"I’d like to thank readers for the lively, dignified, albeit passionate at times, debates in comments these past 2 days. You never learn anything listening to people you agree with."
Since quite some time I think about a proper characterisation of the author of this substack.
For 2-3 years I have heard that drilling rigs are far more efficient than they used to be. So I wonder if B-H's raw number of rigs is as valid and reliable as it used to be. Are we now comparing apples to oranges? A question/thought.....
Baker Hughes is the gold standard bc they do the work. They count triple fracking ( "trimulfracs" = 3 wells on 1 pad) as 3 separate wells) accurately.
For example, the EIA’s analysis of FracFocus data (https://fracfocus.org/) identifies simultaneous completions by grouping wells within 50 feet of each other with overlapping fracturing dates, but each well is still counted as a separate entity (Grok-4).
According to the EIA "The efficiency of trimulfracs lies in shared infrastructure and simultaneous operations, not in redefining the wells as a single unit. For instance, the EIA report highlights that operators like Chevron and Matador Resources use trimulfracs to save time and costs (e.g., Matador reported a 25% reduction in completion time and $1.1 million in savings), but the wells themselves remain distinct in production and accounting terms."
Much faster and much cheaper cheaper. Also bearish for price and supply, imo... nat gas getting crushed lately bc associated gas is still a problem.
"I’d like to thank readers for the lively, dignified, albeit passionate at times, debates in comments these past 2 days. You never learn anything listening to people you agree with."
Since quite some time I think about a proper characterisation of the author of this substack.
Just came to my mind:
Gentleman Writer.
Thanks a lot JJ
yw petra and ty vm to you as well.
For 2-3 years I have heard that drilling rigs are far more efficient than they used to be. So I wonder if B-H's raw number of rigs is as valid and reliable as it used to be. Are we now comparing apples to oranges? A question/thought.....
Baker Hughes is the gold standard bc they do the work. They count triple fracking ( "trimulfracs" = 3 wells on 1 pad) as 3 separate wells) accurately.
For example, the EIA’s analysis of FracFocus data (https://fracfocus.org/) identifies simultaneous completions by grouping wells within 50 feet of each other with overlapping fracturing dates, but each well is still counted as a separate entity (Grok-4).
According to the EIA "The efficiency of trimulfracs lies in shared infrastructure and simultaneous operations, not in redefining the wells as a single unit. For instance, the EIA report highlights that operators like Chevron and Matador Resources use trimulfracs to save time and costs (e.g., Matador reported a 25% reduction in completion time and $1.1 million in savings), but the wells themselves remain distinct in production and accounting terms."
Much faster and much cheaper cheaper. Also bearish for price and supply, imo... nat gas getting crushed lately bc associated gas is still a problem.
"I am the walrus", Ambassador to the City of London...koo koo kachoo
Thank you, very informative!