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2019 Completion / Frac Market Outlook
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Contrary to the noise we have heard from industry experts about 2019 completions activity, a closer analysis of the data shows another trend developing.
Operators such as Callon, Parsley, Pioneer, QEP, Laredo, SM Energy, Concho, Diamondback, Cimarex and others have released their 2019 operating plans, which are showing a growing trend: Operators are planning to complete -20% fewer wells in 2019 vs. 2018.
Permian Basin
Frac activity is set to decline -20% YoY. Below are some examples of what operators plan to do.
Cimarex is planning on completing 21% less wells in 2019.
Laredo Petroleum is planning on completing 29% less wells in 2019.
Noble Energy is planning on completing 25% less wells in 2019.
QEP Resources is planning on completing 50% less wells in 2019.
Eagle Ford
Frac activity is set to decline -18% YoY. Early signs are pointing to a 16 - 18 % decline, the lower end of the range is dependent on what EOG (the largest company in the basin based on wells completed).
Marathon Oil, is planning on completing -16% less wells in 2019.
Carrizo is planning on completing -22% less wells. in 2019.
DJ Basin
Frac activity is set to decline -34% YoY
SRC Energy, is planning on completing -46% less wells in 2019.
Bonanza Creek is planning on completing -35% less wells in 2019.
Noble Energy is planning on completing -4% less wells in 2019.
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