Watching the block or thanking God he still has a job?
Approximately 15,000 to 17,000 good men and women have been sent to the house in the past 15 months in America's shale patch.
Who you work for, matters. Don't trust what your told to believe, do your own homework. If your company is deeply in debt and still relying on credit to drill new wells it will eventually catch up to them and you'll be let go. That is exactly what's happening now; the money is gone and rigs are getting stacked. It's way better to work for someone profitable, than unprofitable.
Tune out all the "it's just another cycle" dung heap; employment volatility, just like price volatility is all very avoidable these days. There is no reason to keep doing the same thing over and over again expecting the same results. I believe that's what they call...insanity.