Making sense of low oil prices

Oil prices remain depressed. Today, West Texas Intermediate was trading at around $51 bbl. The low oil prices have taken a toll on production onshore, especially in shale plays. There’s been a drop in shelf activity in the U.S. Gulf as well, and now even deepwater is seeing some ominous signs.

There has been a lot of speculation over the chances for an oil price revival. Oilman T. Boone Pickens and several analysts see prices returning to around $100 bbl. again soon. At the other end of the spectrum are those who say oil will drop as low as $20 or $30 bbl. before the crude glut is cleared.

In this environment, it’s important to keep up with what effect oil prices are having on the offshore market, in particular what’s in store for OSV and rig operators. This and other topics will be discussed at the upcoming WorkBoat OSV Summit in Houston on April 2.

The agenda for the one-day summit will feature a number of topics relevant to offshore service vessel operators and builders, including a roundtable discussion on OSV design trends that will feature William Lind of VARD Marine and Guido Perla of Guido Perla & Associates.

Two topics at the summit that are sure to get everyone’s attention are “What’s in Store for the Offshore and OSV Markets?” and “Challenges & Opportunities in the OSV Industry.” Both sessions will address what is going on in the Gulf OSV market and how companies are dealing with the challenging operating environment. Also expected to shed some light on what is going on in the Gulf and world energy markets is Dr. Kent Moors, executive chair of the Global Energy Symposium (GES) and internationally recognized expert in oil and gas policy/finance and risk assessment. Moors will deliver the keynote address at the summit.

I’ll be in Houston April 2 to moderate and field your questions on how to best operate in today’s challenging offshore environment. I hope to see you there.

A full summit schedule and registration information is available HERE

About the author

David Krapf

David Krapf has been editor of WorkBoat, the nation’s leading trade magazine for the inland and coastal waterways industry, since 1999. He is responsible for overseeing the editorial direction of the publication. Krapf has been in the publishing industry since 1987, beginning as a reporter and editor with daily and weekly newspapers in the Houston area. He also was the editor of a transportation industry daily in New Orleans before joining WorkBoat as a contributing editor in 1992. He has been covering the transportation industry since 1989, and has a degree in business administration from the State University of New York at Oswego, and also studied journalism at the University of Houston.

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