A new report by Jefferies focuses on the oil services and equipment space. Of the hundreds of metrics used to assess the oil industry, Jefferies analyst Brad Handler focuses on what the latest frac proppant data says about the current state of the oil services industry and the latest shifts in market share among leading companies.

The Numbers

A proppant, typically sand, is the solid material that frackers use to keep fractures open. According to the Jefferies report, the most recent reliable proppant per well numbers from the month of March indicate a 14 percent increase since October of 2014.

Jefferies sees three major drivers behind the increase in proppant per well:

• 1. An increasing proppant intensity for horizontal wells
• 2. A continuing mix shift from vertical wells to horizontal wells
• 3. An increasing focus on the most productive and efficient wells

Market Share Shifts

Jefferies uses…

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