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Marketmakers Energy Conference Presentation

Last Thursday I presented an outlook for the oilfield service industry at a conference in Houston.  Attached are the slides from the presentation.  I did not have a prepared text.

The presentation focused on how dramatically the oil market changed in the fall of 2008, which coincided with Hurricane Ike hitting the Gulf Coast while an economic and financial hurricane was hitting New York.  Those events changed the face of the financial industry and in turn the global energy business. =>Continue Reading

Rig Count Drop Now In New Territory

Friday's release of the Baker Hughes rig count data for North America indicates that this industry correction is now in uncharted territory.  For the week ending March 6, 2009, BHI puts the number of working drilling rigs in the U.S. at 1,170, down 73 rigs from the prior week.  =>Continue Reading

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