Drilling permit data from March showed increased operator appetite for drilling and more room to run for the rig count. We share a chart capturing the trend and break down the permit data into actionable analysis on hot spots and top operators. There’s a lot more to this story… Login …
Read More »Infill Thoughts
Key Borrowing Base Survey Is Out. Findings Include Banker Amnesia & Loosening Purse Strings
Along with many others in the industry, we actively monitor the Haynes & Boone Spring borrowing base re-determination survey each year. Released this week, the law firm’s latest survey suggests that bankers have shrugged off the capital destruction left by the downturn’s 120 O&G bankruptcies. There’s a lot more to this …
Read More »As Statoil Ramps UK Exploration, Transocean Wins Contracts That Are More Interesting Than They Appear
Thanks in part to the renewed exploration push in the UK, Transocean just announced two new contracts for the Transocean Spitsbergen (a 2009-built UDW HDHE semi) for Statoil drilling programs. The dayrate is near break-even, but that’s the least interesting thing about these contract awards… Digging deeper, a $27mm difference in the contract …
Read More »The US Onshore Rig Count Is Now Eclipsing Most Year-End Estimates, And It’s Barely 2Q
Last November before the OPEC meeting, we published a 2017 US land rig count forecast, which called for about 825 US land rigs working at year-end 2017. At the time, our forecast called for sharper growth during 1H17 than consensus expectations, with the pace of activity gains leveling off during 2H17. In this …
Read More »Asked & Answered – Engaging A Full House At The Largest O&G Workforce Conference
Last week, we presented our business outlook for the oilfield to kick off the day at the WorkforceNEXT energy conference in Houston. This gathering is the largest for HR executives in the O&G industry each year. And attendance this year was a record high – a sign of the times. …
Read More »From West Texas Dunes, A Black Mountain Of Frac Sand Rises
Current members login here to read full story… West Texas Ranchers in Winkler County know the name Black Mountain Sand well. Now, operators in the Permian are getting to know the name Black Mountain Sand. Soon everyone that cares about frac sand will know the name. The company is working on the …
Read More »For Schlumberger, It’s Love And Hate In The Lower 48
Schlumberger’s position and perspective on the North American market might best be described as a love-hate relationship. Endorsing the Lower 48 onshore outlook is simply not in Schlumberger’s DNA. Even as the company describes challenges that may make the North American E&P model unsustainable, it can’t resist getting bigger in …
Read More »How Much Longer Will This Be An Unfair Recovery? The International Outlook Is Being Walked Back.
US tight oil activity continues to recover in a global vacuum. Since the US rig count bottomed in May 2016, international onshore drilling is essentially flat and offshore activity is down 14%. How much longer will this be the case? We share some important charts and describe how the outlook has …
Read More »Fulfilling The Promise Of Weatherford [Guest Post]
Note: Each Friday in March, we are passing the keyboard to one of our readers to share perspective from the field. We hope you enjoy the thoughts these hand-picked contributors have to share. This week, Doug Sheridan shares some unique perspective on Weatherford’s legacy problem and potential opportunity. There’s a …
Read More »Schlumberger Doubles Down On North America, Absorbs Weatherford’s Frac Horsepower
Friday was a potentially transformative day for the US frac business. Not to be outdone by Halliburton’s big news Friday morning, Schlumberger and Weatherford dropped their own bombshell Friday evening. Schlumberger and Weatherford are combining their hydraulic fracturing businesses into a OneStim JV, which will be 70% owned by Schlumberger. …
Read More »