- Tight Gas & Oil
- Gas Hydrates
Contractors report attrition of lower spec rigs is real and will reduce the size of the region’s working fleet. Average rates for the benchmark 1,500 HP Tier I unit fell below $20,000, but range from $18,500 to $22,000.
All respondents reported slickwater dominates their fracking practices now as a cost savings measure, but many operators continue to use hybrid systems as well.
Unlike some other regions, there are no indications yet that incremental demand for workover services in the Rockies is improving. In short, things aren’t getting any worse for Rockies well service companies, but they aren’t getting any better.