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    Blake McLean

    Research Analyst at Daniel Energy Partners

    Blake McLean is Managing Director at Daniel Energy Partners, specializing in energy market intelligence with a deep focus on the U.S. oil service industry. Having covered both public and private companies in the E&P, oilfield services, and capital equipment sectors, he brings over two decades of experience and is recognized for extensive industry relationships and actionable insights. Blake joined Daniel Energy Partners in September 2023 after serving as Chief Financial Officer at Wyre, and previously held leadership roles at Ambyint, EQT Corporation, and Simmons & Company International since 2000. He holds a BBA from The University of Texas at Austin and an MBA from Stanford University Graduate School of Business.

    Blake McLean's questions to Helmerich & Payne (HP) leadership

    Blake McLean's questions to Helmerich & Payne (HP) leadership • Q3 2025

    Question

    Blake McLean from Daniel Energy Partners asked a broader question about the current mindset of customers regarding the crude oil outlook for the remainder of the year and into 2026.

    Answer

    SVP Trey Adams noted that sentiment varies: large customers plan through cycles, while private E&Ps are more sensitive to near-term prices. CFO J. Kevin Vann added that the current, more stable crude price environment is more constructive for 2026 budget planning than it was three months ago. CEO John Lindsay also pointed to uncertainty around future U.S. production levels as a key variable.

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    Blake McLean's questions to DNOW (DNOW) leadership

    Blake McLean's questions to DNOW (DNOW) leadership • Q2 2025

    Question

    Blake McLean of Daniel Energy Partners questioned how the end-market portfolio mix of the combined DNOW and MRC Global company might evolve over the next few years and asked about the anticipated impact from tariffs in the second half of the year.

    Answer

    VP of Digital Strategy & IR Brad Wise detailed the pro-forma end-market mix (41% upstream, 21% midstream, 21% gas utilities) and pointed to growth in AI, LNG, and utility modernization as key future drivers. CEO David Cherechinsky addressed tariffs, noting that while product costs have risen, sales growth is primarily volume-driven, not price-driven. He emphasized DNOW's ability to grow and generate strong free cash flow despite market headwinds, citing record Q2 EBITDA as proof of the strategy's success.

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    Blake McLean's questions to Solaris Energy Infrastructure (SEI) leadership

    Blake McLean's questions to Solaris Energy Infrastructure (SEI) leadership • Q2 2025

    Question

    Blake McLean asked for more color on the company's 'balance of plant' strategy, including collaborations and the benefits of developing these capabilities in-house amid tight supply chains.

    Answer

    Chairman & CEO William Zartler compared it to their wellsite strategy of controlling more of the service offering, stating they are evaluating a 'build vs. buy' approach for critical components like transformers and switchgear. CFO & President Kyle Ramachandran added that this strategy expands their addressable market, enabling them to support generation beyond their own assets, including grid-interconnected power.

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    Blake McLean's questions to MRC GLOBAL (MRC) leadership

    Blake McLean's questions to MRC GLOBAL (MRC) leadership • Q1 2025

    Question

    Blake McLean of Daniel Energy Partners asked for an overview of the growth runway for the international PTI business, including key regions and opportunities. He also requested more detail on the company's emerging opportunity in the data center market.

    Answer

    CEO Rob Saltiel stated that international PTI is projected to grow in 2025, driven by a solid backlog of projects secured last year, particularly in the North Sea and Europe for platform life extensions and new hydrocarbon development. Regarding data centers, Saltiel described it as an exciting, early-stage initiative focused on providing pipes, valves, and fittings for cooling systems. He noted that MRC Global has already secured over $10 million in commitments and is pursuing tens of millions more, with the potential for it to become a $50 million to $100 million business.

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    Blake McLean's questions to Select Water Solutions (WTTR) leadership

    Blake McLean's questions to Select Water Solutions (WTTR) leadership • Q1 2025

    Question

    Blake McLean from Daniel Energy Partners questioned the activity outlook for dry gas basins like the Haynesville and Marcellus for the rest of 2025 and into 2026. He also asked about the current M&A environment and how it's prioritized against organic growth opportunities.

    Answer

    EVP & COO Michael Skarke stated that activity in the Haynesville and Marcellus has picked up and the outlook is more favorable than in oil plays, with LNG offtake growth being a key driver for the Haynesville. Founder, Chairman, President & CEO John Schmitz and Michael Skarke explained that while they see opportunities for strategic asset acquisitions, the primary capital allocation priority remains the strong backlog of organic growth projects.

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    Blake McLean's questions to EXPRO GROUP HOLDINGS (XPRO) leadership

    Blake McLean's questions to EXPRO GROUP HOLDINGS (XPRO) leadership • Q1 2025

    Question

    Blake McLean from Daniel Energy Partners asked if safety-focused automation products like CENTRI-FI are less susceptible to market volatility and inquired about the growth runway for such technologies. He also asked for color on the M&A market and whether current volatility is impacting deal-making.

    Answer

    CEO Michael Jardon explained that technologies like CENTRI-FI are more resilient because they improve both safety, by reducing personnel time in the 'red zone,' and operational efficiency. He noted a deliberate rollout to ensure value is shared with customers. On M&A, Jardon stated that Expro continues to pursue strategic, accretive deals, though they can be multi-year endeavors. CFO Quinn Fanning added that the company's strong balance sheet provides the flexibility to pursue both bolt-on M&A and share repurchases concurrently.

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    Blake McLean's questions to OIL STATES INTERNATIONAL (OIS) leadership

    Blake McLean's questions to OIL STATES INTERNATIONAL (OIS) leadership • Q4 2024

    Question

    Blake McLean requested more specific color on the various international and offshore markets, asking how they differ in terms of activity outlook and the adoption of Oil States' technology. He also asked for the company's view on the trajectory of U.S. land activity throughout the remainder of the year, based on customer conversations and market indicators.

    Answer

    President and CEO Cindy Taylor highlighted that key growth drivers are connection technologies for FPSOs in Brazil, Guyana, and Suriname. She mentioned that the new facility in Baton is expected to help gain market share in Southeast Asia. While acknowledging some exposure to transitional energy, she emphasized that growth is focused on traditional products and new technologies like managed pressure drilling systems. For U.S. land, she described the outlook as "flattish" but noted that Oil States is seeing a lift in activity and gaining share with new frac fleets by being selective with its high-end technology, such as Active Seat Gate Valves, in specific regions and with key customers.

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    Blake McLean's questions to Drilling Tools International (DTI) leadership

    Blake McLean's questions to Drilling Tools International (DTI) leadership • Q3 2024

    Question

    Blake McLean of Daniel Energy Partners inquired about the differences between the M&A markets in North America versus internationally, and asked about DTI's future targets or aspirations for its international revenue mix.

    Answer

    Executive R. Prejean contrasted the M&A markets, noting that international opportunities are less transparent and more complex due to multiple countries, while North American deals are focused on achieving scale and cost efficiencies. Regarding the revenue mix, he reiterated that Eastern Hemisphere revenue is expected to grow from 1% in 2023 to 10% in 2024, with significant future growth anticipated, which prompted the new segment reporting structure.

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    Blake McLean's questions to KLX Energy Services Holdings (KLXE) leadership

    Blake McLean's questions to KLX Energy Services Holdings (KLXE) leadership • Q3 2024

    Question

    Blake McLean of Daniel Energy Partners asked for more detail on the observed plateau in D&C efficiency gains, how KLX's conversations with large consolidated E&P companies are progressing, and the company's current approach to M&A opportunities and what constitutes a good deal.

    Answer

    Executive Christopher Baker explained that as efficiency gains plateau, KLX's strategy is to use performance data to secure better pricing from customers. He noted that large, consolidated E&P clients increasingly prefer fewer, high-spec service providers with strong safety records, which gives KLX a competitive edge and has led to new wins. Regarding M&A, Baker stated that KLX is focused on deals with strong strategic fit and will not use leverage for all-cash acquisitions, preferring to use KLX equity to align interests with counterparties for long-term value creation.

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    Blake McLean's questions to Archrock (AROC) leadership

    Blake McLean's questions to Archrock (AROC) leadership • Q3 2024

    Question

    Blake McLean of Daniel Energy Partners asked about how Archrock engages with midstream operators on power demand growth opportunities, lessons learned from the TOPS integration, and any changes in operator behavior regarding the gas lift market.

    Answer

    President and CEO D. Childers explained that Archrock is one step removed from power procurement but partners with customers supplying gas to new demand sources like data centers. He reported the TOPS integration is proceeding well with no negative surprises, citing compatible cultures. He also noted no significant change in operator behavior, with gas lift remaining the dominant artificial lift method in the Permian.

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    Blake McLean's questions to Smart Sand (SND) leadership

    Blake McLean's questions to Smart Sand (SND) leadership • Q4 2023

    Question

    Asked for more details on the last-mile business, including plans for building additional units and current utilization rates.

    Answer

    Utilization is high for silo-fleets (100%) and expected to increase significantly for SmartSystems in 2024, from 2-3 fleets to an average of 5-6. The focus is on increasing utilization and driving sand sales with existing assets rather than building many new units, though they may add one fleet and some components like conveyors.

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