Argus OCTG SML Index
Overview
The steel pipe used in the extraction of oil and gas from a well is known as OCTG or oil country tubular goods (OCTG). Argus Pipe Logix provides pricing assessments for three main categories of OCTG- tubing, production casing and surface casing. Argus further assesses OCTG by manufacturing process, Electric Resistance Welded (ERW) and Seamless (SML). SML pipe is made by piercing a steel billet with a mandrel to shape it into a tube.
The Argus Pipe Logix SML index represents the US distributor spot price average for imported and domestically manufactured SML tubing, production casing and surface casing used in US onshore wells. Argus Pipe Logix indices are the most widely used price assessments published by any pricing service for OCTG and are used as a benchmark by the largest participants in the oilfield tubular market for contract settlement.
The Argus Pipe Logix SML index is published on a monthly basis on the last Wednesday of the month and provides an accurate and timely US distributor spot price assessment of SML OCTG used in US onshore wells.
The Argus Pipe Logix SML 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 SML index?
SML pipe is one of the main manufacturing processes of OCTG. The Pipe Logix SML Index is an average of the most popular seamless items used in US onshore wells, consisting of 2 tubing items, 7 production casing items and 6 surface casing items. The index provides an independent price assessment of the seamless OCTG market and highlights its unique pricing trends as compared to OCTG made using other manufacturing methods. Our extensive library of pricing, including 20+ years of SML pipe prices, makes Argus Pipe Logix uniquely positioned to report and analyze the SML OCTG market.
How is this assessment used?
The index offers an independent evaluation of the SML OCTG market and emphasizes its distinctive pricing trends in comparison to the ERW OCTG market. Both the ERW and SML Index, together with the Argus Pipe Logix all items Index are included in the OCTG Service, giving users access to the most widely used benchmarks for OCTG available anywhere.
Key price assessments
