Today is not my day. Just took a 12k a year pay cut. Guess it could be worse I still have a job.

That stinks. I'd smile, tell them appreciate still having the job...and start firing resumes out as fast as I could.

Well in my case working in the oilfield thats not much of an option right now.

Oilfield. Hell, $12,000 pay cut ain't nothing to somebody that makes $200K a year All joking aside, I hate it for ya

Yup they cut $15k profit sharing at my dad's company. Better than the vessel or rig being stacked and laid off like I was. Who do you work for?

I work for Helix ESG on the Q4000

Yeah we had a Helix/Canyon ROV crew on our vessel at Technip.

DEADorALIVE works for Diamond Offshore and was a ballast control operator on the O. Star (semi-submersible) until they stacked it. He was on that rig with some of the same people for 15 years. He was worried about a lay-off, too, for awhile but got sent to a drillship as a ship clerk for almost half the pay. We are very thankful that he is still working and still have the benefits, except for the profit sharing that they have stopped for the time being.

So, we understand the feeling.

Dang! Hate to hear that buddy!

My lab guy that works for me now was a driller for Diamond on the Ocean Patriot...operating mostly off the coast of Australia, New Zealand, and eastern rim of Asia.

Hate to hear this is happening to you folks. For those of us not in this line of work what is driving these wages down?

Depressed oil prices suppresses exploration.

I understand depressed oil prices suppress exploration but I am trying to understand the root cause. I know that manufacturing in China has slowed but is there a lot of fracking still taking place?
At one point there was a battle between OPEC and the fracking companies and OPEC was trying to drive them out of business by keeping production high.

Still the case. Not really even OPEC, per se....it's Saudi Arabia. OPEC wanted to cut back, Saudi said "damn the torpedoes", we're not cutting production. Of course, they have more cash reserves built up than others, so their economy can withstand it longer. Even the other OPEC countries aren't real happy with the Saudis right now, but there's really nothing they can do about it...other than wait it out. It will bounce back, but it will take some time...not even the Saudis can hold out forever.

Hoping it picks back up soon. Lot of people in this buisness without jobs.

No doubt. It's why I much prefer the downstream end.

I am in a process technology program at Baton Rouge Comunity college and will be finishing up in the fall. I already have a bachelors degree, what I am wondering though is if the depressed prices will hurt the chemical plants and refineries in Louisiana and Texas. I started the program because of all the expansion in chem plants and refineries coupled with the fact that a lot of the workforce will be retiring in the next 10 years. Also if anyone here works in refineries or chem plants any advice on getting a job would be appreciated. I will be looking for an internship this summer the schools sets them up for the students. I have great grades and great interpersonal skills, just do not have any experience in the industry.