The story of U.S. Shale industry has become central to the global oil markets. While the pace of increase in shale production has slowed it still is on the rise. But there are growing pressure from the climate activists to go green. As such the industry has started to adapt and this update mentions, at length, the key technologies that is helping them to do so. Along with that it also takes a look at the global economy.
1. Powering the Present, Charging the Future: Dual Fuel, Electric Fracs and Geothermal – FREE
In the quest for sustainability and efficiency, the frac’ing industry stands at the dawn of a new era powered by technological innovation. Primary Vision has been tracking the latest developments regarding major frac companies and there are three groundbreaking technologies that are poised to reshape the landscape of frac’ing beyond 2024. This article intends to provide a brief overview of each technology and its progress and implementation in the industry.
2. Monday Macro View: US Shale and other news – PREMIUM
Recent technological advancements are significantly impacting the U.S. shale oil industry, reversing prior declines in well productivity despite the need for substantial upfront investments. From 2020 to 2023, productivity per foot drilled in the Permian Basin decreased by 15%, equating to levels seen a decade earlier, as reported by Enverus. What does this mean for the shale industry in future? Read the update to find out!
3. ProFrac Holding- Q1 Take Three – PREMIUM
Quarter-over-quarter, ProFrac Holding’s (ACDC) revenues increased by 19% in Q1 2024, while its adjusted EBITDA margin inflated by 510 basis points. Increased activity level positively impacted utilization and increased its topline. On top of higher efficiency, lower costs caused the EBITDA margin to improve in Q1. Find out more in this brilliant brief by Avik Chowdhury!
4. STEP Energy Services: Q1 TAKE THREE – PREMIUM
STEP’s cash flow from operations decreased by 78% in Q1 2024 compared to a year ago. As a result, its free cash flow turned negative in Q1 2024. It also incurred more long-term debt (up by 33%) in Q1 from a quarter ago. In Q1 2024, STEP Energy Services (STEP) fracturing operating days improved steeply in Canada but fell in the USA compared to a year ago. Read the article to learn about the pulse of the shale industry!
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