Frac sand '16: More consolidation ahead

Published: Wednesday, 14 September 2016

The wave of restructuring and bankruptcies seen in the US fracking sector since the decline in the oil market is not over, according to John Daniels, director of Simmons and Company.

Sustained weak oil prices combined with negative margins and significant financial leverage mean the market conditions within the oilfield services sector have and continue to be oppressive, Simmons and Company director John Daniels told delegates at IM’s Frac Sand conference in Minneapolis, US.

With oil prices still set to...

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