Tenaris, Vallourec say drillers’ cost-saving moves affect mix

May 03, 2013 | 11:56 AM | Thorsten Schier

Tags  Tenaris, Vallourec, Paolo Rocca, Phillipe Crouzet, Olivier Mallet, drilling, drill rigs, oil country tubular goods OCTG

NEW YORK — A growing cost-savings drive by companies in the domestic drilling sector has had an impact on product mix, according to two large tube and pipe makers.

"Clearly, there is a push from the oil companies operating in the shale space to reduce their costs as much as they can, and we see some shift from full-premium connections to semi-premium connections," Paolo Rocca, chairman and chief executive officer of Tenaris SA, said during the Luxembourg-based company’s first-quarter earnings conference call.....

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