“Devon’s top priority in 2016 is to protect the balance sheet,” Chief Executive David Hager said in the statement.
Full story.
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2.17.2016
This Is Not Good For Wise County
“Devon’s top priority in 2016 is to protect the balance sheet,” Chief Executive David Hager said in the statement.
Full story.
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36 comments:
It's ok. F#$@ those oilfield hands! They just blue that money on beer and women...
And food at restaurants...
And tips...
And tire shops...
And the mall...
And the convenience stores...
And the ohv park...
And the random places of business...
And the car lots...
But it won't affect me! I love the low gas prices!
Viva la OPEC!
DF unt student
They should have joined the steelworkers union like refinery workers. If Lon Burnam gets elected, they are history.
Old news, scoop.
10:38
What is the solution?
Oil import Tariff?
Minimum gas price enforced by government?
Nationalize the oil industry?
Bomb OPEC nations?
We would all like to see a solution that is not one sided in favor of consumer or producer.
Is that what you wanted?
I heard jebbush.com now is owned by TRUMP!
Check it out!
Ya, thanks to our current administration and their dealings with the Saudi's!
They needed new tires on the new vehicles after spilling the beer on the new jeans as they run over they new dog in front of the new trailer on the way to the ohv park.
Well. At least the dogs will be saved now.
My point is, at first, most were happy about this, and quick to dismiss the loss of oilfield jobs as: we don't care about them, it's better for us.
But they are just now understanding trickle down.
As an oilfield hand, I've worked hard, and made good money. I am still employed as of now, and have saved enough through the years to weather the storm thus far. But, I have stopped eating out, stopped leaving 10-15$ tips to the waitstaff, stopped buying new when it breaks, and started fixing instead... All this leads to, if we aren't making money, then we aren't spreading it around. And now the trickle down is starting to pinch more than just the roughneck...
Low gas prices aren't so good if you can't afford to go anywhere...
I don't know the solution long term, but oil spoils... This oversupply won't last forever, and God help us when this pendulum swings the other way.
10:38
This is great news, right? Tax revenues go way down, we have to trim all the police from the payroll...and then, FINALLY, all the kind, warm, generous people can live in the spirit of goodness and loving thy neighbor that would be allowed to occur if only there were no police officers to harass us.
Like in New Orleans after the flooding from Katrina, for example, when citizens suddenly faced with a lack of law enforcement got about the business of tidying up their community, painting fences and helping old ladies across the street.
Yeah but those poor abused employees won't have to put up the "the man" any longer.
what they forget to tell you is Devon just spent 4 billion on buying 2 oil companies and promoting 10 new Sr. Vice presidents while letting the workers go that makes them the money. Most smart people would not be spending that kind of capital when oil is below 30 per barrel.
12:48 or they could be buying it now because the price is so low due to the prices?
When tax revenues for companies disappear, the county central appraisal districts take it out on the residents.
12:38 got it right...the oil/gas field workers spent a lot of money...the loss will trickle down...so sorry for them.
Dang... Now Brandi's will have to pull back all those price increases they've been adding for the last year.
This is how the industry has always worked. Ups, and downs. Hope you boys weren't blowin and goin living nigger-rich. You knew this was coming. Its your own fault for not stashing a nut.
So trickle down economics works on the micro scale but not on the macro scale?
Let us soak the rich to make up for it.
Let's just make everything more expensive and pay everyone more money. It will all just trickle down, so it must be great! Go learn a new skill other than meth and moving pipes if you're not happy. It's not up to the rest of us to supplement your lifestyle by paying more for something.
And the majority of these ass clowns will suck the unemployment teet because they will actually make more on unemployment than they would working a "normal" job. Pathetic.
3:13 Hey, there is good money in meth!
Heisenburg
"Blue" or "blew"?????
You are right 4:20....oil filed trash
Hey oil field trash....how about actually SAVING some of that scratch instead of buying the 3rd Raptor or the expensive vacation where you FB your blubbery fat ass and showcase your wife's bolt-on 40DDs! Then maybe you'd be able to weather the downturn until the drilling resumes!
I don't believe that the majority of the people loosing their jobs are "oilfield trash"! I'm sure alot of the office staff will be cut.
I am oilfield trash and I resent what a lot of you are saying. Being oilfield trash meant my dad worked long, hard hours. He built a house. He eventually owned his own company. My mom worked for other oilfield trash companies. They traveled and raised a family.
Other members of our family, who also bought or built houses, started businesses on the side, so they could afford the bust times of the boom n bust cycle. Some of us went to college. Some of us moved to other industries.
All of us were taught to respect people who work hard. Shame on you. Hard-working people are not trash, regardless of where they work.
10:38. So are you trash or hard working?
I see a lot of bro-dozers with "oilfield trash markings". Are they trash? Or hardworking? I can't tell by the way they drive.
The "trash" label does not come from how you earned the money. It comes from how you spend/save it.
Not much for humor or pop culture references I guess!
If his wife has 40DD's them I assume the drilling never stopped!
More good news from our made up 5% unemployment rate. Fortunately, Obama will be unemployed in 2017....can't happen soon enough.
You don't know me or my wife.. She only has 36DD and they were paid for by HER she works too. Yep oilfield has been good to Wise Co. for years now see what they use for Tax money when the price of oil is below $30.00. Your double wide just had the taxes go up on it.
You would think this might be the case but paying $20,000/acre for one of the companies is not exactly buying low
Regardless of what you think about " oilfield trash", this is devastating to our county, our state and our country! There will be a ripple effect! Devon has been a good neighbor in our community, from their generous support for United Way to supporting our youth! Our neighbor is hurting now. It will eventually hurt us all!
Corporate lives matter
6:47. The only reason there will be a ripple effect is because the oilfield overspent, over grew, and over charged for years. It's directley related to politics. Everyone one had to raise prices because of the overgrowth. And now everyone is tired of it and are glad to see it drop. Unfortunately the un educated oil field trash got tossed in the mix as pawns. They overspent and are now under worked with payments and debt.
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