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42nd Annual Howard Weil Energy Conference
Paal Kibsgaard
Although it is still early innings, the technology transformation has already had an impact on the
Drilling Group financial performance.
With a compounded annual growth rate of 11% in revenue, we have clearly outpaced the market over the
past 3 years and in the process, for the first time, captured the number one market share position in Drill
Bits.
And in terms of operating margins, we have managed to improve by over 400 basis points over the same
period in a market where pricing, at best has been flat, bringing our drilling group margins, which
contains most of the Smith product lines as well as IPM more or less in line with the company average.
