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Message
re: Oilfield Folk - Torque & Test Question
Posted on 6/21/17 at 8:12 pm to Corkfather
Posted on 6/21/17 at 8:12 pm to Corkfather
Not for long. Frac prices are getting out of control. Drilling is still going because of contracts. A report I got this week showed that over 150 DUCs were getting added to the count monthly. Additionally to that, oil forecasts aren't showing anything over 50 for the rest of the year, with one investment bank thinking it could be 30 at some point. Private Equity money will soon dry up and activity will slow. It may not be this week or month, but the rest of the year could be a downtrend. Hopefully that's wrong, but indications are it will happen.
1
Posted on 6/21/17 at 8:18 pm to fiyahbyrd157
quote:
Not for long. Frac prices are getting out of control. Drilling is still going because of contracts. A report I got this week showed that over 150 DUCs were getting added to the count monthly. Additionally to that, oil forecasts aren't showing anything over 50 for the rest of the year, with one investment bank thinking it could be 30 at some point. Private Equity money will soon dry up and activity will slow. It may not be this week or month, but the rest of the year could be a downtrend. Hopefully that's wrong, but indications are it will happen.
How are frac prices getting higher?
Fuel is down, propoant is down, labor is down, companies are competing like crazy.
I think the operators are doing it to themselves with 5-6 well pads, 60 stage fracs, etc.
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