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…
More consolidation news today as CAT announced an agreement to acquire Weir Group’s Oil & Gas Division. Both CAT and Weir have played in the power end, fluid end, flow line businesses for some time. Weir, however, is generally viewed as one of the…
Aside from the DVN/WPX announcement on Monday, this was another fairly quiet OFS/E&P news week, so no major revelations to impart this note. SND Contract Extension: In a sign that northern white sand still has some life, we note an 8K filing this week…
Quiet week last week, thus a short note this weekend. First, a reminder that our transition to a new distribution system continues, so expect this exact same note sometime Monday afternoon. If you have not received our note via the new format, we believe…
This past week we headed north to Oklahoma to meet industry friends in the Sooner state. This marks our third tour through Oklahoma since the start of DEP in April. While statewide activity levels remain low, there are still lots of people to see…
Headline OFS news this morning is encouraging as a consequential M&A deal within pressure pumping is announced. SLB and LBRT jointly announced that SLB will contribute its pressure pumping business into LBRT for a 37% ownership interest in LBRT. The combined company is sizeable…
When headline OFS & EP energy news is light, as was the case this past week, sometimes research folks have to work a bit harder to find newsworthy material. On that point, DEP took to the streets to chat with frac contacts in order…
Mixed emotions this week as our Permian trip felt like a cold shower, but upon returning to Houston, the BKR U.S. land rig count jumps 10 rigs w/w. Feels like the zig and zag may persist, but on the margin, we see things improving,…
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…