<!-- wp:shortcode --> [ihc-hide-content ihc_mb_type="show" ihc_mb_who="10,13,14,16,18,19" ihc_mb_template="1"] <!-- /wp:shortcode --> <!-- wp:html --> <h2 style="text-indent: 40px; text-align: justify;"><em><strong>Frac Spreads +4 to 74</strong></em></h2> <!-- /wp:html --> <!-- wp:html --> <p style="text-indent: 40px; text-align: justify;">The Permian Basin has seen rig counts decline 77% from their all-time highs. This will end up being historic lows. </p> <!-- /wp:html --> <!-- wp:html --> <p style="text-indent: 40px; text-align: justify;">Based on conversations and our proprietary data we see a flattening of activity in the shale patch. Operators have grabbed some opportunities, but don’t appear anxious to take us to 100 active frac spreads. </p> <!-- /wp:html --> <!-- wp:html --> <p style="text-indent: 40px; text-align: justify;">Upwards of 100,000 people have lost their oilfield service jobs in the last 14 months per PESA (Petroleum Equipment and Services Association). With earnings season upon us, is another wave of layoffs/furloughs coming? </p> <!-- /wp:html --> <!-- wp:html --> [/ihc-hide-content] <!-- /wp:html -->