In this episode Richard and John share their tried and true 10 “rules of thumb” for tracking and estimating drilling and completion markets.
Knowing that an accurate forecast can be an important part of a good decision, we’re always interested in how to improve models by reducing uncertainty and bias. In this episode, John and Richard discuss sources of common modeling errors, such as recency bias, availability bias, and anchoring.
The Day the Oilfield Changed is a series reviewing technical breakthroughs or commercial developments which have fundamentally altered the nature of the upstream petroleum industry. In this episode we discuss the beginnings of hydraulic fracturing and its relationship to the US strategic helium reserve.
Richard and John start the new year with predictions for 2019 regarding oil price volatility, the December 2020 futures price, the likelihood of a takeover of WFT by its bondholders, whether frac sand consumption per well will continue to increase, and the outlook for the subsea tree market. And, they review the EIA’s forecast of 2019 US crude oil production.
A major question to any intelligence firm is how accurate its market predictions are. In this podcast Richard and John review their year-ago predictions for oil prices, frac sand demand, horizontal lateral length, “big data” M&A, and subsea equipment market size.
Richard and John debate, discuss, and vote on their candidates for the most important word or expression in the oilfield in 2018.
The government of Alberta recently mandated production cuts in an attempt to reduce inventories and lift oil prices. Will this be enough to help Canada’s struggling oil sector?
Richard and John pose ten questions facing operators and oil service firms in 2019 and discuss how their response will create winners and losers and influence drilling, completion and production activity.
What strategies will operators and oil service companies pursue in a low oil price environment? How will operators control costs and where will service firms look for growth? John and Richard discuss these questions and more.
Which has more of an impact on oil demand: price or population? Does the evidence suggest that the recent drop in oil prices will impact oil demand?