As 1Q20 E&P earnings season gets under way, there are just a handful of US E&P operators that haven’t publicly disclosed how much they’ll cut their 2020 spending programs in the wake of the crisis. There are some common traits shared by some of these companies including… a) gas exposure …

We are currently in the throes of the sharpest rig count contraction in history, and we expect the next several weeks to register continued large drops as the US land rig count is likely to fall sub-200. There’s a lot more to this story… Login to see the full update…  …

The US government has approved two rounds of “Paycheck Protection Program” (PPP) funding totaling nearly $700bn. The program offers partially forgivable loans of up to $10mm for companies with 500 or less employees. The funds are trickling into the oilfield, and rightly so. Here’s a look at the energy companies …

On an historic Monday when the WTI front month contract fell more than 300% into negative territory, natural gas spot prices were up 10%! Here’s a look at bifurcating fortunes by basin focus… There’s a lot more to this story… Login to see the full update…  To read this update …

The Texas Railroad Commission (and a whole bunch of oilfield folks) had a very busy Tuesday. The three Commissioners hosted a nearly 9-hour long virtual open hearing on Tuesday, taking petitions for and against prorating Texas oil production. 20,000 viewers tuned in to watch the webcast. A whopping 53 industry …

E&P operators announced their spending cuts a week or two before most of the oilfield service industry (OFS). We are tracking the E&P capex pullbacks in real-time here, and their planned rig releases and frac crew releases too. Now it’s OFS’s turn to activate the downturn playbook and announce cost …

The US rig count is down 170 units in three weeks. On a percentage basis, (-22%) that is the… There’s a lot more to this story… Login to see the full update…  To read this update and receive our research newsletters, you must be a member. If you are new …

In addition to the personnel exposure benefit, the elimination of the drying process has a very real impact on energy consumption and the resulting emissions. Converting an annual operation that pumps 360,000 tons of sand dried by natural gas to a wet sand operation would reduce CO2 emissions by at …

Putting numbers to it, the total US rig count (land and offshore) fell by 108 rigs over the last two weeks, or a 14% decrease. Here’s how this crash stacks up against 70 years of US rig count history… There’s a lot more to this story… Login to see the …

This piece charts the capex cuts daily so far in what can only be described as a historic, no dystopian, E&P crisis response. We also discuss what happens next with capex spending and frac crew releases and the bigger picture… There’s a lot more to this story… Login to see …