[ihc-hide-content ihc_mb_type="show" ihc_mb_who="10,13,14,16,18,19" ihc_mb_template="1"] Frac Spreads +5 to 175 DAPL Keystone Thoughts The Keystone XL pipeline seems all but dead sans the years of litigation that will certainly take place. Combining this with the Biden-led federal land moratorium on frac’ing and the perception is that the North American oil and gas business is wincing with pain. Look through one lens and you can say this has done major damage to the future of frac’ing in the United States and Canada. However, looking through another lens one might argue the North America hydraulic fracturing business is clearly in an upcycle filled with accelerating environmental options and improved economics. Food for thought. Next up is the Dakota Access Pipeline which has activists on deck waiting for a decision from the United States Army Corps of Engineers as to shut down the pipeline or keep it open during a stringent environmental review. We believe the Biden Administration will handle this with kid gloves waiting for the USACE’s results on April 9th. At a blistering pace now… The Permian remains the big driver of spread activations in the U.S. We have had discussions internally on whether or not we can hit 200. We’ll do a review of completions mid-month and keep you updated. A frac supply crunch is now a 2021 reality. ESG or Pricing? For years operators would forego greener solutions for more advantageous oilfield services pricing. With OFS companies like Liberty and NexTier offering a suite of greener fuel options we’ll soon be able to tell you which frac engineers chose the green path (natural gas / electric options) vs. the traditional pumps (powered by diesel) available over the last 5 to 20 years. Will Biden and/or activist investors demand operators choose the former as progress to greener frac’ing? Today we launched our economy show, our most robust yet. Mark covers our fledgling economy in detail on the Primary Vision YouTube right here: https://www.youtube.com/primaryvisionnetwork [/ihc-hide-content]