Shale Experts is reporting that, according to our Frac data, operators reported one of the largest reduction in fleets on record. This week 3/27/2020 saw operators idling between 41 and 43 frac spreads across the lower 48.
Get the details by basin by clicking here (requires a subscription)
Our forecast remains unchanged that you could see frac fleets fall to ~130-150 by 2H 2020, if prices stay range bound between $20s - $30s (WTI). Even though many operators are hedged. (see our hedge book data). Some companies are opting to use the cash from hedge operations to shore up balance sheets.
Source : Shale Experts Frac & Completions Database
Methodology :
Shale Experts tracks weekly frac fleets / completion spreads using sources such as surveys, satellite imagery, company disclosures and rig to frac relationship.
Related Categories :
Frac Markets - Fleets / Spread
More Frac Markets - Fleets / Spread News
-
Nextier Details Prelim Q4: Talks Outlook for Frac Market in 2022
-
E&P Plans 500 Completions, 22 Rigs for 2021; Spending Up 11% -
-
Drilling Contractor Predicts 500 Rigs by YE2021, Disciplined Spending -
-
EQT Extends Frac Deal with US Well Services; Adds Fleet
-
Eagle Ford Operators Talk 2H20 Drilling, Frac Activity / Spread Programs -
Ark-La-Tex News >>>
-
Oilfield Services Talk What To Expect In Remainder of 2024 -
-
Large Permian E&P Talks 1Q'24; 282 Wells Planned for 2024 -
-
CNX Resources Cut Frac Activity 50%, Talks 1st Quarter Activity -
-
Large E&P To Defer Completion Activity, Build DUCs
-
Operator Reports 1Q'24 Results; Chop Frac Plans Again -
Gulf Coast News >>>
-
Range Resources Talks 1Q Results; 2024 Wells Plan Unchanged
-
Seventeen (17) E&Ps; To Use 47 Frac Crews To Complete 2,800 Wells In 2024
-
These Permian Operators Plan to Complete/Frac 2,100 Wells IN 2024
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Permian E&P Ups 2024 Well Completed by +27% vs. 2023