Service & Supply | Oilfield Services
Pressure Pumper Moving Fleets from Permian to Other Basins
Print
|
Contract driller and pressure pumper, Basic Energy provided some interesting activity update for 2Q.
The company CEO, Roe Patterson said: "In our completion and remedial services segment, both the frac and coiled tubing businesses continue to face competitive pressures while the snubbing and rental businesses saw improved sequential results from the first quarter driven by higher pricing and utilization during the second quarter.
"Utilization for our frac equipment remained choppy through the second quarter, and pricing remains very competitive, especially in the Permian as most of the new horsepower in the industry is showing up there."
The company talked did mention that other markets are fairing better.
"However, in our Mid-Con frac market, which ranges from Kansas through Oklahoma to…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Frac Markets News
Large E&P Adds Second Completions Crew and Accelerates 4-Mile Lateral Program
Chord Energy extended its 2025 execution streak in 3Q25, delivering oil volumes above the midpoint of guidance while keeping E&P and other capital spending below the midpoint. The…
Liberty Energy: Navigating the Frac Downturn with Efficiency, Innovation, and Strategic Focus
As the U.S. completions market enters a slower second half of 2025, Liberty Energy is writing its own chapter—one of resiliency, technical evolution, and bold repositioning. While many…
Halliburton Warns of Deepening U.S. Frac Slowdown
Halliburton's Q2 earnings call confirmed what we said in our recent Intel-Bits report: the back half of 2025 is shaping up to be significantly weaker than expected, particularly…
Intel Bits : E&P Operators Cut Frac Crews/ Rigs For Remainder of 2025; A Detailed Look
As the dust settles from Q1 2025 earnings season, a clear narrative has emerged across the U.S. upstream sector: a deliberate and widespread slowdown in drilling and completion…
Liberty Energy Reducing Frac Fleets As Market Activity Slows; Talks 2025
Liberty Energy, much like Patterson UTI said they are reducting fleet count amidst a slowing on frac activity. During the most recent earnings call the company said.. Cutting…
Mid-Continent News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Apa Corp : Doing More With Less
APA's 2025 narrative was one of operational surprise. The company came in beating production guidance every single quarter while spending below plan, capturing over $300MM in cost savings…
Permian News
Permian Resources to Grow Production 6% in 2026
Permian Resources exited 2025 as the largest pure-play Delaware Basin operator with ~480,000 net acres and >105,000 net royalty acres. The company averaged 392.6 MBoe/d in 2025, including…
Battalion Oil Closes ~$60M West Quito Draw Asset Sale
Battalion Oil Corporation has closed the sale of its West Quito Draw assets in the Southern Delaware Basin to MCM Delaware Resources LLC, a subsidiary of MCM Energy…
Deal Rumor: ConocoPhillips Exploring $2B Permian Asset Sale
ConocoPhillips is reportedly exploring the potential sale of certain Permian Basin assets in a transaction valued at approximately $2 billion, according to Reuters, citing sources familiar with the…
This Operator Will Chop it's 2026 Rig Count From 34 to 24
ConocoPhillips is setting up 2026 as a lower-intensity, more efficient operating year — with the clearest proof coming from the Lower 48 activity reset following the Marathon integration.…
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…