US Shale Revolution, The Permian, And Jobs -- September 29, 2019

Rigzone: Permian oil and gas to support 93,000 jobs in 2020. Link here.

Of course, that does not compare to the 730 million women that Joe Biden promises to bring back into the American workforce if he is elected president.

But back to reality. How does 93,000 compare to earlier numbers?

• that's about 6,000 more jobs that 1H19
• that's 12,000 more jobs than 2018

The experts say that several factors could affect this. They fail to mention that fracking will be banned if Pocahontas is elected president and according to MSNBC Texans are so upset with President Trump, the state will go blue in 2020.

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Newest Permian Pipeline Has Begun Full Commercial Service

From Rigzone:

• natural gas pipeline
• KMI (34% interest); others: Altus Midstream; DCP Midstream; Targa Resources (affiliate)
• committed shippers: DCP; Targa; Apache; Pioneer Natural Resources; Exxon-subsidiary XTO
• the Gulf Coast Express Pipeline (GCX)
• from the Permian Basin to the Texas gulf coast
• specifically from the Waha area in west Texas to Agua Dulce near Corpus Christi
• capacity: 2 billion cfpd (350,000 boepd)
• comes in one month ahead of schedule
• 3,000 contractors
• 6 million contractor hours: no major safety incident

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Finally

Rig counts don't excite me. Frack spreads do. But even so -- we need more data but glad to see folks starting to track and report frack spreads.

From Rigzone:

In its latest weekly newsletter, Primary Vision points out that U.S. frac spread counts are down nearly 100 since mid-spring. Roughly two-thirds of the reported declines are in three plays:

• Permian Basin: down 30 frac spreads
• Eagle Ford Shale: down 20 frac spreads
• Williston Basin: down 15 frac spreads

“We may not see a comeback at all, but we’re predicting that it will level off before getting much worse because of planned completions,” noted Johnson.

Johnson attributes the downward movement in frac spread counts in recent months to operators’ ability to do more with less.

“It seems that more wells were completed with less spreads,” he said. “When the dust settles, it will be interesting to understand how utilization changed year over year.”

But again, "down nearly 100 frack spreads since mid-spring, 2019" but how many frack spreads are there altogether.