STAGES Update: 7/16/2021

STAGES update for July 16th:

STAGES Pumped

Another week with an increase in the frac crew count of 4 and a jump of 224 stages pumped for the week.

STAGES Created

The horizontal rig count by 1 this week. The Permian added one with Wyoming adding 2. The Granite Wash and the Woodford lost 1.

STAGES Ratio

The STAGES Ratio and the 6 month moving average both increased by 1% this week. The gap between STAGES created and pumped continued to widen. Operators continue to invest more in completions of their DUCs rather than creating new wells.

STAGES News

OPEC finalized their agreement at the end of the week. Also, the spread of the Delta Variant dominated the news. Both contributed to a large fall in the oil price which closed at $75.25 on 7/13 and was below $70, for the first time in over a month, a week later.