RE:JD, Red, Td et al....DUC chart update..your opinion..Adjusted for the CPI, $120 WTI is about $85 in 2007 dollars. We'll need oil to go significantly higher to incentivize the investments needed to replace the aging equipment and pay the increased labour and material costs to increase the frac spread count.
What was the count at 2007? Would be interesting to zoom out a bit more on this graph.