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California Hydraulic Fracturing – Unique geology means less water

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Fracking in California, where unique geology means the practice uses less water and energy than it does in the Midwest, South and East Coast.

Records show all 213 frack jobs approved between January 1 and June 28 were to take place in western Kern. Those permits were given to just three companies: Bakersfield-based Aera Energy LLC (163 permits), Bakersfield-based Berry Petroleum Co. LLC (41) and Chatsworth-based California Resources Corp. (9).

Their combined total is roughly the same number of frac jobs approved during all of 2018 – https://www.bakersfield.com

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OilField

Layoffs – ProPetro cuts almost 150 workers

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According to Reuters workers at ProPetro are on the chopping block and more could follow if crude oil prices don’t stabilize. Crude prices have been heading downward and have shown no signs of recovering. Traders have blamed Trump’s trade war with China and the slowing world economy.

ProPetro Holding Corp (PUMP.N) this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling.

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Economics

The last oilfield slump contributed in electing President Donald Trump

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The last slump in oil and gas drilling contributed to the mid-cycle economic slowdown in 2015/16, which helped fuel the political discontent that resulted in the election of populist President Donald Trump to the White House. – oilfieldforums.com

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