Resilient Holiday Data

In this report, we have gathered OFS data that was filed over the holidays, noting several resilient datapoints (in-spite of tumbling oil prices). Specifically, the number of completion filings has remained stable in recent weeks while the horizontal rig count ended 2018 at the highest level since 2015. With that said, strong OFS data immediately following a big commodity sell-off is not atypical (YE 2014 example) with much more precipitous cuts likely in the coming months.

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