The Drilldown: In-depth answers to oilfield questions
Richard & John Spears answer your questions & discuss the oilfield services industry. Got a question? Send it to firstname.lastname@example.org New episode every Monday!
info_outline Ep176: Going, going...... 09/21/2020
Ep176: Going, going...... Schlumberger has begun to reduce its exposure to the North American oilpatch. Richard and John discuss how this process will likely result in consolidation of important segments of the NAM market. We also chat about -- Does the possibility of a Biden administration impact the timing and/or success of this process? Will competitors or customers object to market consolidation?
info_outline Ep175: State of the Market - Renewables 09/14/2020
Ep175: State of the Market - Renewables Major oil companies are increasing their investment in renewable resources as they transform into btu- agnostic energy suppliers. Richard and John describe the US renewables market and discuss the outlook for this sector.
info_outline Ep170: The Outlook for Technology Development 08/03/2020
Ep170: The Outlook for Technology Development With reserves plentiful but facing limits on CO2 emissions, oil companies are re-focusing their R&D programs. What implications does this have for the oil service sector? Other topics discussed include: The link between oil service revenues and R&D budgets R&D’s “Blutarsky moment” The optimal length of a lecture
info_outline Ep169: What Do Q2 Results Mean for the Oilpatch? 07/28/2020
Ep169: What Do Q2 Results Mean for the Oilpatch? Looks like we were a bit too optimistic for Q2! This episode we contrast and compare the Q2 financial results of major oil service companies for clues about what is happening in NAM and International markets and the implications for technology development. Produced by Charlie Spears
info_outline Ep167: The Latest on Oilfield Service Price Discounting 07/13/2020
Ep167: The Latest on Oilfield Service Price Discounting Richard & John talk about what happens to oilfield service prices over the next few quarters.
info_outline Ep166: Tragedy or Comedy - What Oil & Gas Can Learn from Broadway 07/07/2020
Ep166: Tragedy or Comedy - What Oil & Gas Can Learn from Broadway Richard and John discuss the similarities and differences between the theatre business and the oil and gas industry and the challenges each faces in recovering from the pandemic. We also discuss movies with an exclamation point in the title!
info_outline Ep162: All For Naught 06/02/2020
Ep162: All For Naught Some oil companies have recently adopted the goal of reaching “net-zero” carbon emissions by 2050. John and Richard discuss when the net-zero target might start to affect decisions as to what types of exploration opportunities to pursue given the timeline for discovery and development. Other topics include: A brief history of the concept of zero
info_outline Ep161: Re-Discovering Exploration 05/26/2020
Ep161: Re-Discovering Exploration Exploratory activit has been hit hard by low commodity prices, but Richard & John make the case that it could stage a surprisingly strong recovery. Stranded assets vs profitable production Oil versus gas exploration R&D implications
info_outline Ep156: What Price Differentials Are Telling Us 04/20/2020
Ep156: What Price Differentials Are Telling Us Richard and John discuss what the current $16 price differential between WTI and Brent is telling us about the current oil market and what the current $17 price differential between the May and July futures prices is telling us about the future oil market. Other topics addressed include: How much oil is exported on a global basis? How much US production is likely to be shut-in? What type of US production will first come back into the market? Ernest Hemingway and Charles Mackay
info_outline Ep153: Does US Oilfield Spending Go to Zero? 03/30/2020
Ep153: Does US Oilfield Spending Go to Zero? No matter the price of oil, no matter the trend in drilling activity, the number is $150 frac dollars per reservoir foot drilled. The only real switch occurred in Q1 2015 when things collapsed the first time, but $150 is our number. It would take a change in industry behavior to take another step downward in Q2 2020…perhaps that happens, but do we predict it today? Not really.
info_outline 152: A Unified Theory of the Oilpatch 03/23/2020
152: A Unified Theory of the Oilpatch Global oil inventories are set to increase due to the drop in oil demand and the rise in OPEC+ output. Richard and John discuss how much inventories might rise, how long it will take before they are back to normal, and the implications for US oilfield activity, oil production and oil prices.
info_outline Ep151: $32 oil. What now? 03/16/2020
Ep151: $32 oil. What now? Richard and John discuss the near-term impact of $32 oil on drilling and completion activity and revenues for selected market segments and oil service companies. In addition, they consider how the drop in drilling and completion will impact US oil production and what that means for the long-term outlook for oil prices.
info_outline Ep150: An Oilfield Crime 03/09/2020
Ep150: An Oilfield Crime Richard and John discuss the “Killers of the Flower Moon”, a book (and soon to be a movie) about a 1920s conspiracy to murder Osage Indians for their oil royalties and what became one of the FBI’s first major homicide investigations.