Full Throttle,
Fewer Spreads.
Primary Vision introduces the Frac Efficiency Index, and lays out where production and completions stand as the market exits 2026.
Hosted by Matt Johnson, President & CEO of Primary Vision,
and Osama Rizvi, Energy & Economic Analyst at Primary Vision
At the start of 2026, efficiency was the industry's favorite word.
Fewer spreads.
More footage per crew.
Record completions, even as capital discipline dominated the earnings-call language.
Everyone could see the trend. No one had a single number for it.
So we built one. The Frac Efficiency Index (FEI) measures completions output against active spread capacity, basin by basin, week by week, drawn from seven-plus years of Primary Vision data.
It's arriving at the moment the market needs it most. Equipment is still migrating south, toward Vaca Muerta and beyond. Domestic spread counts haven't returned to prior levels. Yet completions have held, and in places, accelerated.
On October 15th, we put a number on that gap, and what it means heading into 2027.
What we're covering
Introducing the Frac Efficiency Index
The formula, the methodology, and the first look at FEI live inside EFRACS. What it says about whether fleets are actually working harder, or whether the market just got better data. Basin-level breakdowns roll out first to Pro-tier subscribers.
Production & Completions: The Exit From 2026
Where completions activity actually stands against the capital-discipline narrative. What the international equipment migration leaves onshore. And Primary Vision's read on production and completions as 2026 closes and 2027 opens.
Where We Are & Where We’re Going
A clear look at current Frac Spread Count and Frac Job Counts against updated forward projections. We examine what recent activity trends signal for fleet utilization and completion trajectories heading into next year.
Powder River Basin (PRB): Taking it to the Next Level
A deep dive into PRB activity dynamics, operator efficiency gains, and infrastructure capacity. Why this basin is demanding renewed attention and what the numbers tell us about its growth ceiling.
Frac Supply Nuances: Newly Completed System-Wide Updates
An insider breakdown of our latest platform enhancements across global and domestic equipment tracking. How updated supply metrics and system recalibrations provide a sharper view of active horsepower and how they lead to our Frac Efficiency Index.
Frac Chemistry Inspector: Why Chemical Data Matters More Than Ever
Presented by Osama Rizvi
Discover how the Frac Chemistry Inspector transforms raw chemical disclosure data into real-time,
auditable insights into what operators and suppliers are actually doing in the field—from emerging
trends like the Permian surfactant boom to job-level classification and supplier tracking across any basin.
Your access includes more than a single webinar
- 4 Live “Third Party Opinion” Webinars — Join all four quarterly sessions throughout the year to get expert macro perspectives.
- Full EFRACS Research Portal Access — Unrestricted entry to equity research, Monday Macro View, and market sentiment updates.
- Weekly Frac Data & Forecasts — Track national-level Frac Spread Counts and Frac Job Counts with predictive forecasting.
- E&P Activity Tracking — Monitor U.S. E&P trends directly via the Frac Operator Monitor.
- Expanded Integration Trial — Test upgraded modules, forecasts and/or build custom tools for you or your company!
Your hosts
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.
Osama is an energy and economic analyst. He is a regular panelist at international TV channels such as TRT World, CNBC, Sky News, Anewz TV and others. His areas of expertise include macroeconomics, climate change and energy markets especially oil markets. He has been featured in The Telegraph, Al Jazeera, Khaleej Times and Business Insider while being a contributor at Euronews, Oilprice, Illuminem, Seekingalpha, National Interest, and others.
Data. Research. Signal.
