Vermilion Energy Inc T.VET

Rigs were +10 WoW because it was a moving day

[PipelessPauper]

I’ve decided to stick around after all.
You can thank Sclarda clown ..... I just want to pi$$ his poor f*** a$$ off... 

pay attention to the first 1:30 - he explains how rigs in transit created for the increased rig count (the 16 month high #). Rig count is still WAYYYYY down from the pre-pandemic figure of ~ 900.

note the 2016 low was ~ 400 units @ $26 oil ....

but more importantly, and what can give a better indication of a flood of new supply, is the frac-spread count. This # was only up by 3 units to 239.

https://m.youtube.com/watch?v=9oyX6IogIs0

[halitosis8]

the shale players are able to keep the rig count low by burning up the DUCs.  I look at the DUCs as a subsidy from the drill baby drill days of free money.  The DUCs will disappear as the hedges roll over, so the shale plays will benefit from a less hedged position, but their cost will go up to pay for the new drilling.   I also wonder if the most-productive zones are tapping

[PipelessPauper]

“I also wonder if the most-productive zones are tapping out at all.” they for sure are. Between shale players cannabilizing all their DUCs and good acreage .. team Biden will be lucky if it stays at $100 oil. My guess is we go a LOT higher... hold onto yer buts!!