E&Ps Push Spending Through YE

We digested E&P spending guidance for the remainder of 2017, downloaded October spud data, and compared EBITDA per fleet across the industry. The key takeaway has been a renewed inclination for customers to spend that could lead to frac shortages by early 2018. Meanwhile, EBITDA per fleet is still underwhelming, suggesting a re-accleration in frac prices is needed to encourage new builds.

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