Service & Supply | Top Story | Oilfield Services | Frac Markets - Pressure Pumping
Pressure Pumper to Close Rockies Operation; Retire Frac Fleets
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Yesterday RPC Inc., the parent company for Cudd Energy Services, talked about their plans for surviving the slow-down in the completion business. The company talked about various strategies it plans to employ including retiring equipment, moving out of basins and cutting staff.
During the Q&A session the company further elaborated that it plans to leave the Rockies region entirely and focus on Texas, home to the Permian, Eagle Ford and East Texas Basin (Haynesville, Cotton Valley).
Cut Frac Fleet/ Retire
Here is what Ben the CFO had to say. "
Thank you, Rick. In connection with our strategic review, we undertook an extensive operational assessment. We began closing several pressure pumping related facilities, retiring older, less capable pressure pumping equipment and reducing the…
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