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,…
Quick father/son trip to Midland earlier this week in order to gauge leading edge frac and drilling activity as well as E&P sentiment. Here are our takeaways. Frac Activity. The current Permian completion count, we believe, remains steady with local contacts reporting ~50 fleets…
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…
Better late than never. Daniel Energy Partners had the joys of driving our daughter’s car to the Northeast last week for college; attending our son’s delayed high school graduation in Virginia on Saturday and then making a surprise trip to North Carolina to see…