Anadarko’s 2018 capital spending program was released Thursday morning. It is one of the first detailed 2018 E&P budgets to be released this budget season. Given their focus on discipline and returns and leadership in crafting a sustainable framework for developing tight oil, Anadarko’s E&P capex budget should help establish …
Read More »In The Nation’s Two Biggest Liquids Plays, It’s A Tale Of Two Cities
In this weekly rig count update, we take a quick look at the rig count evolution of today’s two most important US onshore markets: West Texas and Oklahoma. You may remember the following chart from an update early this year when we wrote about the bifurcated Permian market place…. …
Read More »Reading The 2018 US E&P Capex Tea Leaves As Operators “Apologize” For Growing
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 …
Read More »Forum’s Revenue Inversion & M&A Strategy Underscore A Seller’s Market Developing In NAM Completions
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 …
Read More »9th Largest US Pressure Pumper Says Permian Completion Supply Chain & Logistics Are A Mess
Superior Energy Services, the ninth largest US pressure pumper by active horsepower, spoke comprehensively about the North American oilfield service market (and Permian completions in particular) on Tuesday morning. We’ve organized our notes from the conference call into the following key points. There’s a lot more to this story… Login …
Read More »Sharpest & Shortest Drilling Recovery In Modern US Land Rig History?
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, …
Read More »Marcellus Shale Drilling Permits Hit A Two-Year High
Starting this week, we begin an analytical tour around basins outside the Permian. The focus feature in each of our regular weekly rig count updates over the next couple weeks will provide an overview on D&C activity trends in key basins beyond West Texas. Here are five Marcellus Shale charts …
Read More »US Onshore Rig Count Keeps Sliding… Except In The Permian
The US land rig count peaked most recently on August 4, 2017. Since then, it is down 21 rigs and down again slightly this week. Without the Permian Basin, it’d be down even more. There’s a lot more to this story… Login to see the full update… To read this …
Read More »US Land Drillers Aren’t Sweating The Rig Count Dip
During the third quarter, the US onshore rig count trajectory has finally leveled off. We wrote about the stall a couple weeks ago in this update. Speaking at an investor conference last week, two leading land drillers shrugged off the industry-wide rig count stall. See what they said in the …
Read More »Harvey Impedes Baker Hughes Rig Count While South Texas Drilling Permits Fall
In an unusual step, Baker Hughes declared Friday that an update on South Texas rig count was impossible to capture last week due to Hurricane Harvey. New drilling permits show the impact though… and we quantify that in this update. There’s a lot more to this story… Login to see …
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