Changing Faces: The Global Oilfield Is Being Rewritten
Your Hosts: Primary Vision’s Matt Johnson and Scott Levine (Bloomberg)
Date: Tuesday, June 23rd, 2026
Location: Live Online Webinar
Time: TBD (Typically 10am or 11am EST)
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WHY ATTEND THE JUNE 23RD, 2026 THIRD PARTY OPINION WEBINAR?
At the start of the year, the U.S. upstream story felt easy to explain.
- More frac jobs.
- More efficiency.
- Record production in 2025, even as tariffs, economic pressure, and macro headwinds intensified.
But beneath the surface, something was changing.
In Q1, we said something simple:
- Frac equipment was destined to go to other continents.
- At the time, it wasn’t consensus.
- It wasn’t obvious.
- But the signal was there.
And then it happened.
Halliburton secured a multibillion dollar contract with Argentina’s YPF to deploy fracturing services in Vaca Muerta, one of the largest shale basins outside North America. Source: https://www.bloomberg.com/news/articles/2026-04-13/halliburton-wins-multibillion-dollar-ypf-contract-in-argentina?embedded-checkout=true
- That is not just a headline.
- That is equipment moving.
- We showed where it was going, who was driving it, and how the international unconventional market was beginning to compete with the U.S. for capacity.
- From Argentina to the Middle East, the shift is now visible.
Signals into reality. Again.
A Different Phase of the Cycle.
- After years of unprecedented efficiency gains, the system is evolving again.
- This is no longer a clean, linear cycle.
- Equipment is moving.
- Utilization is shifting.
Availability could be tightening in material ways.
At the same time, operators are changing how they think.
- Growth is no longer the only objective.
- Capital discipline is real.
- Optionality matters more than scale.
- The result is a market sending mixed signals.
- Strong production.
- Shifting activity.
- Unclear direction.
So What Changed?
Iran.The Strait of Hormuz.
- A market pushed to the edge.
- At one point, the Strait was effectively shut down.
- Then reopened.
- Then disrupted again.
- Ships turned around.
- Flows stalled.
- Markets reacted in real time.
This is not theoretical.
It’s still happening. The story is still fluid.
A significant portion of global oil supply moves through that chokepoint, and even partial disruption sent immediate shockwaves through pricing and sentiment.Oil volatility returned.Confidence was tested.And the idea of stable supply was challenged again.
The question now is bigger than the event itself.Are we moving back toward stability?Or did this expose how fragile the system really is?Because beneath all the noise, one truth is becoming harder to ignore:Hydrocarbons are not going away.
If anything, recent events reinforced how dependent the global system still is on reliable oil flows.
They are directly influencing pricing, capital flows, and U.S. decision-making.
Will this period of disruption lead to a new phase of stability?
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What Happens Next Matters More Than What Just Happened
The biggest shifts are already underway.Activity is adjusting.Capacity is being rebalanced.Expectations are changing.
And now, a new force is entering the system.AI infrastructure.Data center expansion.
A new demand layer for power and energy.This is no longer just an oilfield story.It is a broader energy system evolving in real time.
AI, Data Centers, and the Next Demand EngineA new layer is forming beneath the energy market.AI is driving infrastructure buildouts.Data centers are clustering in key regions.Power demand is becoming a constraint, not a given.This is where the next wave of capital is going.
Is it justified?
Join our Third Party Opinion webinar with Bloomberg on June 23rd to decide.
### Your Access Includes More Than the Webinar ###
A Third Party Opinion subscription is $1,000 annually and delivers far more than a single event:
One live webinar included plus three additional webinars throughout the year (four total)
One full year access to our research portal including articles equity research, Monday Macro View and Market Sentiment insights
Customizable dashboards with exportable charts
Weekly national-level Frac Spread Count and Frac Job Count data, including forecasts
Frac Operator Monitor for E&P activity tracking
Free Trial Access to expanded modules and custom builds for deeper team integration
MORE ABOUT YOUR HOSTS
Matt Johnson
President & CEO
Primary Vision
Bio
Matt Johnson is the CEO of Primary Vision, where he leads the development of trusted, data-driven insights for the oil and gas industry. He is the co-creator of the Frac Spread Count™ and Frac Job Count, widely used benchmarks for tracking U.S. completion activity and service intensity.
Matt’s work is relied upon by operators, service companies, financial institutions, and policymakers to understand real-world activity trends. He is a frequent industry speaker and media contributor, known for translating complex datasets into clear, actionable insight.
Scott Levine
Senior Energy and Industrial Services Industry Analyst
Bloomberg Intelligence
Bio
Scott Levine is a Senior Energy and Industrial Analyst at Bloomberg Intelligence, specializing in infrastructure, oil and gas, and the energy transition. Prior to joining Bloomberg Intelligence in 2016, he accumulated over 15 years of capital markets experience, working as a sales analyst at JP Morgan, UBS, and Imperial Capital. Levine holds a Bachelor’s degree in Finance from Lehigh University and an MBA from New York University’s Leonard N. Stern School of Business.
For more about his professional background, visit his LinkedIn profile
EXAMPLE DECKS FROM PREVIOUS EVENTS
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WHY LEADING ORGANIZATIONS MAKE TIME FOR THIRD PARTY OPINION WEBINARS
Third Party Opinion does not follow market narratives.It tests them.
Every session is built on one principle:Measurable signals matter more than headlines.
Earlier this year, we said equipment was leaving the United States.Then it did.
We tracked the shift as fleets moved internationally, with capital pulling capacity into markets like Argentina and beyond, and it played out exactly as we expected.
At the same time, the Frac Job Count continued to cut through noise, signaling underlying completion strength despite tariffs, macro pressure, and negative sentiment, ultimately aligning with record U.S. production.
We have consistently separated headlines from reality, explaining what changes in the Frac Spread Count actually mean for utilization, capacity, and pricing. Oh and we’ll cover the efficiency game too, providing you a to the month update!
These are not isolated trends.They are reshaping the global fracking narrative.
Third Party Opinion is where operators, investors, and analysts step back from the noise to understand what is actually happening.The signals are there. The question is whether they are interpreted correctly.
Join the session and see the shift before it becomes the headline.
THIRD PARTY OPINION + EFRACS ACCESS
Get national-level forecasts, exclusive research, and expert webinars today.
Unlock Full Access Now – Start Your SubscriptionNational-Level Frac Spread Count and Frac Job Count, exclusive research and more!
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