Energy Industry Intel & Commentary
Demand for North American (NAM) land-drilling services has leveled off for the time being. A warm first half of winter and expectations for shoulder-month reductions in gas demand have given many producers pause regarding their drilling programs. We believe a modest slowdown in activity could prove a blessing in disguise for many drillers, who could …
EnergyPoint Research took particular interest in the recent announcement that John King, President of Weatherford International’s Evaluation, Drilling & Intervention Division, will be leaving the company. King came to Weatherford in 2005 via the company’s purchase of Precision Drilling‘s international drilling and energy services operations. While at Precision, King was instrumental in developing an organization and culture …
Continue reading “Executive’s Departure Could Hamper Weatherford’s Progress”
By some estimates, national oil companies (NOCs) control an estimated 90% of the world’s proven petroleum reserves. One need look no further than Statoil’s recent announcement to purchase Norsk Hydro’s offshore oil and gas assets, Royal Dutch Shell’s sale of interest in the Sakhalin II project to Gazprom, or the creeping nationalization in Latin America …