Patrick Schorn Executive Vice President, New Ventures Credit Suisse 23rd Annual Energy Summit Vail, Colorado, February 13, 2018
Oil Market Rebalancing Has Accelerated World Liquids Demand, MMbpd US Crude Oil and Product Stocks, Bnbbl Floating Storage, MMbbl 1.8% 1.9% 98.1 100.0 96.4 2.1 80 North America 2016 2.0 2015 60 Europe 1.9 2017 40 Asia…
NAM Leads Spending Growth, International Turns Positive billion 500 +9% 400 +7% +5% -2% Upstream 300 INTL Capex 200 +33% +15-20% 100 NAM 0 2016 2017 2018 Source: IHS Markit
Global Project Start-Ups US Land 700 wells Delaware basin Saudi Arabia 274 well turnkey project US GoM Mad Dog II, starting with 5-8 wells Kuwait and Iraq IDS projects Canada 6 rig SPM project Sub-Saharan Africa integrated services
OneStim Expansion
Connecting E&P Workflows with Digital Enablement Digital Technologies Domain Industry Goals Cognitive E&P Environment
DrillPlan Digital Well Construction DrillPlan workflow integrates subsurface data with BHA design Integrated Well Planning Drilling Technology Selection USL trials demonstrate well plan development time savings Monitoring…
Capital Discipline to Improve Returns Capital Allocation CAPEX flat with 2017 despite growth Multiclient seismic monetization SPM focus on project execution M&A activity reducedEDC in play SPM CanadaPalliser Block Capital…
First-Quarter Expectations Q1 2018 is a transitory quarter As stated in the Q4 2017 earnings call, activity will be seasonally lower in Russia and the North Sea, and further impacted by exceptional costs from the reactivation and…
Summary Oil market now balanced by continued strong demand growth with supply-side production cuts by OPEC and Russia adding to weakening global production bases Positive sentiments reflected in 2018 E&P spend forecasts of 15-20%…
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