When David Otte and I became friends we had just learned how to ride bikes. He was the thoughtful one, I was the erratic one. He grew up to raise a Marine and I grew up to raise a Nashville touring musician. He built a couple successful companies and I'm still trying to figure out this thing called amortization.
After his very early retirement, he joined my brother and me a decade ago to bring rationality and QAQC to our flagship report, the Oilfield Market Report. My work was getting sloppier each year and I needed to be replaced. His mandate: Determine the quarterly product line revenues of every oilfield service company on the planet and forecast them accurately.
Otte gets better every year, aging like a fine Cabernet. With today's earnings release from Halliburton (and like last week's SLB release) we see his accuracy is around 99.2%. And HAL releases 2 numbers - drilling & completion - while Otte releases 96 product line estimates/forecasts throughout the year. The table below is his full work for 2023 for Halliburton.
Clients of Spears & Associates have had these numbers for a very long time already. David has them forecasted by quarter for several years into the future. If you are not already, you should consider becoming a client of our firm: https://lnkd.in/eUditvuk
President at Segur Cleaning
1moThis is a great project. The units look really good.