The Rising Influence of Rising Affluence

[DewDiligence]

Re: CLB’s perforation technology

There's nothing really new about what the CLB guy was describing. I have no idea whether or not they really invented the technology. I've heard enough of those sorts of claims that I give them very little credence.

My impression is that CLB’s innovation relates to the number and configuration of the perforations. Elsewhere on the webcast, Monty Davis (great oil-patch name, IMO), CLB’s head of operations, claims that there’s something consequential about having eight perforations, although he didn’t say why. In any case, CLB is putting up some impressive numbers in this particular business segment, so customers evidently think they their technology is well differentiated.

John Daniel's question about coiled tubing conveyance replacing wireline was a bit idiotic. I'm hoping the guy isn't an industry investment analyst.

A few minutes beyond the webcast segment you heard, there was a dumber question from a female analyst whose name I didn’t catch. She thought CLB was in the business of selling coiled-spring tubing per se as opposed to the technology for how to employ it.

Thanks for your helpful feedback.