STAGES Update: 8/13/2021

STAGES update for the first week of August:

STAGES Pumped

The frac crew count gained 3 crews. The first gain in a few weeks.

STAGES Created

The horizontal rig count continued to increase this week. The Permian remained flat while Williston & Eagle Ford added 4 each! Both of which were highs since May of 2020.

STAGES Ratio

The STAGES Ratio remained flat at 52%. It is still below its 6 mo. moving average.

STAGES News

Chesapeake Energy purchased Vine Energy for $2.2B. The acquisition was done at current share price for Vine Energy. The first comment from Chesapeake’s CEO was that the acquisition would “meaningfully increas(e) our free cash flow outlook”. Free cash flow is definitely the name of the game in todays oil market. Since the announcement, CHK stock has gained 3%.