U.S. Stage Counts at Record High

We have rounded out 2Q stage counts & efficiency data, while also comparing industry data to OFS earnings reports this week. The key takeaway has been another surprising jump in efficiency over the last few months, leading to record high stage counts, utilization, and EBITDA beats for several top-tier providers (offsetting lower-than-expected prices). However, EBITDA beats will be harder to come by, going forward, as spending slows and efficiency continues to crush fleet demand and pricing.

For access to the full report visit: https://corasresearch.com/reports/

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