Recession just around the corner?

[straightshooter]

We're not far from canceling cable and our home phone.


Tapatalk is getting better...on my cell phone.

We ditched cable about 4 years ago now. At 100 bucks a month that's some serious saving.


Sent from my iPhone using Tapatalk

 

[SLEDBUNNYRACING]

See....that's motivation right there


Tapatalk is getting better...on my cell phone.

 

[ZRrrr]

Cenovus today....15% staff cutback, no raises, capital project spending reduction.

Friend was at RedL today and said they just laid off 14 due to the downturn. It's the multiples of those little ones that are going to add up.

......Good thing we have cheap TFW's!!

 

[-lenny-]

We're not far from canceling cable and our home phone.


Tapatalk is getting better...on my cell phone.

People still have those things?? No land line in 12 years, no cable for 5.

 

[cancritter]

Cenovus today....15% staff cutback, no raises, capital project spending reduction.

Friend was at RedL today and said they just laid off 14 due to the downturn. It's the multiples of those little ones that are going to add up.

......Good thing we have cheap TFW's!!

800...

 

[gates559]

even with all of these layoffs and cutting costs, I bet we still see a lot of company's with record profits this year.

 

[puddle]

[FONT=Helvetica, Arial, lucida grande, tahoma, verdana, arial, sans-serif]So my employees are early - mid 20's, and have never experienced an Alberta recession before. They hear about it and know there are jobs lost throughout the province. [/FONT]
Last week, when the gas price jumped at the pumps and the oil gained a little bit they figured they have weathered the storm and the recession was over. I had to laugh.

 

[Stompin Tom]

So my employees are early - mid 20's, and have never experienced an Alberta recession before. They hear about it and know there are jobs lost throughout the province.
Last week, when the gas price jumped at the pumps and the oil gained a little bit they figured they have weathered the storm and the recession was over. I had to laugh.

wishful thinking or naive? I think the latter. Maybe Timmies will be able to get some english speaking people to man the drive thu's.

 

[Snowdin]

Was out at Kaybob yesterday. Fox Creek and the Kaybob area have not slowed down one bit. The place is like an ant hill with activity.

 

[Bogger]

Fox Vegas never sleeps.....

Was out at Kaybob yesterday. Fox Creek and the Kaybob area have not slowed down one bit. The place is like an ant hill with activity.

 

[800HMX]

Was out at Kaybob yesterday. Fox Creek and the Kaybob area have not slowed down one bit. The place is like an ant hill with activity.

The rigs will be down after break-up. The majors in the area are going down for 4 to 5 months.

 

[800HMX]

even with all of these layoffs and cutting costs, I bet we still see a lot of company's with record profits this year.

I don't think so. All the Q4 results posted so far are not good. Q1-Q3 2015 will be way worse. There will be more capital and staff reductions announced as this goes on. The trickle down effect will be felt by all.

 

[sumx54]

I don't think so. All the Q4 results posted so far are not good. Q1-Q3 2015 will be way worse. There will be more capital and staff reductions announced as this goes on. The trickle down effect will be felt by all.

I agree.

 

[iceman5689]

"Was out at Kaybob yesterday. Fox Creek and the Kaybob area have not slowed down one bit. The place is like an ant hill with activity."

This is likely because Kaybob is a NG field, not oil field.[/I]

 

[Snowdin]

"Was out at Kaybob yesterday. Fox Creek and the Kaybob area have not slowed down one bit. The place is like an ant hill with activity."

This is likely because Kaybob is a NG field, not oil field.[/I]

Natural gas dropped same time oil did. Went from 4 ish bucks to 2.90 ish.

 

[Snowdin]

The rigs will be down after break-up. The majors in the area are going down for 4 to 5 months.

This happens pretty much every year. Roads are banned at break up until mid summer. Nothing much happens.

 

[sumx54]

This happens pretty much every year. Roads are banned at break up until mid summer. Nothing much happens.

Key words there being "after break-up"...
Our Fox Creek base is down 30% in revenue over this time last year. There is now a 10% wage roll back for all crews effective Feb 15th... Things are slowing.

 

[pfi572]

This happens pretty much every year. Roads are banned at break up until mid summer. Nothing much happens.

HMX800 has been in the oil industry for a lot of years and if some haven't picked on his shuttle comments so be it.
You would think upper management with some of these large players have a good idea on what the plans will be?
4-5 months after break up brings it into Q4. "Fall 2015"
I don't think we will see a big jump till mid 2016 but time will tell.
I work for a major and things are being planed for 2016 but nothing in 2015 except finishing up loose ends in Q1.
Time will tell.

 

[LennyR]

Every toilet has to be flushed every once in a while. It's infortunate , but necessary.

 

[rzrgade]

It's a lot like Polaris wheel bearings being changed....
either ya just done one or there is one coming up shortly...can't do much about it. Just get better and faster at fixin em....