Today, over at Rigzone: Frac is back.
U.S. fracking is set for its first monthly rise this year, according to a new Rystad Energy analysis.
The independent energy research company outlined that new fracking operations in the country are on track to grow above 400 wells in July, after dropping to a bottom of 325 wells in June. The business said its satellite data shows 246 newly started frac jobs this month, with 96 frac jobs beginning just last week.
According to Rystad, the running rate of frac activity in the Permian has shifted from 15 to 20 wells per week in May and June to 40 to 45 wells per week in the last three weeks.
In all other oil basins - including Bakken, Eagle Ford, Anadarko and Niobrara – Rystad said its latest fracking activity estimates suggest fracking activity is around 35 to 40 wells per week since the beginning of July.
“We therefore estimate that the final July frac count might surpass 400 wells, and will return to levels last seen in April 2020,” [a Rystad spokesman] added.