After this weeks EIA-914 report, we are dusting off our natural gas data, particularly given the severe frac cuts expected in Texas / New Mexico / Rockies and associated gas implications. Meanwhile, frac fleets in the Northeast were already in free-fall before the crisis, highlighted by the EIA reporting back-to-back production declines from PA / Ohio / WV. Altogether, our bottom-up fleet count of 180 by year end (120 fully utilized) suggests gas production will finally rollover, with 10-20 bcf/d knocked out of supply by 2021.