How are low oil prices affecting your business/trade?
- Thread starter WolfLMM
- Start date
Big difference here. My company builds custom natural gas, propane and gas engines. 2 months ago we cleared almost 800,000 $ in one month. This month were only doing 40 engines total
Ours is worse. We supply oil and gas companies. When they aren't drilling/exploring, they don't order any product.
We like to see 75k a day in sales. Takes 30k a day to pay the bills. Right now, for the last three weeks, we have been well under what it takes to keep the plant running. Night shift has been terminated. Over half our CNCs are sitting idle. Crazy times for us right now.
I work for Tennessee natural gas. We are strictly a midstream company, so our business is still booming but kindermorgan is our owner and they have investments in several areas including oil.overall profits are above target, but I would hate to be the owner of a drilling platform right now
Much of our wallboard goes to Canada, where the oil industry was booming, so construction was booming as well. As soon as the prices dropped, the ordered stopped coming in, and many orders were cancelled. Our plant shut down for a week.
We were running 7 days a week, 24 hours a day. Now we are running 3-4 days a week.
We used to work 12 hour shifts, now only 8's, no overtime allowed. It's costing me about $1250/month in lost wages.
But hey, I'm saving about $200/month on my fuel bill......
We were running 7 days a week, 24 hours a day. Now we are running 3-4 days a week.
We used to work 12 hour shifts, now only 8's, no overtime allowed. It's costing me about $1250/month in lost wages.
But hey, I'm saving about $200/month on my fuel bill......
Mine burns close to 60,000+ gallons of fuel per day.... As you can imagine just a few pennies ads up to a substantial amount of money. Fuel and Electricity are the highest operating cost for the mining industry.
About 2.89 at the pump... The Mine buys Offroad in bulk, no idea what there paying.
It's funny that when oil prices go down, my atf prices stay the same. Then when prices go back up; my atf prices rise up again. I think the mafia is running the oil business.
It's funny that when oil prices go down, my atf prices stay the same. Then when prices go back up; my atf prices rise up again. I think the mafia is running the oil business.
I don't think your very far off there Mike...
im half owner of a rig moving/oilfield service company, we are watching rigs fall off left and right here in Colorado, its definitely getting interesting. If got a lot of friends getting laid off that work here in the DJ.
Ya its hitting us hard we haven't landed a job since November just finishing up projects right now hopefully we get something going soon or may be a built truck for sale
Nd is stacking rigs and projects are slowing on all fronts and to many people coming in undercutting the shit outta everything to just have a job
Nd is stacking rigs and projects are slowing on all fronts and to many people coming in undercutting the shit outta everything to just have a job
Little or no effect on my work. At least not yet. I work for an engineering firm that deals with solid waste, water/waste water and air. None of those industries in KY have been too adversely effected by oil. I'd imagine the fuel bill for our relatively small fleet of vehicles has gone down a little but nothing earth-moving.
Now, if it stays down a while, it should begin to trickle down in the pricing of goods and services but its too soon for that yet.
Now, if it stays down a while, it should begin to trickle down in the pricing of goods and services but its too soon for that yet.