Drilling and AADE: The Drilling and Completion Equipment & Service Market in 2013

Speaker Richard Spears
Managing Director Spears and Associates, Inc. With an engineering degree from Oklahoma State University and graduate work in industrial engineering, Richard Spears has worked for 33 years in the upstream oil and gas industry, starting as a field engineer for Halliburton. Today, Richard is one of the managing directors of ...

Managing Director Spears and Associates, Inc.



With an engineering degree from Oklahoma State University and graduate work in industrial engineering, Richard Spears has worked for 33 years in the upstream oil and gas industry, starting as a field engineer for Halliburton. Today, Richard is one of the managing directors of Spears & Associates, an oilfield market research firm founded in 1965. The firm has 550 clients worldwide, including all major oil companies, many national oil companies, all major service companies and over one hundred private and institutional investors. Richard has been with the firm since 1985 and leads the firm’s mergers and acquisitions support practice.

 

Richard is a 27 year member of the Society of Petroleum Engineers and was an SPE Distinguished Lecturer 2005‐2006.  He is also a 25 year member of the Association of Energy Service Companies.

 

Richard is on the board of directors and is an owner of several oilfield service companies: Varel International, a global drill bit manufacturer; Federal, the company that built the devices the ultimately plugged the BP Macondo blowout; Allied Wireline, a oilfield service company that is commercializing GE’s digital openhole logging technology; and W-Technologies, a manufacturer of MWD components. 

 


Richard and his wife Carol have one son at the University of Tulsa, one son at the University of Oklahoma, and a daughter in high school in Tulsa.


Full Description
The oil and gas industry has been employing directional drilling for 35 years and hydraulic fracturing for 65 years, but the combination of the two in the Barnett Shale demonstrated to engineers that every known basin might be a candidate for horizontal wells with multiple-stage hydraulic fracturing.  Starting in 2004, E&P spending on drilling technologies and well completion equipment & services began to soar, setting records each year through 2008, and then again in 2010, 2011 and 2012.
 
Richard Spears will lead a discussion about his firm’s outlook for drilling and completion-related services in 2013 and the company’s forecast of the hydraulic fracturing market in 2012 and 2013.
Organizer Amy Timmons