Serving the Oilfield
Since 1965

Hot Topics

Dec 19, 16

Sand Shortage

Today we heard our first comment from the field about inability to get enough sand each day to run 24 hour operations in the Permian Basin.  COG has Pumpco fracturing a well and sand availability has been throttled ... read more »

Oct 10, 16

Service Contracts

In September 2016, oil companies began aggressively pursuing signing their service company providers to long term fixed price contracts.  Oil companies are offering multiple year contracts because oil company ... read more »

Oct 02, 16

Oil and Gas Investor Excerpt

From the Oil and Gas Investor, August 2016, pages 44 and onward: Oasis Petroleum:  15 days average from spud to rig release - 10,000' vertical, 10,000' lateral.  2 drilling rigs active.  1 frac ... read more »

Sep 10, 16

Eagle Ford Frac Pricing

Frac pricing Eagle Ford:  2014 per stage:  $150,000.  2016 per stage:  $ 45,000.  This includes all pump charges, proppant and chemicals.  Some prices in the summer of 2016 are $35,000 per ... read more »

Sep 04, 16

Artificial Lift

Artificial lift has been a very popular topic of in-bound inquiries at Spears.  Long laterals and complex flow regimes drive E&P companies to install as many as three different types of lift system over the ... read more »

Aug 02, 16

The Boom of 2017

Click here to read a recently published article written by Richard Spears for Well Servicing Magazine where he discusses the current state and near future of our industry. read more »

Jul 13, 16

Lateral Lengths

Lateral lengths in 2016 are far longer than laterals in 2014.  The most active operators in the US now drill laterals that range from 5,000 feet to 10,000 feet, with 8,000 feet being quite common.  Since ... read more »

Jul 07, 16


Proppant used in the wells of the most active E&P companies in the US today ranges from about 7 million pounds per well to about 15 million.  10 million pounds of proppant per well is a very common amount for ... read more »

Jul 05, 16

Cementing Analysis

Spears’ research team evaluated the cement-buying behaviors of 72 of the most active E&P companies drilling wells in the US during the first half of 2016.  21% used Halliburton mostly for cementing work; ... read more »

Jul 01, 16

Frac Analysis

Spears’ research team evaluated the frac-buying behaviors of 72 of the most active E&P companies drilling wells in the US during the first half of 2016.  38% used Halliburton mostly for frac work; 19% ... read more »

Feb 20, 16

North American Frac HHP

Spears has made several site visits to a very large, 1.4M HHP frac company to try to determine the available and stacked horsepower of this one company.  We have observed in one Oklahoma facility, for example, 15 ... read more »

Feb 10, 16

US Hydraulic Fracturing Falls

The US frac market has fallen from its quarterly high of almost $9B at the end of 2014 to a low of $3B in Q4 2015 – a drop of 65%.  The annual market fell from almost $30B in 2014 to ~$16B in 2015.  ... read more »

Feb 04, 16

Permian Basin Fracturing market

The Permian Basin frac market has fallen from its quarterly high of $2.1B at the end of 2014 to a low of $0.8B in Q4 2015 – a drop of over 60%.  The annual market fell from $7.2B in 2014 to $4.2B in 2015. ... read more »

Jan 16, 16

Frac Market in the Northeast

The Utica and Marcellus frac market has fallen from its quarterly high of over $0.9B at the end of 2014 to a low of $0.4B in Q4 2015 – a drop of 65%.  The annual market fell from $3.2B in 2014 to $2.1B in ... read more »

Aug 30, 15

US Shale Decline Rates

Based on three-year annual production decline rates of  70%, 40% and 20%, Core Labs believes that domestic oil output will fall by 500,000 b/d by year-end 2015 and by another 500,000 b/d in 2016, unless there is a ... read more »

Aug 27, 15

Weatherford Artificial Lift Correction

Spears & Associates’ special report, “Artificial Lift Market”, published Q1 2015, states, on slide 39 of this 81 page report, that our research indicated that Weatherford was slowly abandoning the ... read more »

Aug 15, 15

2015 Oilfield Market Report

On October 1, 2015, Spears & Associates will release its newest edition of the Oilfield Market Report.  This report introduces the new author of the OMR, David Otte, a veteran of the oilfield service & ... read more »

Aug 14, 15

Frac sand discounting

Spears’ Q3 2015 analysis of proppant pricing indicates that frac sand prices have fallen along with the decline in frac service demand.  Average frac sand prices at the mine in Q4 2014 were a steady $89-90 ... read more »

May 19, 15

HAL willing to sell Sperry Directional

Halliburton has announced its willingness to sell Sperry’s directional/MWD business, Sperry’s LWD business and Security DBS separately.  Schlumberger is number 1 in all 3 categories and has changed the ... read more »

Apr 15, 15

John Spears on US Oil Production

Since 2013 the EIA has produced the “Drilling Productivity Report” (DPR), a short term forecast of US oil and gas production in each of six key regions.  A critical but overlooked assumption underlying ... read more »

Apr 14, 15

Richard Spears on current frac market

Since the start of Q4 2014, at least 7 frac service companies have ceased operation in the US.  These closures have pulled at about 1.4 million frac horsepower out of the fleet of 22 million.  We believe that ... read more »

Feb 24, 15

Richard Spears on Lateral Lengths

10,000’ horizontal laterals are common in the Bakken, but rare everywhere else.  However, research points to 10,000’ laterals being drilling more and more frequently throughout the US.  In fact, ... read more »

Feb 20, 15

Richard Spears on the Global Frac Market

In 2009 the global hydraulic fracturing market fell by 31%.  For 2015 Spears is projecting a decline of 28% based on the pace of the decline in drilling and the sharp drop in completion work during Q1 2015. read more »

Feb 09, 15

Richard Spears on Frac Revenues

Two very active frac service companies had combined frac revenues of $700M in Q4 2014.  Revenues came from most basins in the US.  Given Spears’ forecast of drilling/completion activity through 2015 and ... read more »

Feb 01, 15

Richard Spears on Contract Compression

Contract compression has been growing 8% per year since 2012.  Spears is projecting 9% growth in 2015 due to continuing increases in demand for natural gas, combined with a paucity of additional drilling in the ... read more »

Sep 24, 14

Richard Spears on Cementing in the Eagle Ford

CEMENTING IN THE EAGLE FORD The $1.1B South Texas/Eagle Ford cementing market is led by Halliburton, with 39% of the cement pumped in 2014.  Spears and its partner, Oilfield Logix, found 30 cementing service ... read more »

Aug 18, 14

Richard Spears on Directional Drilling Services

DIRECTIONAL DRILLING SERVICES One of the strongest growing markets in the oilfield is directional drilling, which includes rotary steerable, the high end of the sector.  This $16B global market has over 100 ... read more »

Aug 04, 14

Richard Spears on Oilfield Equipment and Service Market

REGIONAL OILFIELD EQUIPMENT & SERVICE MARKETS The 2014 global oilfield equipment and service market will rise to about $425B.  The North American region represents $200B of this $425B.  Latin America is ... read more »

Jul 25, 14

John Spears/NGL Price Outlook

NGL Price Outlook   NGL prices are a key driver of drilling activity in plays such as the geographically diverse as the Eagle Ford, SCOOP, and Marcellus/Utica shale. As shown by the following table, NGL ... read more »