Primary Vision

This week’s Monday Macro View asks a question the market cannot answer with rigs alone.

Frac spreads, frac jobs, and rig count are all moving higher, but the more important story may be happening inside completions. The key question is not simply whether rigs are coming back. It is whether completions are keeping pace.

Read the full report!
https://efracs.primaryvision.co/landing/

[Frac Spread Count, Frac Job Count, rig count, U.S. completions, hydraulic fracturing, frac activity, oilfield services, pressure pumping, DUC inventory, U.S. shale, Permian Basin, Eagle Ford, Haynesville, Appalachia, production outlook, completion activity, crude prices, oil market analysis, Primary Vision, Monday Macro View]

This week's Frac Spread Count and Frac Job Count data is now LIVE!

The latest numbers are available on our site current spread deployments, job completions, basin-level breakdowns, and week-over-week movement.
If you're tracking U.S. completions activity, this is the weekly update that tells you what's actually happening in the field.

Access the data:
https://efracs.primaryvision.co/landing/

Frac Spread Count is back at 200.
But the bigger signal may be hiding outside the Permian Basin.

The active spreads and actual completion jobs are moving together.
The interesting part? It isn’t only the Permian that is driving the growth .

That suggests the latest gain in U.S. frac activity is being carried by gas leaning and mixed basins, not by a broad oil directed recovery. At WTI near $71 to $73, shale operators are still showing capital discipline, even as field activity edges higher.

The physical crude market is sending another message. U.S. crude inventories are drawing, refinery utilization is high, distillate stocks remain below seasonal norms, and crack spreads are firm even as the futures curve points to caution.

So the question is simple:

Is the market underpricing physical tightness, or is demand destruction from the Hormuz shock still the bigger story for oil prices?

Read the full article by Primary Vision.
https://efracs.primaryvision.co/landing/

Rig counts are not just numbers.
They are signals of confidence, caution, and capital discipline.

Primary Vision was featured on Discovery Alert for the latest U.S. oil and gas rig count update, tracking where upstream activity stands and what it may suggest for the next phase of supply.

https://efracs.primaryvision.co/landing/