Coras Mock Data 2020: Picking the winners
We have put together a Mock Data Packet for Q4 2020 that envisions a much more rosy (but very possible) frac world. In this Mock Data, we have consolidated the market into 7 major frac providers that could hypothetically control 85% of the market by the end of 2020 (top 4 could make up 65%). The key assumption in our Mock Data Packet is that 390-400 frac fleets will be needed in Q4 2020 (vs 410 in Q2 2019) to maintain modest growth in US production. We also assume (and think likely) that the near-term frac market gets sufficiently bad to prod further consolidation through the remainder of 2019 / early 2020. Winners in this group include FRAC, CJ, PTEN, PUMP, USWS, and LBRT. Providers that could be more challenged include HAL, FTSI, SLB, RES and privates.
For access to the full report visit: https://corasresearch.com/reports/