Continental Resources CEO Doug Lawler was the first of the major oil patch players to mention in early April that "Continental is increasing our capital budget, which will increase production."
Now, another giant of the oil patch, Halliburton, a major supplier of the gear, crews, and services that keep drilling and fracking going, reports new signs of life in oilfield activity across North America.
"While these calls are not for committed crews, they do suggest incremental demand is building in spot markets with smaller operators. This is the leading edge of capacity tightening. While we are in the early innings, in my view the setup for North America is constructive. Premium equipment is already tightening," Halliburton CEO Jeff Miller told investors in the company's first-quarter earnings statement earlier today.