Shortage Of Fracking Crews Slows The Shale Boom

26 Jul 2017   Shale Oil

The resurgence in shale drilling and production could be bumping up against some limits, with output expected to fall far short of market expectations for this year and next, according to a new study. Some of the constraints that shale companies will run into are on the access to oilfield services (OFS), including rigs, equipment and personnel, according to Kayrros, a French research firm backed by the former CEO of OFS giant Schlumberger, and reported on by the FT . Over the past three years, the oil market downturn led to sharp cutbacks in drilling and spending, with OFS companies bearing the brunt of the contraction. Oil producers demanded sharply lower prices for rigs, equipment and completion services, which translated into plunging revenues for OFS companies. But the rebound is tightening that market, with backlogs for completion services reported in places like the Permian basin. Oil producers had hoped […]

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