• • Despite continued rig momentum, the fully-utilized frac fleet drifted lower in May to under 200.
  • The surprise drop was driven by 1) slightly lower completions after April surge and 2) efficiency jump – needed fewer fleets to pump the same volume.
  • For Q2, the fully utilized fleet count is tracking up ~15% compared to the previous quarter.
  • Meanwhile, the number of available fleets (active) has continued to drift higher to ~220 as new entrants redeploy old equipment
  • Get more shale stats in our Monthly Shale Activity Data download also recently released

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