The Oil “Patch-y” Forecast

ExxonMobil Photo Courtesy Shuli Hallak Photography

Susan Murphy | Publisher

Baseball Hall of Famer and philosopher Yogi Berra said it best: “If you come to a fork in the road, take it!” And thus we forge ahead into the 2nd half of the year despite the occasional speed bumps and obstacle course we fondly call the oil patch.

Interestingly enough, “patchy” seems to be the operative word this quarter. Overall demand continues steady and contract drilling operations have remained relatively resilient. Unfortunately, there are two sides to every coin and economics is a large part of the equation. As we wrap the August Report, oil prices just hit a three-month high while nat gas and its one-time saving grace, natural gas liquids, are struggling to recover. This makes for a precarious OCTG market as mounting short term concerns undermine operator confidence.

So where do we go from here? If we turn to Yogi for his closing thoughts he might remind us, “The future ain’t what it used to be.” In fact, it’s better! Thanks to our industry’s innovation and ingenuity, in just a couple decades we’ve gone from being hopelessly dependent on imported oil and nat gas to the prospect of being a net exporter of the same; proving that U.S. energy independence is no longer a pipe dream.

About The OCTG Situation Report

Susan Murphy is the publisher of The OCTG Situation Report, a leading authority focused on the North American Oil Country Tubular Goods market. Susan has worked alongside the founder of The OCTG Situation Report, Duane Murphy (and yes, there is a family connection!) for the past decade assisting in various aspects of producing the monthly publication and special projects including market research and development. It had long been suspected that Susan carried the 'OCTGene,' a fact that was confirmed when she took the reins in 2012. A native of Michigan and now practicing cowgirl, Susan employs her education from both the University of Michigan and Michigan State University bringing her expertise in the areas of research, marketing, branding and creative and technical writing to The Report. She has also enjoyed a successful business career as a lauded entrepreneur, running her own brand/marketing and advertising/design firms.
This entry was posted in Energy, Inventory, OCTG, Oil & Gas Industry, Oil & Gas Pricing, Oil Country Tublular Goods, Oil Patch, Pipe, Tubular Goods and tagged , , , , , , , , , , , , . Bookmark the permalink.

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