Oilfield Services to Increase Spending -- Schlumberger

Link here.

I debated whether to link this article; the fact that oilfield services will increase CAPEX doesn't surprise me, it's not news.

This is why I linked the article:

Schlumberger's CEO said that the current industry approach to shale development in North America is sub-optimal, as it involves significant cost and resource waste. Thought the energy industry drills horizontal wells spread evenly over acreage, with the entire horizontal section completed and fractured with massive amounts of water proppant and hydraulic horsepower, shale reservoir quality varies both vertically and laterally. "And the standard logging measurements interpretation techniques and modeling workflows used in sandstones and carbonates cannot be directly applied."

Gould noted that the company is seeing signs that the scientific approach to shale developments is gaining momentum and as the international oil companies continues to build their positions in the shale basins both in the U.S., and overseas this trend will only strengthen. "The scientific approach will also be critical overseas as the industry faces more public pressure to minimize the operational footprint and adapt to less available infrastructure compared to North America," said Gould.

Harold Hamm, CLR/CEO, has said the same thing about the need for more science, less art in drilling for oil. I can't remember if I linked those stories. Trust me.