Latest Thoughts

Here We Grow Again

As we initiate our weekly rig count update here at Infill Thinking, it is nice to be writing about growth again for the first time in two years. Since the May 27, 2016 bottom, the US land rig count is up 154 rigs or +41%. Recent growth has been largely driven …

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Schlumberger Pushes Pricing, Talks Superlaterals And Cyclical Bottom

On Schlumberger’s conference call Friday morning, CEO Paal Kibsgaard made one central theme very clear. He is preparing his organization for growth again. Conversations with almost every Schlumberger customer on pricing increases have begun. Outside of Asia Pacific, Kibsgaard sees tender shoots of recovery sprouting in every market across the globe. To read …

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Did You Catch Halliburton’s Big Tone Shift? It Signals A “Roll Up Your Sleeves” Sort Of Recovery Ahead

An important tone shift in how Halliburton addressed investors Wednesday morning foreshadows a different type of recovery ahead. Reading between the lines, we’ve dubbed the upcycle of the future a “roll up your sleeves” recovery. What will oilfield companies have to do to achieve prior KPIs in the recovery ahead? We discuss that and more… To …

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Halliburton’s 3Q16 Print Is Worthy Of Celebration

Breaking October 19, 2016 6:30am central. Halliburton released its 3Q16 earnings report, marking the start of earnings season in the oilfield. Relative to the second quarter, Halliburton’s sales in North America grew. This is the first revenue increase in seven quarters. This growth offset a continued decline in international business to keep total …

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At The Cusp Of 3Q16 EPS Season, The Worm Has Finally Turned

Oilfield earnings season begins this week with Halliburton’s conference call. The tone on this upcoming round of calls is likely to be more positive than any time in recent memory. In this Thinking Ahead we outline key calls to monitor and discuss seven key themes we expect to be prevalent during the imminent earnings season. …

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A Welcome Message From Infill Thinking’s Founding Author

Welcome to InfillThinking.com. I’m Joseph Triepke, Founder and Principal Research Analyst, and I want to thank you for spending some of your valuable time here. Infill Thinking was created to cover the O&G business with independent analytical updates of the highest caliber. Our goal here, in its simplest form, is to deliver the kind …

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The Good, The Bad, And The Ugly For Latin America Deepwater

Latin American deepwater exploration and development is largely driven by the two large NOCs in the region. Here lately, these NOCs have been slamming the brakes, particularly in Brazil where Petrobras is trying to recover from scandal that rivals Enron. Both NOCs are pruning their rig portfolios, resulting in negative demand for Latin American floaters. …

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Exclusivity Is Now On The Table As Offshore Operators And Drillers Try To Make It work

In news from Rowan Thursday afternoon, we observe drilling contract negotiations taking a different kind of turn. The usual dayrate, duration, and specification sticking points that operators and contractors haggle over are expanding as deal-makers seek creative solutions to downturn problems. Exclusivity is being granted by an operator in exchange for more favorable early-termination release. …

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Halliburton Throws Jabs At Schlumberger

Halliburton and its peers may share a common outlook, but they sure do differ on oilfield service strategy. Jeff Miller got a little chippy Tuesday, throwing some jabs at Schlumberger and other oilfield service firms as he described Halliburton’s advantages. We discuss Halliburton’s punches thrown, and review other important takeaways from Jeff’s talk. …

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The Savior Everyone Is Waiting For

The Barclays investor conference held in New York the week of Labor Day marks the start of the year-end news rush. A hot item at Barclays was a basic truth about the oil market: failing to offset natural declines will push oil prices higher every time. Today’s capex starvation is setting up tomorrow’s feast. To …

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