Ian Austin
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131 ExcellentAbout Ian Austin
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With all due respect, it was driven by the cheapest borrowing conditions in history, and it keeps going...and going....and going. The fallout is going to be scary.
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Given half the Pressure Pumpers are struggling with profitability, some shelving equipment etc, I if there’s a bit of a problem brewing. I can see it now (based on experience): Service Industry: were busier than ever, but don’t make a penny, we’re “right sizing” our fleet and laying off (pretty much all majors have...) Producers: we need more equipment. Gotta clear the backlog. Our wells are shittier than ever so we need a lot more of them Service Industry: Ok. We’ve taken an 80% hair cut since 2015, so we’ll need 30% above and beyond today’s rates to start up again Producers: .......... Service Industry: So, should we start assessing useless equipment and que up the Hiring Campaigns? Producers: ..............
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This is a great comment. Lots of sympathy for the services - they’ve been basically forced into working for the pleasure of serving the E&Ps over the last few years. Little-no profit and now activity is dropping. This business has been acting in an unsustainable manner for quite sometime. I keep wondering when the adults are going to stand up and right the ship, but I fear the adults have left the room
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It’s funny. I spent the majority of my career at Producers, with a year of consulting in the service industry. Since 2015, the Service industry has been hemorrhaging $, being forced to lose money for the honour of keeping busy. Procurement has taken over - it’s he only time in my career hat I’ve seen pleasure taken in “grinding down” a partner. I don’t think a lot of people in the industry understand that, if the relationship between Producers and Services isn’t symbiotic, then the industry will eventually work itself into a pickle
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Yes. I’m all for anybody’s right to protest. However, putting yourself on a playing field you don’t belong in should have consequences
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Douglas Sounds good - I’ll send a message later. Have a few things in the works. To be honest, he attitude is probably a little worse in Canada. It is almost complete oilpatch Armageddon here...
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Sorry, but given all of the pricing concessions made and the forthcoming writedowns/layoffs by the big guys (HAL/SLB), you could argue the service sector has been experiencing a recession for years.
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All correct. I think he though he was doing he right thing at the time. History of course proved otherwise
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Douglas I have heard many people reference this Great Crew Change. However, from the folks I know in most areas of the world, the people who were supposed to take over/mentor/train the young Engineers were jettisoned during the last downturn. Where/how exactly is that generation gap going to be filled, when the 35-45 Demo beared the brunt of 2015? Is it any coincidence that 1/2 the people who provided answers to your Hz WOB post are out of work, myself included? Not to jump to conclusions, but I think it is perfectly natural for a young Engineer to ask those questions - to be completely honest, I wonder if I’ve wasted 15 years of my life. Again, open to any alternative viewpoints
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Yes - true. However, I grew up in NL and they were always a taker, before the oil/gas industry took off
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Over the last couple of years: Alberta, BC, Saskatchewan and Newfoundland. Basically, the main oil/gas producing provinces
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Douglas, I hope this isn't too late. I've done quite a bit of drilling in both the long reach 3D wells you speak about, as well as long hz wells. For long Hz wells: 1) when utilizing RSS tools, getting weight to bit isn't that much of a problem. When rotary drilling, the friction vector is pointing somewhere between axially (drag) and rotationally (TQ). Depending on the ratio of the speeds of axial and rotary motion, often low axial/rotary sped ratios, there is little drag while rotating. I've seen this measured, via DH WOB subs with Wired Drill Pipe, and typically DH WOB is 70-75% of the Surface Applied weight. A similar case applies with conventional motors, with just a little difference in the friction vector, as rotary RPM is usually lower with the ABH/FBH motor (of course, that depends on the setting, which varies) 2) Conventional Tools (Sliding): this one gets a little more hairy. Luckily, buckling limits of the drillstring are higher when non-rotating. Some of the tricks I've seen employed (haven't seen DH WOB data to corroborate, but the ROP certainly does). The following are on top of the typical things done (HWDP to +/- 45 deg inc, DCs if necessary): - larger drill pipe: depending on the trade off with increased string weight (assuming the same grade), increases buckling resistance of the overall string - Lo-Tad subs inside casing: with large BURs in many of the long shale wells, a large % of friction (50 - 65%, depending on well profile, build length, Hz length ,and Buckling regime) is actually in the build section - mud lubricants: a good 1.5 - 2% Radiagreen EBL (or eME for high pH drilling fluids) if using a WBM. For OBM, there are lubriglide beads, with the requisite recovery unit - Slide Enhancers: the most common/famous would be the NOV/Andergauge Agitator. When first used, were placed entirely too close to the bit to be effective. The tool transfers rotary motion (basically a mud motor power section) through to axial vibration, via a shock tool. The vibration reduces normal force/friction/drag when sliding. In recent years, as people have gotten better at understanding where/how friction is generated, they've began to place them in the build section, or use multiple tools (one either above or in build, one further in the Hz section). Not exhaustive but I hope that this helps, clarifies, or spurs some conversation.
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Tom, I wish I could agree with you. Problem is Trudeau has weak opposition. Scheer wont win this election on his own - the only chance is hoping Trudeau talks himself out of power, which is a possibility. Right now, the most likely scenario is a Minority for one party or the other - that means the crazy Greens or NDP would hold the balance of power.
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By that argument, you could replace the US with (insert country here) and make the same argument. Is your position that we will have more oil than we need for generations?
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All anybody can say to that is 👍