US Oilfield Markets: How Pad Drilling is Driving Drilling Efficiency Up and Demand for Oilfield Services Down.

Speaker Richard B. Spears
Managing Director Spears & Associates, Inc. 8908 South Yale, Suite 440 Tulsa, Oklahoma 74137 USA 1.918.496.3434 1.918.760.8287 (mobile) rspears@spearsresearch.com With an engineering degree from Oklahoma State University and graduate work in industrial engineering, Richard Spears has worked in the upstream oil and gas industry since 1979, starting as a field ...

Managing Director


Spears & Associates, Inc.


8908 South Yale, Suite 440


Tulsa, Oklahoma 74137 USA


1.918.496.3434


1.918.760.8287 (mobile)


rspears@spearsresearch.com


With an engineering degree from Oklahoma State University and graduate work in industrial engineering, Richard Spears has worked in the upstream oil and gas industry since 1979, 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 500 clients worldwide, including all major oil companies, all major service companies and over one hundred private and institutional investors. Richard has been with the firm since 1985.


 


In addition to his responsibilities as Chairman of the Board of Abrado International, Richard is on the board of directors of several additional oilfield service companies: Varel International, a global drill bit manufacturer; Federal, a subsea connector manufacturer; Allied Wireline, an openhole and cased hole logging company; and W-Technology, a manufacturer of MWD components.  Board responsibilities include Audit, Compliance, Compensation and Strategy.  Richard is a 25 year member of the Society of Petroleum Engineers.


 



Richard and his wife Carol have three grown children and live in Tulsa.


Full Description

15,000’ horizontal wells in the Eagle Ford took 36 days to drill in 2010 and 23 days in 2012.  Directional drilling systems were in those same wells 15 days in 2010 and 13 days in 2012.  Two PDC bits were used below the intermediate string in 2010, but now just one.  Pad drilling in 2013 has advanced those trends even farther in 2013:  12 day wells, 5 days of directional…  The pace of acceleration in drilling efficiency may be without precedent in the industry and is having a profound impact on the oilfield’s service and equipment sector. 

 

Using data developed jointly with Oilfield Logix, Richard Spears will show how increasing efficiencies are creating US regional oilfield equipment and service markets that are falling despite rising new well counts.

 

Organizer Joe Tison - Greene, Tweed & Co.

WTison@GTweed.com


+1.281.450.8741

When?

Wed, Oct. 9, 2013
11:30 a.m. - 1 p.m. America/Chicago

How Much?

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Where?

Petroleum Club
800 Bell St
Houston, Texas 77002

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