Well Stimulation Services Shrink In The Bakken By 70%
Fewer than a dozen pressure pumping fleets are currently active in the Bakken Shale as many operators suspend drilling and completion activity until commodity prices recover.
Has Well Stimulation Pricing Bottomed In The Marcellus?
Winter-time natural gas demand has kept activity for Marcellus well stimulation providers steady, albeit at low levels. In the meantime, providers wait for prices to improve.
Has Well Stimulation Pricing Bottomed In The Marcellus?
Winter-time natural gas demand has kept activity for Marcellus well stimulation providers steady, albeit at low levels. In the meantime, providers wait for prices to improve.
DUC Backlog Continues To Slowly Rise
Demand for Midcontinent well stimulation services declined over the last 90 days, and are expected to decline further in 2016. Regional pressure pumping capacity is also oversupplied and underutilized.
Winter Weather, Falling Demand Wallop Greater Rockies Companies
Until commodity prices recover, service providers in the greater Rockies region are working at cash cost and scrambling to hold on. Companies insist pricing will not fall any further.
Some Operators Revert to Vertical Wells
The pace of drilling and completions in the Permian remains sluggish going into 2016. Operators are drilling fewer wells while pressuring service providers for additional cost cuts.
Capacity Drops Further In Region
Regional capacity falls 10% over the last 90 days as operators pull back completion activity and hold on in hopes of a recovery in commodity prices in 2016.
Region Needs $60 Oil Before Activity Recovers
Demand for pressure pumping services in the Bakken Shale is flat, the inventory of drilled but uncompleted wells is rising, and pricing is off 18% vs. August.
Operators Focus On Upper Marcellus
Well stimulation service providers note the upper Marcellus remains the most active market because of cost advantages. Meanwhile, activity in the lower Marcellus and Utica has slowed.
Operators Need $70 Oil To Restart Horizontal Drilling
Pressure pumpers say activity has stabilized in the Midcontinent. Unfortunately, stable demand in this instance represents demand at an exceptionally low level.