Darren
Barbee
Oil and Gas Investor
National Oilwell Varco Prevails In Mud Pump Spy Case
In an industrial espionage case wedged somewhere between the worlds of James Bond and Austin Powers, National Oilwell Varco LP (NOV) has won its legal battle against Mud King Products Inc.
Houston’s Mud King will pay NOV nearly $400,000 in a case involving the theft of NOV’s blueprints by the third-party parts supplier. NOV had sought nearly $7 million in damages.
E&Ps Face Opportunities, Challenges With Refracking
Refracking makes up a small percentage of the total hydraulic fracturing market, but that could change in future years.
Oilfield Service Deals Stagnate For Want Of Buyers
Potential buyers have had to cut employees, and so far few companies are going out of their way to aggressively buy frack fleets or other equipment.
Pressure Pumping Pricing Stabilizes In Marcellus
Well stimulation levels, pricing, and completion techniques have reached equilibrium in the Marcellus. With activity stabilizing, service providers think pricing could rise as activity builds back later this year.
Pressure Pumping Market Stabilizes After Challenging First Quarter
Pricing has fallen below break-even costs for contractors in the Midcontinent who expect the pressure pumping market won’t recover fully until the industry hits $70 oil.
Fracking Prices Level Out In Dry Gas Basins
Pricing appears to have bottomed for well stimulation services in the traditional dry gas shales, including the Barnett, Haynesville and dry Woodford.
Field Of Dreams
Smaller E&Ps, as well as large, are leveraging technical expertise.
Pressure Pumping Services Downturn In Full Bloom
Up to half of well stimulation capacity is idled in the Permian Basin as operators postpone completions on up to half of wells drilled.
Well Stimulation Pricing Falls 31%
Per stage pricing in the Eagle Ford Shale dropped to $69,000 during the first quarter of 2015, but may be stabilizing. Operators are postponing completions while well stimulation equipment continues to stack out with estimated utilization in the play at a little more than 50% of the regional fleet.
Pressure Pumpers Idle Equipment As Pricing Falls To Cash Costs
Well stimulation contractors are now at cash cost and stacking out equipment or letting crews go. Pricing per stage is down more than 30% to $58,000 versus the 4th quarter 2014.