We are very excited to have Richard Spears as our guest speaker for February. This will be a "don't miss" meeting. Seating is limited so register early to ensure your place.

ABSTRACT

In late January 2024 the Kingdom of Saudi Arabia announced it would no longer invest to expand oil output capacity to 13 million BOPD from the current 12 million BOPD. Instantly the value of US-focused, oil-related service companies and oil companies surged while SLB valuation collapsed…and yet a few days later everything was back to normal as if nothing had ever been announced. With investors and lenders tiptoeing back into the oil and gas industry, what are the risks and the opportunities that face people trying to navigate the brave new world of the American oil and gas industry and its service providers? Will drilling be up or down? Will frac ebb or flow? Will all oilfields eventually be owned by Exxon? Richard Spears will talk about the firm’s current forecast of activity and why frac is consolidating, but not drilling contractors; why artificial lift and compression companies are trading hands, but not directional drillers.

BIO

Richard Spears is one of the managing directors of Spears & Associates, an oilfield market research company launched in 1965. Richard is a former Halliburton pump truck driver who now sits on the boards of several oilfield service companies, including Varel, Latshaw Drilling, APS Technology, and Pruitt, plus a geothermal startup called IGNIS Energy.