文档介绍：ForFor LackLack OfOf AA Nail,Nail, TheThe WarWar WasWas LostLost
OverviewOverview ofof GlobalGlobal OilOil ServiceService AndAnd ContractContract DrillingDrilling IndustryIndustry
20072007 OilOil && MoneyMoney ConferenceConference
London,London, EnglandEngland
OctoberOctober 31,31, 20072007
By:By:
MatthewMatthew . Simmons,Simmons, ChairmanChairman
SimmonsSimmons pany InternationalInternational
IsIs BiggestBiggest RiskRisk OfOf MeetingMeeting OilOil AndAnd GasGas DemandDemand
AA LackLack OfOf Rigs?Rigs?
Data on “rig” and other oil service assets is skimpy.
Data ranking asset quality is non-existent.
Oil service/drilling industry supported by massive
employee base:
– Demographic data is poor
– Data on number of key personnel nearing retirement also
skimpy
World is planning on vast increases in oil and gas
supply.
To make this happen, world needs far more rigs.
SIMMONS PANY
INTERNATIONAL
MostMost OilOil AndAnd GasGas PunditsPundits OverlookOverlook OilOil
ServiceService IndustryIndustry
The oil service prises scores of different services and
products to support oil and gas exploration and production.
Thousands panies provide these varied services.
95% of oil field technology is created by panies.
In order to find and produce oil, a well must be drilled.
The service and equipment sector of the oil and gas industry
is where “rubber meets the road”
SIMMONS PANY
INTERNATIONAL
ThisThis SectorSector SufferedSuffered ThroughThrough AA 25-Year25-Year DepressionDepression
Sector had dramatic growth 5000 1500
from 1970 – 1981: 4500 . Rig Count 1400
International Rig Count
– . rig count rose fold 4000 1300
– International rig count rose 3500 1200
3000 1100
2500 1000
On 12/31/81, . rig count 2000 900
almost 4,600. . Rig Count 1500 800
1000 700
International Rig Count Rig International
By end of decade, 90% of 500 600
companies disappeared. 0 500
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