OTCPK:PDPYF - Post by User
Comment by
Kramerkarmaon Jul 03, 2020 12:10pm
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Post# 31220858
RE:DUC's - Fracking 2021
RE:DUC's - Fracking 2021
IMO no. Not because fracking wont pick up but because itll be less than before and theres more frack fleets than oil companies using them. Even before covid frack spread count was dropping balance sheets are worse than ever production will be lower than before covid and debt higher for every company with reserve based lending trimmed for the year. So IMO activity after picking up cant be as high before covid . Mabey a year out but I'm not going to invest in the business that's first to feel the pain and last to feel the gain. Just my opinion. Frack spread count was reported at 74 yesterday 78 week befor 70 week before that . Like 319ish before covid and 379 last year at this time. And USA needs 315- 335 to hold 13M b/d production. Also theres at least 500 frack spread equipment (some of it not salvagable) I see 320 holding in 2022. Pretty competitive.