Recorded on June 1st, 2022
Episode 49 of the PetroNerds podcast is a PetroNerdy service company focused podcast with Adam Anderson, the CEO of Innovex. Trisha Curtis and Adam talk shop on oilfield services and the state of the oil market. Innovex is known to many in and outside the oil and gas industry for being the company which North Face rejected a jacket order on the basis that Innovex was involved in the oil business.
(The Colorado Oil and Gas Association gave North Face an award in response, mocking them for their hypocrisy and direct support of oil and gas given most of their products are made from petroleum. Chris Wright, CEO of Liberty Energy (formerly Liberty Oilfield Services) has led a campaign in Denver Colorado, purchasing billboards, thanking North Face for their oil and gas use.)
Trisha and Adam talk about oilfield services in a $100 barrel market, inflation, ESG and investor pressure, the underinvestment thesis, and what is happening in the market with OPEC and Russia.
Adam asks Trisha questions and they disagree a bit and debate about what is happening in the oil market. It is a great conversation and worth a listen! On June 1st, 2022 oil prices were $115.27 WTI, $116.35 Brent. Henry Hub $8.70 and Dutch TTF $/MMBTU $27. The 30 year mortgage rate was 5.57 percent.