Argus OCTG Index and Oil Country Tubular Goods Market Trends
Overview
OCTG, or oil country tubular goods, is the term for the steel pipe used in the extraction of oil and gas from a well. Argus Pipe Logix is the market leader in producing OCTG price assessments for the three main categories of OCTG- tubing, production casing, and surface casing. In addition to reporting OCTG prices by category, Argus further categorizes, assesses and examines OCTG prices produced through the two main manufacturing methods of OCTG pipe- electric resistance welded (ERW) OCTG and seamless (SML) OCTG. In total, Argus Pipe Logix publishes 47 OCTG price assessments on a monthly basis – 32 casing and tubing items used in US onshore wells and 15 associated averages of US distributor OCTG spot prices.
The All Items OCTG Index is an average of the OCTG prices assessed by Argus Pipe Logix. The All Items OCTG Index includes ERW and seamless tubing, production casing and surface casing prices. It is the most widely used OCTG price assessment published by any pricing service for OCTG. The All Items OCTG Index is used as a benchmark by some of the largest participants in the oilfield tubular market for contract settlement. In addition, the OCTG All Items Index is used throughout the industry for performance management, corporate planning and management reporting as it provides an accurate and timely OCTG price trend for oil country tubular goods commonly used in US onshore wells.
The Argus Pipe Logix all items OCTG index is published on a monthly basis on the last Wednesday of the month as part of the Argus Pipe Logix OCTG Price Guide. The Argus Pipe Logix all items OCTG index can be accessed through the Argus Direct online platform and is analysed with current and historical pricing trends as a part of the OCTG Service.
Price assessment details
What are the advantages of the Argus Pipe Logix all items OCTG index?
The Argus Pipe Logix all items OCTG Index is the most widely used benchmark for OCTG prices worldwide. It is the trusted OCTG index of some of the largest participants in the industry as a measure of the overall health of the OCTG market. It is comprised of 32 of the most used OCTG items (surface casing, production casing and tubing) used in US Onshore wells.
OCTG sits at the intersection of two complex markets- supply from the steel markets and demand from oil and gas markets- and our OCTG price indices and analysis will help you navigate the complexities with clarity and confidence. The extensive history Argus Pipe Logix has with both the buyers and sellers in the oilfield tubular market makes us uniquely positioned to report accurate and unbiased OCTG prices and deliver analysis that is unparalleled in the industry.
How is this assessment used?
The largest participants in the oilfield market- OCTG mills, OCTG distributors and oil and gas companies involved in the exploration and production of wells, are the primary users of the Argus Pipe Logix OCTG price assessments. The monthly percent change in the Argus Pipe Logix all items average is applied to long term price contracts using a variety of methods. The Pipe Logix indices are also used for market analysis, production planning, among other functions. In addition, financial companies that make investments in the large OCTG mills use the index to gauge the health and well-being of the oilfield tubular industry.
Key price assessments
