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Consolidation In The Pressure Pumping Secture

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Having a quite-fleet might not be enough to survive in the ever-volatile pressure pumping sector. As the fracking companies push for more economically viable frac spreads, the competition is getting fierce. so seeing mergers in the pressure pumping industry is expected, as more companies try to focus on new technology and make their companies viable in the “New oilfield” sector.

That brings us to the Two Houston oilfield services companies that said would merge in an all-stock deal valued at about $2 billion.

“The merger of equals unites two great companies, resulting in a broader portfolio of well completion services across an even greater footprint in the U.S., benefiting our combined employees, shareholders, customers, suppliers, and the communities in which we operate,” Keane CEO Robert Drummond said in the statement.

It’s important to note this volatility is also one of the reasons millennials don’t like to work in the oilfield.

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  1. inst

    July 25, 2019 at 11:53 pm

    Decreased demand during the downturn forced some pumpers out of business and spurred consolidation, resulting in high personnel turnover in the field. Meanwhile, exploration and production (E P) companies are drilling longer laterals faster and expecting similar efficiencies from pressure pumpers. Hoping to get the absolute most out of their wells, operators are intensifying completions by using more stages, water, and frac sand.

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Liberty Oilfield Services

More bad news for FRAC Crews And Oilfield Services Companies

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Chief Executive Chris Wright from Liberty frac

The firm has no plans to add more equipment to its fleets, Chief Executive Chris Wright told investors on an earnings call on Wednesday, adding that pricing pressures would remain until a capacity glut ends.

Denver, Colorado-based Liberty Oilfield Services operates 23 hydraulic fracturing fleets, which are used to pump water, sand and chemicals into the ground to complete shale oil wells. – liberty-oilfield-services-ceo-expects-pricing-pressure-to-continue.140/

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Oasis Petroleum

Oasis Petroleum (OAS) Reports Q3 Loss

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Oasis Petroleum (OAS) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. – oasis-petroleum-oas-reports-q3-loss-tops-revenue-estimates.138/

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