Motive has completed the acquisition of Stavanger-based Pumptech for a seven-figure sum, reflecting the ambitious growth strategy which follows significant investment earlier this year from private equity firm, EV Private Equity.
ProPetro said that while it anticipated a slight increase in next year's activity, it did not expect any uptick in profitability per frac fleet.
Provides real-time data to enhance reservoir understanding and optimize completions.
As oil and gas fields become depleted, energy companies are looking at how they can extend the life of operating fields, unlocking low-pressure reserves from reservoirs to maintain plateau production rates.
Cuadrilla began fracking at the second well at Preston New Road earlier this year, but was forced to stop in August after operations caused a 2.9 magnitude earth tremor.
While sand sales to oil and gas customers fell 1% sequentially, pricing was "significantly lower" with new mines coming online in West Texas and overcrowding the market.
Eagle Ford operators and service providers are adjusting well spacing and asset approaches to better guard against frac hits.
British shale gas explorer Cuadrilla said on Sept. 30 it would start flow testing at its second horizontal shale gas well at its site in northwest England in a few weeks, which will enable it to assess how much gas could be available.