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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 drilldownshow@gmail.com New episode every Monday!
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The Drilldown: In-depth answers to oilfield questions
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Now displaying: Page 1
Oct 20, 2020

What recent oil company mergers say about the outlook for E&P activity, supply chain consolidation and market share growth.

 

Produced by Charlie Spears

Oct 13, 2020

Richard and John discuss elements impacting free cash flow for US operators and how this will
determine E&P capex and rig activity going forward. Specific topics addressed include:

  • “Haircut” given to spot oil prices when setting capex budgets
  • Royalties, production taxes and operating costs
  • % going for debt reduction and shareholder returns
Oct 7, 2020

Richard and John discuss topics which caught their attention this week, including: Caterpillar’s
acquisition of Weir; Saudi breakeven pricing; Q3 OFS earnings expectations; and progress on nuclear
fusion.

Sep 28, 2020

Anecdotal evidence from Richard’s current road trip suggests US economic activity is largely returning to
normal and explains why the EIA has revised its estimates of Q4 US oil use significantly higher in recent
months. Richard and John discuss how this would impact inventory drawdowns and oil prices.

Sep 21, 2020

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?
Sep 14, 2020

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.

Sep 8, 2020

The recently-announced combination of Liberty and Schlumberger is shaking up the NAM frac market.
Richard and John discuss the outlook for activity and pricing over the coming year.

Aug 31, 2020

Richard and John discuss the process used to create and update the market size and share estimates
found in the Oilfield Market Report.

Aug 24, 2020

Natural gas demand is up, pricing recovers a bit. Is this sustainable going forward? We talk about what it looks like as the LNG market tightens up.

 

Produced by Charlie Spears

Aug 11, 2020

Our podcast today goes out to Warren Buffet & similar investors. We see a 3-phase recovery by market sector. Where & when should investors deploy their capital?

 


Produced by Charlie Spears

Aug 3, 2020

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

Jul 28, 2020

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

Jul 20, 2020

Is Q4 the new "spring dip"? Is drilling seasonality now driven by budget exhaustion?

Jul 13, 2020

Richard & John talk about what happens to oilfield service prices over the next few quarters.

Jul 7, 2020

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!

Jun 29, 2020

How much oilfield product/service line revenues were impacted Q2 as operators' slashed capex and what this means for supply chain resiliency.

Jun 22, 2020

Oil's back up, but rig count isn't. Why is that? We also discuss the changing landscape of market predicting.

Jun 9, 2020

What's going to happen to all the Drilled but uncompleted wells (DUCS) out there?

 

Produced by Charlie Spears

Jun 2, 2020

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
May 26, 2020

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
May 18, 2020

Richard and John discuss the key dates in 2020 for decisions that will set the course for oilfield activity in
the US, Canada and the Middle East in 2021.

May 11, 2020

Rapid fire questions on EOY oil price, which oilfield service sector will recover first, and Saudi Arabia.

May 4, 2020

In the spirit of Saturday's virtual Kentucky Derby, Richard & John call the action at the 2020 virtual Offshore Technology Conference.

Apr 27, 2020

Richard and John look outside the oilpatch to examples of surviving unprecedented events and
overcoming challenging tasks as lessons for today’s oil industry.

Apr 20, 2020

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
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