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Superior Energy, NOV Cut Jobs as Frac Fleets/Spreads Fall
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Two service providers have announced further jobs cuts in reponse to the lull in industry activity. This is in addition to the cuts announced this week by Halliburton.
The job cuts have been reported by Superior Energy Services and National Oilwell Varco.
NOV has closed its Galena Park office outside Houston and reported 85 layoffs as a result of the closure, according to a report by The Houston Chronicle.
Additionally, the Dallas Morning News has reported that Superior Energy Services cut 112 jobs at its Permian "Pumpco" unit.
The frac market has taken a hit according to Shale Experts Frac Database. We have seen fleet reduction to the tune of 24% year to date. Current active/working fleets as of 12/4/2019 was 332 vs 437 as of 1/1/2019.
Learn more about Shale Experts Frac Database
Frac Fleets by Basin
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Job Cuts / Downsize / Layoff
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