Richard and John review the financial performance, capital structure and capex activity of oil service firms accounting for over half the global oilfield equipment and service market. Will their improved financial performance trigger an increase in M&A activity in 2021?
Is It Worthwhile to Plug Abandoned Wells?
Richard and John discuss whether there are millions of unplugged abandoned wells in the US (as some have claimed), and whether it would be worthwhile to plug them to cut down on GHG emissions and provide jobs. Other points addressed include:
Enteric fermentation, or methane emissions per cow-year
Voice of the Customer – Frac Efficiency
Richard and John use voice of the customer responses to reveal challenges in determining trends in frac efficiency. Other issues addressed include:
the McNamara Fallacy
will prioritizing efficiency over effectiveness continue?
Oil Company Finances
Richard and John review the financial performance and capital structure of publicly-traded oil companies accounting for one-third of the US market and discuss the potential for a sharp recovery in their capital spending in 2021.
PLUS, the answer to last week’s puzzler!
Expectations vs Reality
Richard and John discuss the lessons learned from comparing their estimates of market segment growth with Halliburton’s actual Q4 2020 financial results. This episode also features the introduction of the Puzzler Challenge!
Send your answers to the Puzzler to us at drilldownshow@gmail.com
10 (More) Questions Being Asked
Richard and John discuss 10 questions being asked by investors, operators and service firms in a joint presentation made to the Mid-Continent Section of the Society of Petroleum Engineers (SPE) on 1/12/2021.
Expectations for 2021
In their first podcast of the new year, Richard and John highlight some of their expectations for the US oilpatch in 2021 and raise two issues for further consideration.
The Year That Was
In their last podcast of the year, Richard and John step away from the oilpatch and highlight some of the more unusual events and best pivots of 2020.
Happiness is Free Cash Flow
Richard and John discuss whether US operators can hold output steady, de-leverage AND grow shareholder returns at the same time. Other topics addressed include:
How much shareholder returns might have to improve to re-engage investors in the oilpatch
Questions We’re Being Asked
Richard and John respond to a couple of questions about drilling activity in the US and the Middle East.