US fracking’s glory days may be over as equipment stands idle
About 2.2-million horsepower, or roughly 10% of industry capacity, has already been earmarked for the scrap heap
30 October 2019 - 16:49
Houston — The downturn in shale drilling has been so steep and brisk that oilfield companies are taking the unprecedented step of scrapping entire fleets of fracking gear.
With almost half of US fracking firepower expected to be sitting idle within weeks, shale specialists including Patterson-UTI Energy and RPC are retiring truck-mounted pumping units and other equipment used to shatter oil-soaked shale rock. Whereas in previous market slumps frackers parked unused equipment to await a revival in demand, this time it’s different: gear is being stripped down for parts or sold for scrap...
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