Drilling rates fall further in the Permian
Published: Monday, 08 July 2019
Drilling rates continue to slow in the Permian basin in the United States, but fracking is even slower. This is bad news for frac sand sellers in the short term, but leaves a backlog of unfracked wells, which will need sand in the future.
The number of active drilling rigs in the Permian basin is
now at its lowest level since March 2018, at 439, down from 487
at the start of the year, according to data from oilfield
services company Baker Hughes.
But even the slower pace of drilling is too much for...