Investor Presentaiton
TMK
... Coupled with More Wells Drilled per Rig and Longer
Laterals ...
The recovery in spending and rig count since 2016
is more significant when accounting for efficiency
and productivity gains achieved by producers over
the same period
Drilling times have fallen sharply in most regions
resulting in fewer rigs needed to perform the same
work
Horizontal wells drilled per rig
20
15
17,0
14,8
15,2
15,8
11,2
9,7
10
8,0
7,9
6,8
5
As producers continue to innovate, well lengths
increased, frac stages rose and proppant usage
increased
0
2010 2011 2012 2013 2014
Source: Baker Hughes Rig Count, Spears & Associates
Increased lateral lengths and greater drilling
complexity are driving greater spending on
technologically advanced drilling consumables, such
as OCTG with premium and semi-premium
connections
24
Average U.S. lateral length
(Feet)
10 000
2015
2016
2017 2018E
8 706
8 194
7 826
7 323
7 500
6 880
5 000
2 500
0
2014
Source: Spears & Associates, Inc.
2015
2016
2017
2018EView entire presentation