Pressure pumper Liberty Oilfield Services Inc. will wait to deploy its newest hydraulic fracturing fleet until market conditions improve, CEO Chris Wright said at a conference in Denver on Aug. 12.
The Denver-based company is currently running 23 pressure pumping fleets and has taken delivery of a 24th. However, the market remains soft amid an oversupply of equipment, Wright said, prompting his company to hold off on deployment.
Oilfield service companies raced to build hydraulic fracturing fleets in recent years on hopes that producers would work through a backlog of drilled-but-uncompleted (DUCs) wells.
However, the number of U.S. DUCs hit record levels this year as oil prices fell and investors pressured operators to tighten spending. In June, there were an estimated 8,248 uncompleted wells, according to the U.S. Energy Information Administration, up roughly 19% from a year ago.
Lean duplex stainless steel can serve as an alternative to hot-dipped galvanized steel for walkway gratings.
Eagle Ford operators and service providers are adjusting well spacing and asset approaches to better guard against frac hits.
With the addition of PDH 2 to its portfolio, S & B will employ more than 3,500 EPC professionals on its projects for Enterprise Products Partners.