[ihc-hide-content ihc_mb_type="show" ihc_mb_who="10,13,14,16,18,19" ihc_mb_template="1"] Frac Spreads +7 to 165 New Highs Rigs and spreads are both rising as we move through the first month of January. The ratio of oil focused (production) spreads to gas focused spreads is roughly 4:1. Spreading Rumors Rumors of a second huge merger / joint venture are emerging in the pressure pumping market. Will one of the larger pumpers combine equipment with a struggling supplier or will a pumper cozy up with one providing Efrac providers? We provided some info to Rigzone this week on the growing Efrac market here: https://www.rigzone.com/news/what_does_efrac_need_to_flourish-28-jan-2021-164461-article// Regulatory Filings We call the period from Thanksgiving to Valentine’s Day “holiday time” here at Primary Vision because everything slows down. Filings from all angles slow down, but for some reason completions gets the largest delay. There really isn’t a penalty in place to force parties to file their completion reports on time so when people are out of the office (over the holidays or vacation) it can get pretty bad. This is the first time we’ve seen this severe of a delay since January of 2018. [/ihc-hide-content]