In this report, we have downloaded November spuds and October completions, calling attention to the Permian where thewell count is STABLE and outperforming all other basins. However, firm Permian well counts are going unnoticed due to gross oversupply of oilfield service equipment caused by efficiencies & Midcon / EF spillover. Separately, we have called out EIAdata (out next week) and Texas RRC data (out last week), both of which are especially misleading around the winter months.