Memo To Self --- June 8, 2015

The data point I am most looking forward to in the next Director's Cut ... the number of wells waiting to be fracked. In last month's report, upwards of 900 wells were waiting to be fracked. Based on what I'm seeing so far, it's hard to believe that the number has dropped; if it goes over the 1,000 mark, one can expect a lot of headlines.

On the other hand, I'm going through the "new wells reporting" for 1Q15 and updating the wells on DRL status; it is quite amazing -- it appears 9/10 wells on DRL status in 1Q15 have now been fracked and are producing.