Spears & Associates Inc.
Spears & Associates Inc. provides business planning, analysis, activity forecasts and market research-based consulting services to the worldwide petroleum equipment and service industry. Clients include petroleum equipment manufacturers, oilfield service firms, financial institutions and research groups. Spears & Associates has served the oil field since 1965. Its services are divided between off-the-shelf unique data-driven products, private and multi-client consulting, and the Spears Insider, a subscription to weekly insight emails. The staff of Spears & Associates provides a wealth of experience in the oilfield from the service perspective and the oil company perspective.
8908 South Yale, Suite 440
Tulsa, OK 74137
Main Phone Number
Flush with profits on the back of high prices, the oil and gas industry still faces potential issues like a hostile political environment, lack of personnel and low levels of exploration activity, Spears & Associates’ Richard Spears told the audience at the SPE’s Artificial Lift Conference.
Oilfield segments with the greatest share of North American revenue will see the biggest hits, with hydraulic fracturing spending down 44% from last year and land contract drilling down 29%.
Analysts said oil prices would have to rise much more to make a lasting impact on U.S. shale producers. They noted that the industry has yet to deliver consistent returns.
Caught in a cutthroat competition, oilfield service companies are pitted against one another for business, E&Ps are taking advantage of an oversupplied market and a recognized-need for consolidation is crawling along.