Sept. 15, 2005


Description

Investing in Oilfield Technologies –
Why rig count doesn’t matter anymore

Since the Hughes Tool Company began counting drilling rigs 70 years ago, the oil and gas industry has used rig count to gauge the health of the industry – a climbing rig count pointed to better times ahead and a declining rig count signaled growing caution.  Industry leaders, however, are beginning to notice that some oilfield equipment and service companies are continuing to grow and prosper despite periods of declining rig count.  Although we work in an industry that will always rely on the drilling rig, drilling and completion technologies have advanced so rapidly that 2 rigs can now do the work that 3 rigs did just 5 years ago.  The dollars that an operator used to spend with the drilling contractor are now being spent on downhole drilling systems and bits, completion products and services, leading to declining fortunes for the contractor and record-breaking quarters for the smartest service companies.  Mr. Spears will point out the winners and the losers in this drilling and completion technology race and will identify the products and services most likely to spur the next round of investment. 
 
Richard B. Spears
Managing Director
Spears & Associates, Inc.
5110 South Yale, Suite 410
Tulsa, Oklahoma 74135 USA
1-918-496-3434
rspears@spearsresearch.com

Door Prize - 50$ Gift Certificate donated by
Hexion Specialty Chemical - Oilfield Technology

Featured Speakers

Speaker Richard Spears
Managing Director Spears and Associates, Inc. Richard Spears is a Managing Director of Spears & Associates, a 40 year old firm specializing in measuring and forecasting oilfield equipment & service markets around the world.  Current clients include most major oil companies, service companies and investment firms worldwide.  Spears' research and ...

Managing Director
Spears and Associates, Inc.

Richard Spears is a Managing Director of Spears & Associates, a 40 year old firm specializing in measuring and forecasting oilfield equipment & service markets around the world.  Current clients include most major oil companies, service companies and investment firms worldwide.  Spears' research and data is used to support most mergers and acquisitions that occur in the oilfield's service and equipment sector.  The firm has been providing the industry’s only commercial drilling forecast since 1982.  In addition to the firm's conventional work, Richard led World Bank missions to Russia's West Siberia (1992) and to Romania (1995) seeking lending and partnering opportunities in the upstream oil & gas sector.  Richard has a BS in engineering from Oklahoma State University and did graduate studies in Industrial Engineering.  He is a member of SPE.  With the firm 20 years, Richard previously worked as a field engineer for Halliburton.  Richard is a popular speaker in the industry and gives 15-20 talks to SPE, API and financial conferences each year on market trends and technology forecasts.

 


 


Full Description



Organizer

David Flores


Date and Time

Thu, Sept. 15, 2005

11:30 a.m. - 1 p.m.
(GMT-0500) US/Central

Event has ended

If you do not have a full-time job in the oil and gas industry, are a full-time student or Member in Transition (MiT) member, and you do not see a discounted registration fee for students/MiT regarding this event, please contact the GCS manager at spe-gcs@spe.org.


Location

Greenspoint Club

16925 Northchase
Houston, Texas 77060
US