STAGES Update: 12/10/2021

STAGES update for the first full week in December:

STAGES Pumped

Frac crew count lost 4 this week to continue a drop in STAGES Pumped. Is this further response to the uncertainty in commodity pricing?

STAGES Created

The horizontal rig count increased by 7 this week, reaching highs for the year in the Utica, Woodford, Permian, and Eagle Ford.

STAGES Ratio

The STAGES Ratio dropped 1% and stayed below its 6-month moving average.

STAGES News

Ameridev + Advance Energy Partners

EnCap Investments announced on 12/13 that it was combining two of its investment companies, Ameridev and Advance Energy Partners. The combination is now worth $4B and they expect to take it public within the year.

Read the press release here.

8Sigma gets growth financing and signs an agreement with NOV

8Sigma is a relatively new entrant to the multi-stage products game and has been gaining traction this year. They supply innovative solutions include a composite frac plug, dissolvable frac plug, and an unlimited stage sleeve system that is actuated using dissolvable “darts”. This week they announced an additional $6MM in growth financing alongside a worldwide technology partnership with NOV.

NOV entered the completions market in 2016 through the acquisition of Tracan Well Service’s completion tools product line, which was acquired from i-TEC in 2013. They have since added liner hangers through the acquisition of German Oil Tools and have been private labeling composite plugs from other manufacturers.

Read the press release here.