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.
Lowering 2022E Frac Fleet Projections…
A year ago in this note, we talked about the potential for U.S. shale to maintain flat production at only 200 fleets.
First Set Of E&Ps Confirm Expectations (publics ain’t moving!)
While only a few E&Ps have reported so far, all have maintained 2021E budgets despite a 20% increase in the oil price since April…
PTEN Gaining Share
While activity from OFS companies so far (HAL, LBRT, BOOM, RES) has been lower than expected, we think PTEN will give a better look…
DUG Permian Conference Takeaways
Takeaways from the DUG Permian conference in Fort Worth this week.
Monthly Data Download – Flat Since April
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.