Surviving Tough Times and Thriving During Good Times The World Waited too Long to Invest in Developing Resources

Oil Prices Don’t Influence Demand as Much as You Think

I believe the service companies are more attractive than producers in the current environment. Whether oil is $40 per barrel or $70 per barrel, I’d argue it’s not going to have that much impact on demand for services. Many of the big oil companies have declining reserves and will be desperate to add reserves. To do that, they’ve got to spend on finding and developing new production or getting more production out of what they already have.