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Sunday, February 20, 2022

Focus On Fracking -- February 20, 2022

Link here. The lede:
  • oil supplies at a 13-year low;
  • oil + products supplies at a 7 1/2 year low;
  • DUCs down 40% YoY, lowest since Jan 2014
  • US oil supplies are at a 13-year low,
  • Strategic Petroleum Reserve at a 19-year low;
  • total oil + products supplies at a 7 1/2-year low;
  • distillate supplies are at 26-month low after refinery freeze offs;
  • DUCs down 40% YoY and are lowest since Jan 2014 with DUCs in 4 basins at record lows;
  • 5.0 month DUC backlog is lowest in 7 years;
  • natural gas rigs rise most in 57 months

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