Hydraulic Fracturing Content Feed

As operators feel the pinch of low oil prices, so, too, do their service providers.

Though they have been a niche ever since their introduction to the market a few years ago, e-fleets are proving to be some of the most downturn-proof assets in the shale sector.

The cementing services market size in the US is expected to drop 50% year-on-year from 2019. The significant drop in Permian Basin activity will account for 40% of the total market size reduction.

Faster drilling speeds have become one of the major obsessions of the shale sector in recent years. But since completions represent up to 70% of a new well’s cost, maybe this side of the business needs more attention now.

The room for error and cost overruns just got a lot smaller with the escalating need to make operations more efficient and leaner with fewer resources and investors continuing to prioritize ESG alongside profitability.

While many shale producers are racing to cut costs by removing crews from the field, ExxonMobil and Chevron stood out as maintaining large numbers of fracturing crews.

When engineers went searching for clues on how fractures move beneath the surface, they expected to uncover important learnings. They did not know they were on the path to a new invention.

Shale producers are pulling completions crews out of the field to respond to the recent price crash, but the contraction has only begun.

The ruling comes after a 4-year legal battle between Winona County commissioners and Minnesota Sands, a local company that claimed the 2016 ban was an unconstitutional limitation on interstate commerce and amounted to the government taking its property without compensation.

Led by Texas and New Mexico, year-over-year crude output jumped by 11% according to the US Energy Information Administration. Going forward, new records will be set but at a slower pace.