The 2018 Oilfield Richard Spears Associates Tulsa 2017

The 2018 Oilfield Richard Spears & Associates Tulsa

2017: End of Car Talk

The Drilldown Podcast

The Drilldown Podcast

The Drilldown Podcast spearsresearch. com

Oil Demand

Snow in Algeria Jan ‘ 18

‘ 18 Assumed Oil Price $60 WTI

Today’s Oil Price $64 WTI

Global Oilfield $500, 000 40% 30% Millions $400, 000 20% 10% $300, 000 0% $200, 000 -10% -20% $100, 000 -30% $0 -40% 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 Oilfield Market Report, Spears & Associates

2018 Market Growth Frac. Trks Frac Rental Cement Well. Svs Wireline CTS Land Drlg DH Tools Chemicals Bits Tblr Svs Directional Mud Packers Testing Mud. Log Solids. Cntr Rig. Eqpt Trees Lift 0% 5% 10% 15% 20% Oilfield Market Report, Spears & Associates 25%

2018 Market Growth Frac. Trks Frac Rental Cement Well. Svs Wireline CTS Land Drlg DH Tools Chemicals Bits Tblr Svs Directional Mud Packers Testing Mud. Log Solids. Cntr Rig. Eqpt Trees Lift 0% 5% 10% 15% 20% Oilfield Market Report, Spears & Associates 25%

US Laterals <6000' 6000 -8000 Extended Reach 2500 2000 1500 1000 500 0 Q 4 17 Q 3 17 Q 2 17 Q 1 17 Q 4 16 Q 3 16 Q 2 16 Q 1 16 Q 4 15 Q 3 15 Q 2 15 Q 1 15 Q 4 14 Q 3 14 Drilling. Info

Drilling. Info

US Land Drilling Millions $25, 000 Eagle Ford Permian Basin Etx/No. La Mid. Con Bakken Rockies Northeast West Coast Gulf Coast $20, 000 $15, 000 $10, 000 $5, 000 $0 2014 2015 2016 2017 Oilfield Logix Series, Spears & Associates 2018

US Directional Millions $4, 500 Eagle Ford Permian Basin Etx/No. La Mid. Con Bakken Rockies $4, 000 Northeast West Coast Gulf Coast $3, 500 $3, 000 $2, 500 $2, 000 $1, 500 $1, 000 $500 $0 2014 2015 2016 2017 Oilfield Logix Series, Spears & Associates 2018

Directional Drilling Land Offshore Total US $2. 9 $0. 2 $3. 1 Canada $0. 4 $0. 1 $0. 5 Intl $1. 0 $3. 0 $4. 0 Total $4. 3 $3. 3 $7. 6 Directional Drilling Report, Spears & Associates

US Frac Millions $35, 000 $30, 000 Eagle Ford Permian Basin Etx/No. La Mid. Con Bakken Rockies Northeast West Coast Gulf Coast $25, 000 $20, 000 $15, 000 $10, 000 $5, 000 $0 2014 2015 2016 2017 Oilfield Logix Series, Spears & Associates 2018

US Frac Mkt vs Sand 30, 000 $9, 000 $8, 000 25, 000 Tons (000) 20, 000 $6, 000 $5, 000 15, 000 $4, 000 10, 000 $3, 000 $2, 000 5, 000 $1, 000 - $0 Q 1 13 Q 1 14 Q 1 15 Q 1 16 Q 1 17 Hydraulic Fracturing Market by Spears & Associates Frac Market (USD Millions) $7, 000

SAND MINES + HORIZONTAL WELLS ~ 70 mi

SAND MINES + HORIZONTAL WELLS ~ 70 mi

Offshore Drillers Millions USD $4, 500 $4, 000 $3, 500 $3, 000 $2, 500 $2, 000 $1, 500 $1, 000 $500 $0 Forecast Q 4 18 Q 3 18 Q 2 18 Q 1 18 Q 4 17 Q 3 17 Product Line Forecast, Spears & Associates Q 2 17 Q 1 17 Q 4 16 Q 3 16 Q 2 16 Q 1 16 Q 4 15 Q 3 15 Q 2 15 Q 1 15 Q 4 14 Q 3 14 Q 2 14 Q 1 14 Q 4 13 Q 3 13 Q 2 13 Q 1 13 Public companies only

Headlines for 2018 Will January 2019 oil price futures stay at $52? In-basin sand…is it too dirty? Can frac catch up with drilling in the Permian? How real is death by bubble point?

Friday Essay spearsresearch. com

The 2018 Oilfield Richard Spears & Associates Tulsa