The US Upstream Cementing Market Feels the Full Force of the Effects of COVID-19
The cementing services market size in the US is expected to drop 50% year-on-year from 2019. The significant drop in Permian Basin activity will account for 40% of the total market size reduction.
E&P Spending Cuts Spur Requests for Reduced OFS Fees
The shale industry could shoulder 65% of $100-billion 2020 global E&P spending cut. Can oilfield services providers afford to cut their fees further to prop up hard-hit operators?
Oil Price Crash Triggers Decisions To Slow Drilling
The prescribed treatment for market- and virus-induced oil price collapse is to quickly slow production growth. Two US shale companies moved swiftly to cut the pace of drilling and completions, but it is too soon to know if that will have any impact.
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14 September 2020
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09 September 2020