stubblejumper:

Like you I have been involved with the oil & gas business for 7 years (I'm 30). My family however has owned and operated several oil & gas business over a 40+ year period. Over the years we have started 7 different companies, 4 of which we have sold because the price was right and/or we needed to free up some of our capital because we where interested in other oppurtunites. But I do find it hard to believe that your company has never had any layoffs or pay cuts, even the giants like Haliburton have had pay cuts and layoffs in the past. I have no "negative" outlook on the current state of the oil industry, I do however have a realistic outlook on the industry and I know that Americans will sooner or later say enough is enough and/or the gov. will do something about the high gas prices. Getting $55+ per barrel is not going to last forever.....


Yes the present and near future look very bright. But the oilfield is alot like playing the stock market. You can make alot of money or you can loose alot of money at the drop of a hat. The oil industry seems to boom for about a 5-8 year period, then it bust and levels off and after a while the cycle starts all over again. The reason so many companies are expanding so much is because they know they have a small window to make there money before the oppurtunity passes. My dad and myself are in the process of starting a recoil tubing business with 3 other guys. Our intentions are to set up the company and sell it to one of the larger companies in a few years, more then likely for a very nice finacial gain. The oil giants like Haliburton and Baker Hughes etc. love to have a monoply on the market and if you start a business and began competing with them (try to be a thorn in their side) then they will almost always buy you out, because they would rather spend big bucks then compete with anybody.

Anyway we have gotten way off topic from the original thread, but I guess that happend long ago. Take it easy, good hunting to all....