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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)

    ReplyDelete
    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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