Service & Supply | Top Story | Oilfield Services
What to Expect From Frac Activity in 2H'23 & 2024
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(25 – 30) frac fleets drop in last 6 months.
Expecting some pull-forward of completion activity.
Don’t expect Nat Gas market to improve until 2024.
“Frac activity is expected to stabilize but with somewhat quarterly lag to the rig activity ahead of a more constructive outlook for oil and gas markets in 2024. As we look at the second half, we may reduce active fleet count by between 1 to 3 fleets if activity slows further, consolidating our planned activity with our highly efficient fleets and thereby improving fleet utilization.”
Saw reduced activity..
Frac markets in North America are at a steady, healthy activity levels after moderating a bit from late 2022 as commodity prices retreated from the 2022 peak. Crude oil prices are now at pre-Russia-Ukraine war levels, which…
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