The rock you’ve got isn’t changing. It is what it is. But completion technology changes and continues to change to adapt.
Loss of value doesn’t mean the end of an industry. Just take a look at the late-1990s tech bubble. Nasdaq lost 75% of its value, but the number of internet users tripled.
As completions declined in 2020, so went demand for frac water. But wells that were still online didn’t stop producing it. Here’s the latest on H2O availability, recycling and disposal as operators begin to ramp back up.