Patrick Schorn Executive Vice President, Wells 2018 Cowen 8th Annual Energy & Natural Resources Conference New York, December 4, 2018
Oil Price Slide Increases Uncertainty and Decreases Visibility WTI Forward Curve Upstream Capex World Liquids Demand Oil Production (/bbl) (B) (MMbbl/d) (MMbbl/d) -39% 1.3% 1.4% +7% 698 100.6 100.7 97.9 99.2 66 current 94.2 US…
Production Growth Driven by US Land and OPEC Middle East Change in Oil Production vs. January 2014 OECD Crude and Product Stocks vs. 2010-2014 avg. (MMbbl/d) (MMbbl) 500 US L48 Onshore Saudi, UAE, Iraq, Kuwait 2 400 300…
Market Changes Offer Different Opportunities for Growth North America shale oil production Middle East OPEC offers a Rest-of-World production is reacts quickly to investment Strong platform for growth highly dependent on…
Integrated Drilling Track Record First LSTK in Latin America 20 years ago 14,000 wells over 25 years 500 projects managing 1000+ rigs 25 NOC, 6 IOC, and 270 Independents 80% land, 20% offshore Well-defined risk mitigation…
Advantages of the Integrated Drilling Approach IDS captures the value generated by operational efficiency and reliabilitytwo main transformation initiatives The choice of technology used to deliver increased performance lies with…
Fourth-Quarter Sequential Outlook North America revenue from offshore and land drilling trending flat sequentially, however significantly larger drop in hydraulic fracturing activity and pricing, than previously expected…
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