Falling US oil well completions hit frac sand companies
Published: Monday, 29 October 2018
The number of drilled but uncompleted wells in the Permian Basin is at a record high, which means bad news for companies selling frac sand.
Sand companies are taking notice of
falling oil well completion rates, which is affecting demand
for frac sand in the United States.
According to the Baker Hughes' weekly rig count, the number
of active drilling rigs in the Permian eased back by 1 to 489
on October 29, after hitting its...