Topic: Frac Market

Delaware, Eagle Ford, Bakken, and SCOOP New Well Highlights

Tidal Petroleum Uses 7.5 Million Pounds of Frac Sand and 2459 bbls HCL Acid (2018-08-13) An Eagle Ford well was completed by Tidal Petroleum in Karnes, Texas. The Moy South 1H produced 24-hour IP rates of 2644 bbl of oil, 1,584 MMcf of gas, and 216 bbl of water along the 3,546 lateral. Enterprise Products is the gatherer for crude, condensate, and gas for the pad. Tidal Petroleum reported flowing tubing pressures of 4900 PSI and a 22/64 choke size. Discovery Natural...

Read More
Marcellus Longer Laterals

Super Laterals Trending in the US Northeast

Operators across the Lower 48 are continuously enhancing their drilling and completion techniques to extract the most out of any given well. While lateral length trends vary in each basin, operators in the Marcellus and Utica in the US Northeast are testing some of the longest laterals in the country—beyond 20,000’ in some cases—and are showing no signals of slowdown. Operators in the Marcellus and Utica are drilling 9,035-foot average laterals in 2017. Year-to-date in 2018, the average lateral length...

Read More

Mammoth Reports Growth in Pressure Pumping, Frac Sand Production, Directional Drilling

On May 3, 2017, Mammoth Energy Service, Inc. (NASDAQ: TUSK) hosted its quarterly earnings call to report results from Q1’17. Highlights included a dramatic increase in YOY pressure pumping activity, progress on two key frac sand production facility acquisitions, and growth in the company’s directional drilling fleets.Mammoth reported Q1 spending of about $31 million, most of which is tied to delivery of 75,000 HHP and associated equipment ordered in November 2016. Other factors includeAcquisition of three high-pressure fleets totaling...

Read More

Patterson-UTI Increases Average Rig Count, Moves Closer to Merger

On February 9, 2017, Patterson-UTI Energy, Inc. (NASDAQ: PTEN) reported financial results for the three months and twelve months ended December 31, 2016.In the fourth quarter of 2016, Patterson’s average rig count in the United States increased by six to a total of 66 rigs. As a result of the decrease in the proportion of rigs on standby, total average rig operating costs per day during Q4’16 increased to $13,770, compared to the previous quarter of $13,180. Without the decrease...

Read More

Larger Volumes and Integrated Operations Key for Frac Sand Suppliers

The U.S. frac sand market has heated up in 2016 even with depressed oil prices. Many operators have increased proppant intensities in their frac designs and are testing upwards of 5,000 pounds per lateral foot while increasing the size of their laterals. Some of the these operators are Devon Energy (NYSE: DVN) and Chesapeake Energy (NYSE: CHK) who have tested in the SCOOP and Haynesville. Horizontal wells in the Permian basin average 7,500 foot laterals and 11 million pounds of proppant...

Read More

Halliburton Acquires Baker Hughes for Integrated Platform or Pricing Protection

Halliburton (NYSE:HAL) acquired Baker Hughes (NYSE:BHI) creating an $80bn oilfield service company second only to Schlumberger (NYSE:SLB) in market capitalization. Market Share Impact We took a look at our Frac & Proppant Database this morning to get some insight on the market share of the companies. We estimate that the combined company would represent an approximate 40% share of the Frac Market with varying share mixes in different basins/regions.There are several areas where one company is significantly stronger than the other (Williston, Eagle...

Read More