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Global and Regional Markets

Wicklund: US onshore will likely recover more quickly than deepwater

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The US shale industry has been pushed into the role of the world’s swing producer, said James Wicklund, Managing Director of Energy Research at Credit Suisse, in a 6 November presentation at the 2015 IADC Annual General Meeting in San Antonio, Texas. In this video, Mr Wicklund explains what this means for the industry and discusses his expectations for a market recovery in both the onshore and offshore sectors.

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Marc Edwards: Industry must work to reduce deepwater costs, cycle times

The industry needs to focus on reducing the cycle times and costs for deepwater projects, Marc Edwards, President and CEO of Diamond Offshore Drilling, said at the 2015 IADC Annual General Meeting in San Antonio, Texas.

A recovery in global oil prices will come down the road, but the deepwater sector –which was challenged already at $100 oil, never mind $50 oil – must make changes now to prepare for that next upturn. In particular, the industry must work to reduce the cost of deepwater projects and to shorten deepwater cycle times, Marc Edwards, President and CEO of Diamond Offshore Drilling, said.

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Neil Duffin, ExxonMobil: Industry must work together to come out of downturn stronger

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The methods for collaboration in the industry are likely to change as a result of the lower oil price environment, Neil Duffin, President of ExxonMobil Development, said at the 2015 IADC Annual General Meeting in San Antonio, Texas, on 5 November. In this exclusive video with DC, Mr Duffin explains how drilling contractors can help operators make more projects economically viable in the current price environment and how the industry can emerge from the downturn better and stronger.

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Clay Williams: Steeper decline curves and growing demand make this downturn different from the 1980s

Speaking at the 2015 IADC Annual General Meeting in San Antonio, Texas, on 6 November, Clay Williams, Chairman, President and CEO of National Oilwell Varco, pointed to key factors that differentiate the current industry slump from the downturn that it faced in the 1980s.

A common refrain that is starting to echo through the industry in this downturn is that this feels like the deep and protracted industry downturn of the 1980s. “So far, this does look like the 1980s,” Clay Williams, Chairman, President and CEO of National Oilwell Varco, said during an address at the 2015 IADC Annual General Meeting in San Antonio, Texas, on 6 November.

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