Houston Section Hosts Offshore Industry Market Outlook 2019

July 31, 2019

Offshore Industry Market Outlook (OIMO) 2019 was hosted by the Marine Technology Society Houston Section and National Ocean Industries Association (NOIA) on March 28. This was the 42nd year for the annual conference, which was rebranded from the Marine Offshore Industry Outlook Conference. There were 100 people in attendance, including some from leading oil and gas service companies and oil and gas publications.

The caliber of presenters was top notch. NOIA did an excellent job getting top-level executives who represented the different segments of the offshore industry.

  • Offshore Services—Benton Knobloch, GOM Ops Manager, Halliburton
  • Offshore Drilling—Michael Acuff, Senior VP Commercia, Pacific Drilling
  • Offshore Construction—Robb Erickson, Senior VP Marine Service, Boskalis
  • Geology & Geophysical—Kristian Johansen, TGS
  • Future Developments for Offshore—Tim Duncan, President & CEO, Talos Energy

OIMO had a legislative review from Randall Luthi, who talked about the impact of America First, an early initiative of the current Trump Administration and how the now controlled Democratic House is currently impacting the plan. There was a financial overview from Barry Donavon, Managing Director of FMI Capital Advisors, who did a great job covering the recent downturn and then focused on the future outlook.

Some key take-aways: The speakers all commented on how the current state of the offshore oil industry is “A Rebound Not A Recovery.” Another key point was that the onshore oil industry is not replacing offshore. Offshore still accounts for 30% of the world’s oil and gas production. Since offshore has many different segments, there was some discussion regarding offshore wind farm installations and environmental initiatives.

2019 Offshore Industry Market Outlook event co-hosted by the MTS
Houston Section in March.