STAGES Update: 7/2/2021

STAGES update for the first week of July:

STAGES Pumped

The frac crew count recaptured 2 out of the 3 lost last week, increasing the stages pumped this week.

STAGES Created

The horizontal rig count recovered by 8 rigs this week. This was led by 4 rigs in the Permian, followed by 2 in the Niobrara, and one each in the Marcellus & Williston,

STAGES Ratio

The STAGES Ratio was flat for this week.

STAGES News

At the start of Q3, the rig count is up 109 rigs since the beginning of the year. The frac crew count is up 91. The counts are drastically increased from last year at this time, when we were in the thick of the pandemic.

The latest OPEC meeting, scheduled for Friday July 2nd, failed to result in an agreement. Over the weekend oil continued its rise.