Tag Archives: lower 48

With oil prices falling, it is worth noting what historical oil price / rig count relationships suggest about future drilling activity. In this update, we examine the oilfield reaction times that can be expected when oil prices move. There’s a lot more to this story… Login to see the full …

E&P transcripts we’ve seen from recent investor conferences have been pretty upbeat all things considered. Why? Oil prices are sub-$45 and under pressure. Well, shale has some tricks up its sleeve that allow it to keep going, and we break them down here. There’s a lot more to this story… …

Everything seems lined up for an incredible 2H17 for US completion service providers. Everything except for oil prices. In a week of rampant pessimism, our obligatory negative post introduces several new developments you won’t read about anywhere else including what one of the biggest pressure pumpers in the market is telling …

Schlumberger’s position and perspective on the North American market might best be described as a love-hate relationship. Endorsing the Lower 48 onshore outlook is simply not in Schlumberger’s DNA. Even as the company describes challenges that may make the North American E&P model unsustainable, it can’t resist getting bigger in …

Nabors released an operational update Monday morning, disclosing how the rapid US rig count growth trajectory during the first quarter is impacting their business. Like Halliburton, Nabors is incurring unexpected costs associated with the outsized growth relative to prior expectations. There’s a lot more to this story… Login to see …

Land drilling / pressure pumping hybrids Patterson-UTI and Seventy Seven Energy have agreed to join forces as 2016 draws to a close. Patterson-UTI will purchase Seventy Seven Energy for $1.76bn in an all-stock deal that includes the assumption and repayment of $336mm of net debt. This deal isn’t a bargain, as …

Helmerich & Payne’s FlexRig3s have made the company the best-in-class US land driller for a decade. Ask any analyst who the best land driller with the best fleet is and they’ll say H&P almost unanimously. But will that always be the case? Now for the first time in a decade, management is having …