Heard In The Field - Bakken

Hart Energy canvasses service providers, E&P companies, and consultants weekly across the four service lines of pressure pumping, downhole completions, land drilling and well servicing, seeking information on pricing, current activity drivers, current practices, and near term outlook. Surveys rotate through the major unconventional plays on a quarterly basis.

Survey results are compiled in executive summary form with quantitative and anecdotal comments and published by service line approximately twice weekly. Unconventional coverage involves two major unconventional markets monthly in a rotation that includes the Eagle Ford, Permian Basin, Bakken, Marcellus (Appalachian Basin), the Midcontinent, and alternating coverage of the dry gas basins such as the Barnett, Haynesville, and Barnett, along with other markets such as the non-Bakken Rockies.

Efforts To Capture Acreage Sustain Some Bakken Drilling Programs

Well stimulation pricing in the Bakken Shale is shrinking, with price per stage dropping 10% over the last 90 days. Meanwhile, the market appears to be approaching a balance.

June 8, 2016

Bakken Shale Evolves To Lower Cost Slickwater Completions

Halliburton has grabbed the top spot in well stimulation and also leads the Bakken in remedial work, according to respondents to Hart Energy’s Heard In The Field survey.

June 7, 2016

Well Servicing Demand Stalls In Bakken Shale

No completion work for Bakken workover contractors this quarter though pricing has stabilized. Meanwhile, fracking crews in the area dwindle, according to Hart Energy’s Heard In The Field report.

June 3, 2016

Sentiment Improves For Bakken Drillers Despite Low Demand

Drilling contractors in the Bakken Shale are scrambling to hold onto crews in anticipation of greater demand in the second half of 2016, according to Hart Energy’s Heard In The Field survey.

June 1, 2016

Pace Of Completions Slows Again For Bakken Operators

Bakken operators face the same problems operators face everywhere: $30 oil does not work economically. Few expect for things to change until sustained oil prices rise above $50.

March 3, 2016

Hunker Down: Bakken Drillers Shut In Operations As Demand Vanishes

Contractors in the Bakken Shale say the market needs $50 oil before activity recovers. Several will await the arrival of summer to re-assess the situation.

February 26, 2016

Essential Maintenance Keeps Bakken Workover Firms Afloat

Operators in the Bakken Shale are now announcing 2016 capital spending reductions that indicate significant cutbacks in store. Meanwhile, workover contractors grapple with the implications.

February 25, 2016

Price War Underway For Services

A challenging market in the Bakken Shale sees contractors cutting wages, bundling services and pursuing routine maintenance jobs. Contractors report a job mix that is 89% routine maintenance.

November 25, 2015

Region Needs $60 Oil Before Activity Recovers

Demand for pressure pumping services in the Bakken Shale is flat, the inventory of drilled but uncompleted wells is rising, and pricing is off 18% vs. August.

November 24, 2015

Cost Saving: Operators Reduce Proppant Loading

The volume of sand use per well has dropped as Bakken operators seek additional cost savings. Average sand per well is 5 million pounds, down from 6 million pounds 90 days ago.

November 23, 2015

Rig Rates Drop As Drilling Market Softens

Regional rig utilization has fallen to 40% with little work outside the Bakken core. Several contractors said they don’t expect demand for drilling services in the region to improve until 2017.

November 20, 2015

Activity Holds Steady Despite Fears Of Sinking Demand

Though a majority of Hart Energy survey respondents said pressure pumping services has been stable in the Bakken, several noted that operators indicate they will begin postponing well completions.

August 25, 2015