Primary Vision Network on YouTube

August 28th, 2020


The key points discussed in the video are:

1. The Frac spread count in the US has decreased from 300 to 290 due to seasonal reasons.
2. The slowdown in activity is more significant in smaller entities like Denver and Appalachia, while the Permian and other parts of Texas remain fairly active.
3. Rig counts have seen a small drop, with a decrease of three in horizontal rigs.
4. Despite the slowdown, there is still enough activity to increase the duck count and provide a decent runway for next year.
5. The projected production levels for this year are around 12.3 million barrels per day, with an increase to 12.7 million barrels per day next year.
6. The price cap for oil has been agreed upon at $60, but URLs are already trading below this price.
7. ESP (Eastern Siberia-Pacific Ocean) oil is not affected by the price cap as it is already being exported to Asia.
8. The focus is on murals (West Texas Intermediate crude oil) as it is impacted by the price cap.

#energyindustry #oilandgas #fracspread #rigcounts #productionlevels #pricecap #ESP #murals

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