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...