Gardner Denver High Pressure Solutions has launched on April 14 its new, next-generation, cost-efficient fluid end: the Gardner Denver VX Hydraulic Fracturing Pump Fluid End (VX).
U.S. Well Services Inc. has executed a long-term contract on April 8 to provide electric hydraulic fracturing services for EQT Corp. using its next-generation Clean Fleet technology.
ProPetro Holding Corp. said on April 9 it will reduce compensation at different levels by up to 20%, the latest oilfield services provider looking to rein in costs to weather a steep drop in oil prices.
Liberty Oilfield Services is cutting its workforce by 7%, while NCS Multistage plans to plans to reduce its workforce by 20%, the oilfield service companies said April 2.
An estimated 31 hydraulic fracturing fleets, or 11% of those currently operating, were turned off in the last week, according to data from consultancy Primary Vision.
Oilfield services provider Schlumberger on March 31 said it will implement widespread salary and job cuts as it grapples with a sharp decline in revenue from the oil price collapse.
U.S. Silica Holdings Inc. on March 24 revealed annualized SG&A cost reductions of approximately $20 million in response to the recent drop in oil prices and the expected decline in drilling and completion activity in North American shale over the coming quarters.
FTS International Inc. said March 23 that it is taking several actions in response to unprecedented conditions in the oil market.
ProPetro disclosed Dale Redman, co-founder and former CEO, had violated its insider trading policies over shares pledged for personal loans, which led the company to submit false statements to the SEC.