Fracking operations across the US have realized a material uptick in June this year after an essentially flat trend from February to May, when activity was still in recovery mode after a seasonal winter dip. The June rebound is a welcome signal that positions US fracking to enter the second half of 2019 with gusto.
According to our preliminary estimate for June, fracking in the US came in at 47 wells per day, an increase by two daily wells from an average of 45 wells per day over the spring months. The June frac rate is still approximately 7% behind the peak level observed last year, when frac operations peaked in May 2018 at 50 wells per day, an all-time high. Closing this gap ahead of the start of 2H 2019 – should the trend persist – will position US fracking in 2H2019 to beat the previously set record from May 2018.
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