September Slide Deck (2022E spend UP 30%+)
Our key takeaway is 2022E spending, which has the potential to be…
August Data Download (near-term very weak)
This week, we downloaded the bulk of our June / July data, with the biggest takeaway being relatively flat fully-utilized fleet counts since April.
DUC Update – Big Rebuild Coming
In this post, we have updated our DUC data as of Q3, identified what we believe is ‘normal inventory’ and presented our case for a big DUC rebuild over the next 12-18 months.
ESG Friendly Fleet Count – That Happened Fast
While the active fleet count has stagnated in recent months, the demand for ESG Friendly fleets has continued to surge.
Frac Supply Update – Approaching 17 Million HP
In recent weeks, we have updated our supply estimates, adding in multiple new entrants that are reviving old fleets.
Shale D&C Update ($60-70/bbl = 250 fleets / 550 hz rigs)
In this report, we have integrated recent monthly data (including the February winter freeze), with our longer term drilling & completions model. As part of this update, we have also taken a first look at 2022E in a $70/bbl scenario, which would likely push active frac crews over….
July Data Download (still flat)
This week, we downloaded the bulk of our June / July data, with the biggest takeaway being relatively flat fully-utilized fleet counts since April.
Frac Providers Determined To ADD More Fleets
Despite only modest Q3 growth and potential Q4 slowdown, several frac providers have shown commitment to staffing up more fleets
Monthly Shale Activity Data [lium sheets]
In this post, we have updated our monthly completion data for members with Premium Memberships to download. This file contains most up-to-date fleet counts, completions, spuds, sand, efficiency, and intensity data. Key takeaways from the data refresh can be found written in this update.
NEX / Alamo Acquisition (less than stellar history)
It’s good to see consolidation in the oversupplied and fragmented pressure pumping market, but consolidators have to be careful to avoid value destruction.