Attention Drill Seekers! Houston took center stage in early March for the annual IHS CERAweek, an “unconventional” convention where the energy elite gathered to do some shale bonding and gush over the new energy reality lead by none other than the United States of America. By all accounts, “optimism” was the theme that flowed throughout the convention this year.
Could the CERAweek pep rally portend a possible pipe rally? We all know if operators are drill-happy, pipe producers and sellers are sharing their joy. If we can work through some of the days most pressing energy issues we expect to see some light at the end of the tunnel in the second half of the year. This month in The OCTG Situation Report we update our forecast for U.S. OCTG consumption and what to expect in the way of drilling looking forward.
With all the fanfare surrounding CERAweek, those of us in this industry might be accused of blowing our own horn. It wasn’t, after all, that long ago that the concept of American oil self-sufficiency was a mere pipe dream. We, however, prefer to think of the efforts to bring this new energy boom to America as the ultimate CERAnade.