RE:RE:RE:RE:HedgingCliff..the one thing most people are not mentioning in the 160 USA rig count since start of year is that frac count was only 257 in jan. It was 259 last week and 255 this week. It always has remained the same this year or above even with all of drilling rig loss.
I think reason why frac count is so strong is the rigs dropped were not drilling either fracced wells or long horizontal wells.
Frac crews are doing less wells but longer.
Exxon buying Pioneer also proves permain is so good man.
I heard people bashing permain since 2016 and it only has exceeded expectations realstically.
Texas is well over 5m boe and what 320 rigs...that world class.