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Intel Bits : E&P Operators Cut Frac Crews/ Rigs For Remainder of 2025; A Detailed Look
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As the dust settles from Q1 2025 earnings season, a clear narrative has emerged across the U.S. upstream sector: a deliberate and widespread slowdown in drilling and completion activity for the remainder of the year. This strategic deceleration isn't panic-driven—it’s surgical, calculated, and rooted in a shared corporate ethos of capital discipline, cost optimization, and maintaining production guidance amid softer macro signals.
We believe you will see two many themes playout.
1. Even more rejection in frac activity in the coming quarters
2. The pickup by Gas Operators will not be enough to offset the drop by oily names
2025’s back half is shaping up to be a challenging period for oilfield service firms. The message from operators is consistent: capital discipline comes first, and…
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