Infill Thoughts

This week, E&P management teams talked with investors about the big picture framework and mindset this budget season. We recap the key takeaways from the key players and review the overarching themes of 2018 budget season and what this means for oilfield service contractors. There’s a lot more to this …

The unrivaled STACK E&P leader (and major Delaware player) said this Wednesday that they have contracted all of their 2018 frac sand requirements. This is newsworthy in and of itself, but more noteworthy is the geographical sourcing. We provide details and think through the market implications here. There’s a lot …

Last quarter, Mark was just getting his footing and undertaking a strategic review of the organization he inherited. This quarter, he got much more specific on what the Weatherford of the future will look like. Mark’s plan is more than a fresh coat of paint and new granite counter-tops. It’s …

On Tuesday, Forum Energy Technologies said their NAM completions business has become their largest revenue generator. Completions and production/infrastructure (C&P) segment revenues contribute 80% of the global oilfield products company’ top line. Moreover, 85% of Forum’s sales are onshore and 80% come from North America (NAM). This is a company …

A very constructive conference call this morning went along way to offsetting the investor disappointment on volumes sold during 3Q that we noted yesterday in this update. The stock reversed its after-hours decline and is trading materially higher this morning. Here are the key points we jotted down from the …

Wind presents a big risk factor for West Texas mines. It’s a challenge that mine builders don’t have to design to in Wisconsin, so cookie cutter designs may face issues with open sand pile erosion. After a windy week in West Texas, we put pen to paper to chart the …

Three of the largest US land drillers (together controlling 35% of the market) openly resisted the downward trending rig count last week. The US land rig count fell in 9 of the last 12 weeks and is off 5% from peak. The prevailing view has been that this decline would …

During earnings season, an ocean of content comes at you fast. 7,000 words are spoken on the average earnings conference call. There were 27 oilfield earnings conference calls this week. We did the math. That’s the word count equivalent of 200 Infill Thinking posts. How much of this info overload …

We take you behind the scenes in another market beyond the Permian that may be fully supplied by in-basin frac sand by the end of next year. The story of these new Louisiana sand mines reminds us that there is plenty of potential for in-basin deposits beyond the dunes of …

The falling rig count is playing heavily into early 3Q17 conference call discussions, particularly after last week’s big drop. We’ve long thought this correction was expected, but reaction to the decline reminds us that nothing is ever truly “priced in” until it happens. Here’s some context on where we’ve been, …