Session Chairperson: Steven Craig, Baker Hughes
In 2015, E&P companies will spend over $465 billion buying products and services from the oilfield’s equipment & service suppliers around the world. In 1999, low point in the modern era, these same companies spent just $75 billion globally. With the global market for all things oilfield growing by 6x in a decade and a half, how has the well intervention sector done in comparison? Richard Spears will present his firm’s evaluation of the coiled tubing services market, wireline logging, and well servicing, along with a look at some of the technologies that enabled the rapid growth – completion equipment, directional drilling and artificial lift.
Speaker: Richard B. Spears, Managing Director, Spears & Associates, Inc.
With an engineering degree from Oklahoma State University and graduate work in industrial engineering, Richard Spears has worked for 35 years in the upstream oil and gas industry, starting as a field engineer for Halliburton. Today, Richard is one of the managing directors of Spears & Associates, an oilfield market research firm founded in 1965. The firm has over 400 clients worldwide, including all major oil companies, many national oil companies, all major service companies and over one hundred private and institutional investors. Richard has been with the firm since 1985 and leads the firm’s mergers and acquisitions support practice.
Richard is a 30-year member of the Society of Petroleum Engineers (SPE 1141910) and was an SPE Distinguished Lecturer 2005‐2006. He is also a 29 year member of the Association of Energy Service Companies.
Richard is on the board of directors of several oilfield service companies: Federal Flange, a subsea high-pressure connector manufacturer; Allied Horizontal Wireline, a wireline logging company that is commercializing GE’s digital openhole logging technology; Abrado Wellbore Services, a deepwater wellbore cleanout and downhole video company; and W-Technology, a manufacturer of directional drilling components.