Topic: Pressure Pumpers

Pressure Pumpers Fall Prey to Efficiency

Completion efficiencies in the Marcellus/Utica formations of the US Northeast have changed the perception of the mature gas basin. The implementation of longer laterals and increased proppant loading intensity have lowered production costs and raised production. However, pressure pumpers in the Appalachia are expecting a slow-down in the back half of 2018 due to operators reaching production targets sooner than expected given increased operational efficiencies.Recent data shows a 9% decline in Marcellus fleet utilization. In June, utilization totaled approximately 93%...

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Schlumberger-Weatherford JV Could Challenge Halliburton

On March 24, 2017, Weatherford and Schlumberger announced a proposed joint venture to deliver completions products and services for the development of unconventional plays in the United States and Canada. Going by the name OneStim, the venture will boast one of the largest hydraulic fracturing fleets in the industry, possibly rivaling that of Halliburton.Schlumberger’s hydraulic fracturing fleet currently has 2 million horsepower and Weatherford’s is estimated at 800,000-1 million HHP. The combined horsepower as OneStim exceeds BJ Services’ 1.9 million...

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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...

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