Rystad: Inflation, supply chain among key issues facing US onshore market in near term

Inflation and supply chain challenges have made an impact on a number of industrial sectors over the past couple of years, and the US onshore drilling sector is no different. At the 2023 IADC Drilling Onshore Conference in Houston, Matt Fitzsimmons, Senior VP – Supply Chain Research at Rystad Energy, noted that “supply chain strategies have become more relevant than ever” in the US onshore, and an expected increase in operator costs driven by inflation could have a residual impact on drillers operating in key basins. In this interview with DC from the conference, Mr Fitzsimmons discusses the key themes in what he terms “the race for a reliable supply chain.” He also explains why Rystad expects energy investments to increase in the near-term future, and the impact that energy security concerns in Europe will have on drilling activity.