Infill Thoughts

The shock of Trump’s come from behind victory will reverberate throughout the world, the capital markets, and even the oil industry for multiple news cycles. The upset is being called the biggest US news story since the 9/11 tragedy. An important O&G win in the Rockies Tuesday night was overshadowed by …

We examine an interesting correlation between Hilary’s lead and the rig count bottom. There’s a lot more to this story… Login to see the full update…  To read this update and receive our research newsletters, you must be a member. If you are new to Infill Thinking, or your membership …

An internal challenge set by the Statoil front office this year tasked engineers with something that would have once been thought impossible: turn a profit on a major new Barents Sea field development, the Johan Castberg, at $40 oil. Is $40 is the new $70? Statoil’s internal hurdle was lowered earlier this …

Leading Independent E&Ps like EOG Resources and Continental Resources are moving quickly now to complete their excess drilled but uncompleted (DUC) well inventories. The recent increase in oil prices into the $45 – $50 range was the signal to complete ’em if you got ’em. In this update we review the specifics …

Shares of Apache sank 7% Thursday, closing at their lowest level since the Alpine High wet gas discovery was announced in early-September. The transformational Reeves County discovery has made Apache the darling of investors for the past several months. Here’s what’s new… There’s a lot more to this story… Login to see …

As Infill Thinking readers are well aware, the protracted downturn for the industry as a whole has been particularly hard on offshore businesses. At the extreme end of the offshore pain spectrum sit the offshore supply vessel (OSV) contractors. Historically a commoditized service line with few barriers to entry, the OSV landscape now …

BP and Shell updated their spending outlooks Tuesday morning. The two Majors echoed recent reports from their peers by again lowering planned capex spending. As Independents selectively spend a little more in 4Q16 and prepare to reverse their budget cuts next year, the Majors continue to systematically lower their total spend. Optically, …

It’s been a busy 24 hours. Since Wednesday morning, a dozen upstream management teams have provided business outlooks via quarterly conference calls. While drinking from this information firehose, we’ve been logging the highlights. In this post, we dissect the eight most interesting things we took away for the oilfield business at …

As Baker prepares to exit the horsepower game, Weatherford is in no hurry to send frac packing. After reactivating 3 spreads between September to December, the company will end the year at 90% marketed utilization. Weatherford is not selling its million horsepower fleet, at least not any time soon. There’s a lot more to this story… …

For the past six months, Baker Hughes has publicly rethought its involvement in the pressure pumping business. Now a material transaction is possible before year-end. The initiative is part of the big push underway by all of the Big 3 oil service companies to lighten their asset bases. Said another way, the Big 3 …