The Drilldown: in-depth answers to oilfield questions | w/ Richard & John Spears

By Spears and Associates

What's The Drilldown: in-depth answers to oilfield questions | w/ Richard & John Spears about?

Richard & John Spears answer your questions & discuss the oilfield services business. The Spears brothers have a combined 75+ years as leading industry experts and are prized speakers for events all across the globe.

The Drilldown will visit all topics in the oilfield services & equipment and discuss industry current events.

New episode every Monday!

Got a question? Send it to [email protected]

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The Drilldown: in-depth answers to oilfield questions | w/ Richard & John Spears episodes:

11.08.2022
Ep221 - Does Idling Your Engine Save Fuel?
This week we're doing an oddball episode -- does idling your engine waste fuel? Yes, we're actually gonna talk about this this week! Produced by Charlie Spears
10.25.2022
Ep220: What's driving OPECs production numbers?
This week we discuss how OPEC determines their production quota and how the war in Russia their decision making. Produced by Charlie Spears
10.12.2022
Ep219: How do we evaluate the Oilfield Services market?
This week we dive into our methodologies for tracking oilfield services domestically & internationally.
10.04.2022
Ep218: Are oil companies drilling themselves out of business?
Exploration has slowed, so are oil companies on a ticking clock? Produced by Charlie Spears
09.19.2022
Ep217: Is M&A back in Oilfield Services?
Is M&A activity back in the oilfield service sector? It looks like the industry is heating up again, we dive into what the landscape currently is and where it is going. Produced by Charlie Spears
09.12.2022
Ep216: Oil prices are no longer driving activity
Oil prices are no longer the primary driver of oilfield activity. Richard and John talk about the recent divergence in oilfield service profits, activity, and oil price.
09.05.2022
Ep215: We're BACK (and the oilfield has changed a lot)
We're back from a deep hibernation and boy have things changed! This episode we talk how to value oilfield service companies in the current market environment, how commodity pricing doesn't drive the industry as much as it used to, and...
11.16.2021
EP214: Point-Counterpoint: Part 2
Richard and John review the challenge to US oilfield service firms in accommodating a significant increase in oilco activity in 2022. Topics addressed include market segmentation by operator size, contract duration requirements, risks from new technologies, and the potential for...
10.29.2021
Ep213: Point-Counterpoint, Pt 1
Richard and John preview the upcoming discussions between oil company managements planning to significantly increase capital spending in 2022 and possible pushback from investors. Topics addressedinclude long-term versus short-term demand expectations, "resilient" reserves and "bifurcated"investment groups.
10.14.2021
Ep212: The Long Run
Richard and John review the findings the EIA’s newly-released outlook for the global energy market to 2050 and discuss its implications for the oilfield equipment and service industry.
09.27.2021
Ep211: Global Oilfield Spending – Pt. 2
Richard and John identify next year’s market segment winners and losers and discuss the factors driving differences in the rate of revenue growth in 2022.
09.13.2021
Ep210: Global Oilfield Spending Pt 1
Richard and John identify 2021’s market segment winners and losers and discuss the factors driving the differences in revenue growth this year.
08.27.2021
Ep209: Forecasting Bias
Richard & John go over common biases when forecasting....anything.....but especially the oilpatch.
08.22.2021
Ep208: Frac Pricing
Richard and John discuss the 2022 outlook for US frac activity, including rig activity, DUC drawdown rate and frac pricing.
08.13.2021
Ep207: Decisions, Decisions
Richard and John discuss how they expect US operators will decide to allocate next year’s free cash flow.
08.05.2021
Ep206: Looking forward to 2022
We're back after a summer hiatus. This week we recap what's gone on this summer, quarterly financials, and how operator price assumptions affect their decision making in 2022.
05.21.2021
Ep205: A Tale of Two Narratives
Rising oil prices & less anticipated demand -- how do we interpret conflicting projections for oil demand?
05.08.2021
Ep204: Net-Zero CO2 Emissions and Wet Frac Sand: Bonus Round!
In the third of a two-part series Richard and John discuss how challenges in implementing net-zero emission (NZE) plans could revise the (bearish) long-term outlook for oil and gas demand. What are some of the key issues that could impact...
04.27.2021
Ep203: Net-Zero CO2 Emissions and Wet Frac Sand (part 2)
In the second of a two-part series Richard and John discuss how current drilling and completion operations are being impacted by long-term climate change expectations and what the implications could be for US oil and gas production.
04.20.2021
Ep202: What "net zero" and wet frac sand have in common (part 1)
How climate change & net zero are causing wet frac sand to show up on location.
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04.14.2021
Ep201: Costs, Capex, Elasticity and Prices
Richard and John discuss the factors driving the Q1 increase in US drilling and completion costs, the capital spending outlook for US operators, oil demand elasticity and the outlook for oil prices.
04.07.2021
Ep200: Renewables, COVID, and the American oil recovery
A big picture look at what comes next.
03.24.2021
Ep199: What We Expect In Q2 2021
Richard and John discuss four oilpatch events/trends they expect to emerge in Q2 2021: shortages, restructuring, bifurcation, and SPACs.
03.17.2021
Ep198: What We’re Hearing From the Field
The ongoing recovery in US drilling activity has caused some spot shortages for materials to emerge. At the same time, the number of new job openings for oil service workers has more than doubled since Q4 of last year. Richard...
03.11.2021
Ep197: An Oilpatch Vaccine?
Richard and John discuss whether net-zero initiatives will be sufficient to keep ESG-sensitive funds invested in oil companies. Plus a Gilbert and Sullivan reference!
03.02.2021
Ep196: Rules of Thumb
Richard and John review information regarding recent trends in oil service activity and pricing found in the Spears industry dataset.
02.24.2021
Ep195: Last Week’s Most Important Price News
Lost in last week’s headlines about sub-zero temperatures, rolling blackouts and soaring energy costs was news about what has become the most important price for the US petroleum industry. Richard and John discuss SCC and its impact on the oil...
02.16.2021
Ep194: Oil Service Firm Finances
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?
02.10.2021
Ep193: Is It Worthwhile to Plug Abandoned Wells?
Are there 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. We also talk enteric fermentation, or methane emissions...
02.02.2021
Ep192- Voice of the Customer: Frac Efficiency
Richard and John use voice of the customer responses to reveal challenges in determining trends in frac efficiency.  the McNamara Fallacy  will prioritizing efficiency over effectiveness continue?
01.26.2021
Ep191: 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.
01.19.2021
Ep190: 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!
01.13.2021
Ep189: 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. Charlie Spears
01.05.2021
Ep188: 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.
12.16.2020
Ep187 - 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.
12.09.2020
Ep186: Happiness is Free Cash Flow
This week we're broadcasting from our video chat with the Gulf Coast SPE luncheon. We kick off by discussing whether US operators can hold output steady, de-leverage AND grow shareholder returns at the same time. Recorded live from Richard...
12.02.2020
Ep185 - Questions We're Being Asked
Richard and John respond to a couple of questions about drilling activity in the US and the Middle East.
11.17.2020
Ep184: Recipe for Success
Just in time for Thanksgiving, Richard and John identify where “high calorie” wells are drilled and what the outlook is for those markets.
11.10.2020
Ep183: Where the Oilpatch Is Headed Outside North America
Richard and John discuss what recent declines in drilling activity outside North America appear to say about NOC intentions regarding future oil production capacity.
11.03.2020
Ep182: US Production Outlook
Richard and John present three scenarios for frac activity and US oil production for the coming year and discuss the implication for oil prices. Other topics addressed include: How a sharp DUC drawdown just delays a collapse in US...
10.28.2020
Ep181: Migrating DUCs
Richard and John discuss what HAL’s Q3 results mean for US frac activity. Also - What Bobcat Goldthwait, the wives of Henry VIII, and invading Russia have in common
10.20.2020
Ep180: Straws in the Wind
What recent oil company mergers say about the outlook for E&P activity, supply chain consolidation and market share growth. Produced by Charlie Spears
10.13.2020
Ep179: Thinking About Free Cash Flow
Richard and John discuss elements impacting free cash flow for US operators and how this will determine E&P capex and rig activity going forward. Specific topics addressed include: “Haircut” given to spot oil prices when setting capex budgets Royalties,...
10.07.2020
Ep178: What's Caught Out Attention This Week
Richard and John discuss topics which caught their attention this week, including: Caterpillar’s acquisition of Weir; Saudi breakeven pricing; Q3 OFS earnings expectations; and progress on nuclear fusion.
10.06.2020
Ep178: What's Caught Out Attention This Week
Richard and John discuss topics which caught their attention this week, including: Caterpillar’s acquisition of Weir; Saudi breakeven pricing; Q3 OFS earnings expectations; and progress on nuclear fusion.
09.28.2020
Ep177: Has America Gone Back To Work?
Anecdotal evidence from Richard’s current road trip suggests US economic activity is largely returning to normal and explains why the EIA has revised its estimates of Q4 US oil use significantly higher in recent months. Richard and John discuss how...
09.21.2020
Ep176: Going, going......
Schlumberger has begun to reduce its exposure to the North American oilpatch. Richard and John discuss how this process will likely result in consolidation of important segments of the NAM market. We also chat about -- Does the...
09.14.2020
Ep175: State of the Market - Renewables
Major oil companies are increasing their investment in renewable resources as they transform into btu- agnostic energy suppliers. Richard and John describe the US renewables market and discuss the outlook for this sector.
09.08.2020
Ep174: Frac Market Outlook
The recently-announced combination of Liberty and Schlumberger is shaking up the NAM frac market. Richard and John discuss the outlook for activity and pricing over the coming year.
08.31.2020
Ep173: How It’s Made – The Oilfield Market Report
Richard and John discuss the process used to create and update the market size and share estimates found in the Oilfield Market Report.

What's The Drilldown: in-depth answers to oilfield questions | w/ Richard & John Spears about?

Download our free app to listen on your phone

The Drilldown: in-depth answers to oilfield questions | w/ Richard & John Spears episodes:

Ep221 - Does Idling Your Engine Save Fuel?

Ep220: What's driving OPECs production numbers?

Ep219: How do we evaluate the Oilfield Services market?

Ep218: Are oil companies drilling themselves out of business?

Ep217: Is M&A back in Oilfield Services?

Ep216: Oil prices are no longer driving activity

Ep215: We're BACK (and the oilfield has changed a lot)

EP214: Point-Counterpoint: Part 2

Ep213: Point-Counterpoint, Pt 1

Ep212: The Long Run

Ep211: Global Oilfield Spending – Pt. 2

Ep210: Global Oilfield Spending Pt 1

Ep209: Forecasting Bias

Ep208: Frac Pricing

Ep207: Decisions, Decisions

Ep206: Looking forward to 2022

Ep205: A Tale of Two Narratives

Ep204: Net-Zero CO2 Emissions and Wet Frac Sand: Bonus Round!

Ep203: Net-Zero CO2 Emissions and Wet Frac Sand (part 2)

Ep202: What "net zero" and wet frac sand have in common (part 1)

Ep201: Costs, Capex, Elasticity and Prices

Ep200: Renewables, COVID, and the American oil recovery

Ep199: What We Expect In Q2 2021

Ep198: What We’re Hearing From the Field

Ep197: An Oilpatch Vaccine?

Ep196: Rules of Thumb

Ep195: Last Week’s Most Important Price News

Ep194: Oil Service Firm Finances

Ep193: Is It Worthwhile to Plug Abandoned Wells?

Ep192- Voice of the Customer: Frac Efficiency

Ep191: Oil Company Finances

Ep190: Expectations vs Reality

Ep189: 10 (More) Questions Being Asked!

Ep188: Expectations for 2021

Ep187 - The Year That Was

Ep186: Happiness is Free Cash Flow

Ep185 - Questions We're Being Asked

Ep184: Recipe for Success

Ep183: Where the Oilpatch Is Headed Outside North America

Ep182: US Production Outlook

Ep181: Migrating DUCs

Ep180: Straws in the Wind

Ep179: Thinking About Free Cash Flow

Ep178: What's Caught Out Attention This Week

Ep178: What's Caught Out Attention This Week

Ep177: Has America Gone Back To Work?

Ep176: Going, going......

Ep175: State of the Market - Renewables

Ep174: Frac Market Outlook

Ep173: How It’s Made – The Oilfield Market Report