Half of U.S. Fracking Companies Will Be Dead or Sold This Year

Half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies, an executive with Weatherford International Plc said.

There could be about 20 companies left that provide hydraulic fracturing services, Rob Fulks, pressure pumping marketing director at Weatherford, said in an interview Wednesday at the IHS CERAWeek conference in Houston. Demand for fracking, a production method that along with horizontal drilling spurred a boom in U.S. oil and natural gas output, has declined as customers leave wells uncompleted because of low prices.

Read more

Donate Volunteer Join

Connect with Us

Links

Latest California News

Officials in Oakland, California, effectively ended proposals to open a new coal export terminal by voting to ban the transport and storage of the fossil...

Oil corporations have intensified their push to make the San Francisco Bay Area and other areas of the West Coast into international hubs for refining...

In a major victory for solar power companies and their customers, California regulators voted to preserve an incentive program that has fueled the dramatic growth...

It was widely reported last week that the public relations and lobbying blitz funded by the major oil companies succeeded in toppling one of Jerry...

As Western wildfires follow the worst drought in modern history, the impacts of global warming have never been more stark. And as electric cars, LED...