Insights by Joseph Gyure, Editor, Enverus Intelligence®

U.S. drilling day rates took a tumble in 2024, finishing the year lower than they began for the first time since the COVID-19 pandemic. The Enverus Day Rate Survey’s U.S. composite day rate declined for the 11th consecutive month to...

In a market with tight demand, frackers are deciding the diminished returns they can command for Tier II diesel-only equipment are not worth the maintenance.

Insurance companies are largely backing away from fossil fuel investments, but two major exceptions, Berkshire Hathaway and State Farm, have reportedly increased their holdings so much that they skewed the entire sector’s results.

The U.S. composite day rate slipped just $2 lower in July to $22,921, according to the Enverus Day Rate Survey. While the miniscule decline was a dramatic change from June’s $308 plummet, an immediate recovery seems unlikely, as drillers surveyed...

Pressure pumping companies are expanding their dual-fuel and electric frac fleets, reporting continued high demand for this next-generation equipment. While lead fracking contractors have tried to keep horsepower steady by deactivating fleets powered by Tier 2 diesel engines, RPC Inc.,...

Helmerich & Payne Inc. reached a definitive agreement to acquire Aberdeen-based KCA Deutag International Ltd. for $1.9725 billion cash, dramatically accelerating its international expansion.