Not really, I am not confident that an uptick in natural gas activity will offset the weakness from oil. These are really bad prices for US shale on the liquids side now. Could just continue the status quo rather then see an improvement. Even worse is the uncertainity as E&P companies expect to get rinsed based on the $50 comments from Peter Navvaro last night. This will not be good for D&C activity in the United States in the near-term. imho.
you called the bottom so far!
Thanks a lot for the timely update / thoughts.
Are you surprised to see Profrac taken down together with other OFS names? Nat gas has been going up.
Not really, I am not confident that an uptick in natural gas activity will offset the weakness from oil. These are really bad prices for US shale on the liquids side now. Could just continue the status quo rather then see an improvement. Even worse is the uncertainity as E&P companies expect to get rinsed based on the $50 comments from Peter Navvaro last night. This will not be good for D&C activity in the United States in the near-term. imho.