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U.S. day rates flat but surveyed drillers downplay prospects
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 in July were much more likely than June respondents to see stagnating rig demand. Roughly […]
As frac upgrades swoop in, some see potential pricing pressure
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., the owner of Cudd Pressure Pumping, noted in its July 25 earnings call that the […]
H&P goes global, agreeing to buy KCA Deutag for nearly $2B
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.
Navigating the Depths: Unlocking Canadian Wells With Stage-by-Stage Insights
In the pursuit of capital efficiency, operators strive to continually improve drilling and completion performance, especially in the challenging landscapes of Canada’s unconventional plays.
SLB taking home the prize in $8.2B ChampionX acquisition
In the biggest oilfield services transaction since 2016, SLB agreed to acquire ChampionX Corp. for $7.76 billion in stock, bringing an industry leader in production chemicals into the OFS giant’s fold. ChampionX’s $420 million in net debt brings the transaction to an $8.18 billion enterprise value.
Who really means it when they permit a well in the Permian?
Permitting information for oil and gas wells is one of the most readily available and least lagged pieces of data on industry activity, but it is often seen as a poor indicator of future drilling activity.
OFS providers bask in bright outlook for activity outside U.S.
About Enverus Intelligence Publications
Enverus Intelligence Publications presents the news as it happens with impactful, concise articles, cutting through the clutter to deliver timely perspectives and insights on various topics from writers who provide deep context to the energy sector.
OFS firms hope Haynesville rebound won’t wait for LNG wave
While the Haynesville has been responsible for much of 2023’s woes for U.S. oilfield services contractors, they appear convinced that the worst is over. Still, no one expects a full rebound until new LNG export capacity on the U.S. Gulf Coast comes online. The Ark-La-Tex active rig count was over 80 for most of 2H22 […]
Identifying key growth opportunities with international oilfield data
In the oilfield services space, not every company is well equipped for international growth. There’s a distinct risk profile that comes with working overseas. Commercial risk, compliance, geopolitical issues, logistics… it requires additional resources and investment to do properly. To add another layer of complexity, companies often have poor visibility into the future and find […]