New Data Downloads – Well Site Storage & Operator Budgets [lium sheets]
In this post, we share notes about two new data releases
OFS Data Trends – Wrong, Right, & Ignore [Slide Download]
In these slides, we have highlighted the key data themes in OFS to watch, ignore, and question…
September Data Download (rig efficiency stalled)
This week, we downloaded the bulk of our June / July data, with the biggest takeaway being relatively flat fully-utilized fleet counts since April.
Updating D&C Model For Gas Spike…
We are increasing our rig count estimate…
Private E&P GAS – Deep Dive
Over the last couple weeks, we have focused our attention on Private E&P GAS activity trends…
Rig Efficiency Has Stagnated
As detailed in our private E&P Gas deep dive, we think the U.S. needs to add a lot more rigs from here. Further contributing to rig demand is a reversal of efficiency gains after jumping higher in late 2020 and early 2021.
Gas Production Lags Way Behind Rig Growth Next Year
After updating rig count for higher gas prices, we have also refreshed our production model to account for more frac crews, completions, and downhole intensity.
XTO Sick Activity Trends
While privates are now building some DUCs, XTO (and many other publics) will also need to taper their DUC draws in coming quarters.
Operators Will Soon Need 30-60 More Fleets, FAST
For each of the last five years, E&Ps added 10-20% completion activity sequentially in Q1 – next year could be even better. The key drivers to next years surge will likely be…
Shale Data Trends – 2022E Surprises
In this report we think ahead to 2022, foreshadowing with predictive data some possible surprises that may materialize over the next 12-15 months.