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

ONGC Expands BP Partnership with Western Offshore Basin Services Contract

Walking Into the Future: ADNOC Drilling Unveils First AI-Powered Island Rig

Yinson Production Names FSO for Murphy's Lac Da Vang Project off Vietnam

Oman Opens Alternative Hormuz Lanes as Shipping Recovery Continues

Mako Offshore Field Takes Step Toward First Gas with PT PAL Contract Award

Iran War Sparks Global Rush to Build Strategic Oil Reserves

Explosion at Qatar's Ras Laffan LNG Hub Injures 54, Leaves 18 Missing

IEA Expects Gradual Hormuz Recovery, Oversupplied Market in 2027

Inpex, Unions Reach Deal to End Ichthys LNG Strike

SBM Offshore to Sell 45% Stake in Mexico-Bound FSO to NYK

Current News

Floating Nuclear: A New Offshore Energy Frontier

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

ONGC Completes 44 Offshore Rig Moves Ahead of Monsoon Season

ONGC Expands BP Partnership with Western Offshore Basin Services Contract

Walking Into the Future: ADNOC Drilling Unveils First AI-Powered Island Rig

Yinson Production Names FSO for Murphy's Lac Da Vang Project off Vietnam

Jadestone Brings First Malaysia Campaign Well Online at 3,000 bpd

Saipem to Sell Saudi Shallow-Water Drilling Business to ADES for $285M

Oman Opens Alternative Hormuz Lanes as Shipping Recovery Continues

ASCO Sets Up Shop in Qatar to Drive Middle East Expansion

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