Sunday, December 22, 2019

Rig Counts Don't Matter -- Someone Is Reading The Blog -- December 22, 2019

Finally (we've been talking about this for years):


For the archives: small Texas town makes football history.
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Global Warming Saved The Whales!

Or maybe the Star Trek crew -- by the way, what do "global warming" and "Star Trek" have in common? LOL.



2 comments:

  1. i don't understand those tweets..."frac spreads" sounds like some kind of price differential between oil & gas derivatives, but i couldn't venture a guess what...

    meanwhile, rig counts may not matter for production, but completions do...November saw the largest drop in completions in 57 months...(details at the usual place)

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    Replies
    1. Agree 1000%. It's not the number of rigs, and it's not the number of wells spud/drilled; it's the number of completions.

      I was confused years ago with the term "frack spreads." I don't know the background. I assume it was a term used in the oil patch that became the "official phrase."

      For newbies, "frack spreads" or "frac spreads" are the whole enchiladas involved in fracking (or fraccing) a well: the frack crews and the equipment. In the Bakken the ratio between the number of active rigs and number of frack spreads is about 5:1. But an operator needs access to a minimum of one frack spread to stay in business no matter how many rigs.

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