The oilfield services sector in the Permian Basin could be getting action-packed. Hydraulic fracturing operations appear to be ramping up in the Permian Basin, suggesting that the region’s oilfield services sector is regaining strength after suffering a dip in activity in recent months. “Operators have gone from full-go planning mode in December to slowing things down since pricing took a dive over the holidays,” said Matt Johnson, Principal with Los Angeles-based Primary Vision, Inc. “A combination of improved crude pricing, global supply and demand and favorable pressure pumper contracts may be just the three-pointer that operators need to make spring/summer action-packed.” Through its “Primary Vision Frac Spread Count,” Johnson’s firm gauges the health of the upstream oil and gas industry through the lens of hydraulic fracturing activity. The indicator hinges on frac spreads, or frac fleets, which comprise the equipment that a pressure pumper – an oilfield service company […]