In the latest trends, we have focused on drilling activity in the Permian, where E&Ps have been able to spud more wells while still cutting the rig count.  Better efficiency (more wells w/ fewer rigs) has been the key driver, particularly among the Majors (XOM, CVX) who have historically been very slow. Putting together with the elevated DUC count, Permian frac fleet demand could be resilient (ie not decline as much) in spite of continued deterioration in the rig count.