Oil price predicted to fall to $60 unless OPEC cuts back

[sk_wheatking]

I hope land never goes down. I don't know why anyone that owns land would ever want 50,000 dollar quarters again. First that would mean the economy is screwed up. Second it makes your net worth...well......worthless. Guys line up for 600,000 dollar combines and 400,000 dollar sprayers and the like that are worthless in 3-5 years then moan about buying land for 1000 dollars an acre. Oh and I get a kick out of guys who run down land that is not up to their standards of assessment. You will grow the same crop on land assessed at 60,000 as land assessed at 100,000. I do it and many others as well. For most guys though if land is assessed 60 or 70 thousand, well it's garbage. Just my thoughts guys.

[Klause]

Sf3 drilling in Canada will be down at most 10%. Current rig count is ahead of forcast though.


Drilling has gotten cheaper with lower day rates for rigs and services...

60 bucks may shock the market but a lot of the newer oil plays are non conventional, take more time to drill, and the wells don't last nearly as long.

[cottonpicken]

Venezuela released a preliminary statement saying no cut agreement,price dropping.

An arguement could be made that as this capital is pulled from this sector it could be put into ag,guess we will see.

[Klause]

October of last year... 357 rigs drilling in W. Canada.



October of this year... 403 rigs drilling.

[Klause]

October of last year... 357 rigs drilling in W. Canada.



October of this year... 403 rigs drilling.

[bucket]

Klause sounds like he has been putting his oil money into ag for a while now.

Visionary is what that should be called.

[sk_wheatking]

If it wasn't for the oilfield work lots of guys on here wouldn't be in the position they are in now. I know I definitely wouldn't be that's for sure.

[tweety]

Because the one with the most toys when they die, wins.

[sk_wheatking]

Yeah tweety maybe you then I guess. I'm talking about guys like myself klause and horse along with others I don't know about on here that built themselves up with their jobs in the patch.make fun of us all you want tweety,when a guy like klause bought his last truck I will bet you he paid cash,I know I did.......did you?

[tweety]

It wasn't a new truck, but yes. Maybe if i spent days and months away from my family in a stinky oil truck i would have bought a new one. But winters off are quite enjoyable and the money doesn't outweigh my very short time on this planet doing what i enjoy.

No one is making fun of you, its your decision how you want to spend your life energy. Work as hard as you want and buy all you want.