye you hiding in the tea shack when the works getting done tae, :emoticon-0136-giggle:

I don't think that's going to happen as loads more losing their jobs this month I know plenty on their 30 days and I know some big rig owners are looking at pulling out uk

[john cumming]

John there is only 1 company able to pull it out for that most are running on the 20+ a barrel to get it out

 

shearwater & elgin franklin both less than that but high temp high pressure & newer technology , many are nearer $30 dollars as we newsed about the other day, but not a good place to be plying your trade at just now, lot of uncertainty

 

 

john