- Tight Gas & Oil
- Gas Hydrates
The news comes on the heels of an anemic first quarter in which permits applications dropped 32% and gas play applications fell by 35%.
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.