Obsidian Energy Ltd T.OBE

Frac spreads & rigs dropped again.

[Kramerkarma]

drop (-3) in rigs and drop (-6) in spreads... lack of ducs.USA not growing. Gonna take time to get the back logs and manpower back.

[JohnJBond]

Just getting the parts is enough to slow the process.    All it takes is a bottle neck for sand or pipe or even valves and even if you want to drill, you can't.  The US is sinking in regulations.   They have an anti carbon administration.    That's like trying to run in mud.    You can do it, but it's slow 

[kavern23]

And yet USA production is almost 1m barrels up year over year: 11,609 10,710 Look how low the right count was in 2021 and  up almost 1 million barrels up year over year.....that isnt all DUC's to get that 1 m lift...its the fact wells are better in 2021 then in 2018 Same thing in Canada....everyone is growing production still..... USA production grow is going to be "jaggy"

[masfortuna]

Kavern what do you mean by "jaggy"?

[Kramerkarma]

Not disagreeing. The wells today have averaged 840 boe on a 3M time in Permian. VERY impressive. And yea you'll see more oil rigs and a few more fracs there as it's the best bang for buck. The issue isn't 1M /yr it's that we really need 3M today for the rest of they year to have prices walk down. Trust me I'm past bullish and believe a recession is coming after summer due to