Macro/Headlines/Events Baker Hughes Rig Count- The U.S. onshore rig count was down 1 rig w/w to 731. WSJ- Clean and Cheap Oil Is a Heavy Lift- Link FT- The rare earths race entails difficult choices- Link WSJ- Biden Declares U.S. Arctic Ocean…
Macro/Headlines/Events Baker Hughes Rig Count- The US onshore rig count was down 7 rigs from 741 to 734 last Friday. At our Thrive Energy Conference last week, most panelist took the under on the US onshore rig count being 800 by the end…
Macro/Headlines/Events BKR U.S. Land Rig Count. Down one rig w/w to 759 rigs. This marks the third weekly decline, albeit the declines thus far are minor. That said, the E&P commentary noted above, again from a small sample, is consistent with leading edge…
DEP Update: Dividing and conquering again this week as half the team heads to Midland while the other half is conducting E&P meetings in Houston. Our Midland reception is on Wednesday, so email us if you would like to swing by. Lastly, we are…
This past week we completed another Permian trip as we travelled west to attend a ChampionX open house featuring its recently acquired Scientific Aviation business (more below) while we also summarize a Marcellus frac site tour from two weeks ago. We return to the…
Happy Mother’s Day to all our mom readers….you are the best! DEP Travels. We drive to Midland tomorrow morning for two days of meetings. Likely will assemble a small group dinner Tuesday night in Midland, so if you’re up for Mexican or Italian,…
Very busy week last week as we were consumed by the inaugural THRIVE Energy Conference, thus a somewhat low calorie note this weekend. Given our lack of free time last week, we haven’t fully digested all of the Q4 earnings calls in recent days,…
Now that we are essentially through Q3 earnings season, this weekend we reviewed E&P commentary regarding near-term capital spending and activity trends. Where possible, we highlight Q4 and preliminary 2021 guidance as well as convey go-forward activity assumptions as provided. As expected, E&P capital…
We have updated our active frac crew count worksheet as well as compiled a list of frac crew anecdotes from Q2 earnings season. Our active tally now stands at ~111 fleets. This tally is derived from public disclosures, industry sources, company specific discussions and…