Innovex International, Inc. (INVX) September 2026 Conference Transcript

Let me welcome you to the fifth annual PEP Energy Conference. We're going to talk about natural gas. We're going to talk about power. We're going to talk about Argentina. We've got the perspective of private equity investing in energy. We've got the perspective of folks who were in publics that are now in privates.

This business is and will remain cyclical.

Natural gas right now is seeing a visibility to demand growth that we haven't had for a while. and it's been pretty fun to strategize around that today data centers account for about 1.5% of global electricity consumption in the US it's about 4% we project that this is going to increase at the global level by two times to 2030 and then three times to 2035 and the major driver of this will be AI the message is Argentina's on the map again I'd say it's likely not just possible then Argentina should be in a position to export between 20 to 30 billion dollars of oil and LNG.

Talking about number of rigs versus where we were five years ago doesn't really tell the whole picture. The industry has been through a lot of these cycles. I think we've gotten in front of demand many times and then looking at your investors and saying well what's best for them? What's best for them typically is to moderate activity and let pricing come to you and then you can enjoy the benefits of that.

There is a prize to be won for digging in and power when for the past, I don't know, 20 something years, it's been in the background. It's not in the background anymore. It's at the strategic forefront. So my encouragement would be to jump in as quickly as possible and see what's there.