Folks in oil dependent state doing OK?

[look 171]

Cheap fuel with people not driving to work, staying home yapping on the phone trying to keep things together, how are you guys holding up in those states, and Alberta? I have not talked with my cousins but I do know a couple of them are tied to the oil industry. I feel bad for them and some folks are going get hurt by all this.

[GH85Carrera]

The bust is in full swing. With a barrel of oil at give away prices now most all production is slowing to a crawl. Why pump and sell oil at a cost below production rates?

Gas prices are crazy low. A local Costco is selling gasoline at the pump here is Oklahoma City for $0.99 per gallon. A buck a gallon is crazy. Back in the stone ages when I started driving gasoline was 20 to 25 cents per gallon. With inflation that 25 cents is equal to $1.60 now. The fuel taxes have certainly gone way up.

So gas is cheap and no one is traveling.

[slow&rusty]

Its definitely tough times exacerbated by significant international factors well beyond our fence lines. Lots of operators and service companies alike are feeling the tight squeeze and reducing staff, there is still some drilling in West Texas but it has drastically slowed.

I believe we will see a reasonable improvement once we get through this Corona virus issue, there will be an increase in global demand which be a huge help.

[unclebilly]

It is Very Bad.

[unclebilly]

It went from a very active beginning of Q1 to absolutely nothing in 1 week. Q2 here is normally slow due to break up (mud season when the frost comes out of the ground).

The virus has nearly every company shut down. Some field crews are still active but maybe 5%.

We have had orders cancelled around the world. We are trying to expand our Russian and ME markets but can’t get into these countries given the travel restrictions. The big international conferences we exhibit at have all been cancelled.

Coronavirus and low oil prices... you are the ‘F-word’!