The technology, called electric fracking and powered by natural gas from EOG’s own wells instead of costly diesel fuel, shows how shale producers keep finding new ways to cut costs in the face of pressures to improve their returns.
Hicor Technologies has changed its name to Reach Production Solutions, the company said on Sept. 9.
Oilfield services provider Patterson-UTI on Sept. 3 said it had no plans to invest in electric hydraulic fracturing fleets, pointing to the high cost of building equipment and the oversupplied pressure pumping market.
ATCE brings thousands of E&P professionals together, features more than 300 technical presentations and offers 80-plus conference sessions.
Analysts with Tudor, Pickering, Holt & Co. noted the sale of Quintana’s legacy conventional pressure pumping operations was a small deal but that it also highlighted a “prodigious valuation upside.”
Certarus Ltd. has entered into a flare gas capture and compressed natural gas supply agreement on Aug. 19 with a multinational American energy supermajor to service its electric hydraulic fracturing operations in the Delaware and Midland basins.
Dual fuel operations deliver millions in saved diesel fuel costs.
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.