June 2, 2020 / 1:57 PM / a month ago

Oilfield firm ProPetro estimates 20 frac fleets running in Permian

June 2 (Reuters) - Oilfield firm ProPetro Holding Corp on Tuesday said there are 20 hydraulic fracturing fleets running in the Permian Basin shale field, marking a sharp decline as oil prices have collapsed to around $36 a barrel.

A year ago, as many as 172 fleets were running in the largest U.S. oilfield, according to data from consultancy Primary Vision. Oil and gas companies have cut spending and production as prices collapsed following the COVID-19 pandemic and a short-lived price war between major producers that led to a global oil glut. (Reporting by Liz Hampton Editing by Chizu Nomiyama)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below