U.S. Fracking Shrinks by 25% in 2H2018

Shailaja A. Lakshmi
Sunday, February 24, 2019

The new median estimate for nationwide fracking activity in December 2018 suggests 36 frac jobs per day, said a research.

The energy research and business intelligence company Rystad Energy revealed in a study that 25% contraction in fracking activity between the peak in May-August 2018 and the end of the last year.

It should be noted that in both November and December 2018 fracking activity level exhibits negative year-over-year change, it said.

"There is no doubt that significant part of this decline was driven by seasonal weather and capital constraint factors," the study said.

"Yet we keep hearing about somewhat disappointing pace of post-winter recovery. Essentially, service providers largely agree with the fact that recovery is happening now, but the pace of this recovery is slower than what we usually observe," it added.

Lower oil price environment along with focus on capital discipline coming from public pure-shale E&Ps is the main explanation behind moderation in activity level.

Categories: Shale Oil & Gas Shale Research

Related Stories

Oil Surges to Four-Week High as US-Iran Trade Blows

Tetragon Energy Advances Oil and Gas Exploration Activities off Philippines

Arabian Drilling Set to Resume Ops with Three Offshore Rigs

Eni and Petronas JV Extend Ventura Offshore’s Drilling Job in Indonesia

Dolphin Drilling’s Blackford Dolphin Secures More Work for Oil India

Offshore Vessel Pair Ordered from Grandweld Shipyard

ADNOC, XRG and Mitsui Broaden Energy Cooperation

Ruwais LNG Commitments Top 90% Capacity with New INPEX Deal

Oil Climbs on US-Iran Deal Uncertainty

Markets: Oil Majors Reload Exploration Hoppers Across Sub-Saharan Africa

Current News

Searah Malaysia Starts Upstream Oil and Gas Operations

Inpex Starts Construction of Indonesia's Abadi LNG Project

Hormuz Crossings Decline as US Renews Iran Blockade

Oil Rises 2% as Middle East Hostilities Escalate

Sunda Energy Applies for Exploration Permit Offshore New Zealand

Unity Enters Asia-Pacific Market with Malaysia P&A Work

Oil Surges to Four-Week High as US-Iran Trade Blows

Velesto Terminates NAGA 3 Jack-Up Rig Sale to Indonesian Firm

Noble Gets $136M Brunei Drillship Job

James Fisher, Aquaterra Launch Global Decommissioning Partnership

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com