August 28th, 2020
The video transcript discusses the Frac spread count in the energy industry. The host mentions that the show will be shortened due to the upcoming Independence holiday. They mention that many people are taking an extended holiday and trying to escape by leaving on Wednesday or Thursday. The host also mentions that their company will be closed on Monday and Tuesday.
They then discuss the Frac spread count for the week ending June 30th, which is 272, a decrease of 5. They mention that there were only a few changes in the Haynesville and DJ Basin, and nothing to be concerned about. They also talk about the impact of the airline industry's tough week and how it affects transportation and demand. They mention weather delays in Denver and the Southeast, as well as a heat wave in Texas. They say they will cover these topics in more detail in the next week's show.
The host then briefly discusses the changes in the Frac spread count over the year. They mention an increase in Q1, stable gas prices, and a strong oil price deck. However, gas prices fell, leading to some operators wanting to get out of their contracts in gassy basins like the Haynesville and the Northeast. They mention that some spreads came offline but found new homes in South Texas and areas that get warmer. They mention that the recount continues to decline and that without rigs, there are no Ducks (drill the uncompleted Wells) and without Ducks, there are no spreads. They mention that there may be more spreads coming offline due to transportation and weather issues. They conclude by saying that the Frac spread count demand is not expected to have a substantial move and will likely stay in the range of 250 to 275.
Keywords: energy industry, Frac spread count, Independence holiday, extended holiday, transportation, weather delays, gas prices, gassy basins, South Texas, recount, Ducks, drill, uncompleted Wells, volatility, confidence range.
#energyindustry #Fracspreadcount #Independenceholiday #transportation #weatherdelays #gasprices #gassybasins #SouthTexas #recount #Ducks #volatility
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