In its latest analysis of the US onshore sector, consulting and market research firm Rystad Energy said that the recent 55% drop in annual spending by shale producers has accelerated a major transformation of the pressure-pumping business.
It is to become a more efficient business, however, margins will be ever tighter as pressure-pumping firms compete for smaller slices of a shrunken market. Among Rystad’s key projections is that active pressure-pumping fleets in the US will remain at historically low numbers for at least the next 3 years and possibly longer.
“There’s been a structural shift down in demand,” said Thomas Jacob, a vice president with Rystad. Speaking during the 2020 Unconventional Resources Technology Conference (URTeC) that was held online for the first time ever, Jacob emphasized that to see the bigger picture one needs to look beyond today’s low oil prices.
https://pubs.spe.org/en/jpt/jpt-article-detail/?art=7411
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