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Frac fleet up 15% sequentially in Q2
- Privates, privates, privates
- Bakken had a great quarter
- Gas activity sluggish (both Northeast and Hville)
- 17 private frac providers have now deployed more than 50 fleets with more on the way
- Frac fundamentals are still awful with only 220 fleets active (of 330 available)
- At $70/bbl, we think the industry needs ~260 fleets next year
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