[ihc-hide-content ihc_mb_type="show" ihc_mb_who="10,13,14,16,18,19" ihc_mb_template="1"] Frac Spreads +12 to 101 Timing is everything The first time we’ve seen a triple digit Frac Spread Count since late April. We think this is the result of three things: A. 2019 strategically planned completions (Seasonally we see an uptick shortly after the summer) B. Operators managing decline curves by shifting focus on premium drilling sites to knocking out DUCs (drilled yet uncompleted wells) in the Western Gulf (Eagle Ford), TX-LA-MS SALT (Haynesville) and Williston (Bakken) C. Operators taking advantage of relocated frac equipment in a depressed market (activating spreads that otherwise weren’t on their schedule). Dreaming of consistency and a cold winter With operators planning timely activations (see above) we hope the Frac Spread Count can stay above 100 through October. With a shift from warmer to cooler weather, in October/November, we often see a dip in activity with operators that aren’t equipped to handle the inclement weather (hot fueling, higher labor costs, etc.) and pumpers who don’t have this type of skilled labor at their finger tips like they used too in colder regions. We simply might see the ceiling in North Dakota very soon. Not soon enough With energy equities getting pummeled recently (and stumbling into bleak earnings season) deals like the Devon/WPX merger need to become a daily mantra. Devon a once $50b company and WPX a once $8b company look to be synched up in acreage and logistics. With little regulatory to worry about here, we have one question: Who’s next? A can’t miss interview with the oilfield wizard James West from Evercore ISI can be found on our YouTube Network https://youtu.be/HdIgHpmoiV8 Active Frac Spread Counts Showing Tenuous Recovery A comprehensive view of the frac spread market from Mark Rossano (of C6 Capital) and Matt Johnson (of Primary Vision) is offered in this months American Oil and Gas Reporter https://www.aogr.com/magazine/editors-choice/active-frac-spread-counts-showing-tenuous-recovery [/ihc-hide-content]