Harrisburg, NC -- (SBWIRE) -- 10/27/2020 -- The Pressure Pumping Service Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Pressure Pumping Service Market: Halliburton, Baker Hughes, Schlumberger, FTSI, National Oil Varco, Patterson-UTI, Calfrac, Liberty Oilfield Services, RPC Inc., B.J Services.
Industry News and Developments:
Schlumberger to Contribute North American Pressure Pumping Business to Liberty
September 1, 2020 DENVER & HOUSTON—Liberty Oilfield Services Inc. (NYSE: LBRT) and Schlumberger (NYSE: SLB) announced today an agreement for the contribution of Schlumberger's onshore hydraulic fracturing business in the United States and Canada ("OneStim®"), including its pressure pumping, pumpdown perforating, and Permian frac sand businesses to Liberty, in exchange for a 37% equity interest in the combined company. The combined company will deliver best-in-class completion services for the sustainable development of unconventional resource plays in the United States and Canada land markets.
The transaction is expected to close in the fourth quarter of 2020 and is subject to Liberty stockholder approval, regulatory approvals and other customary closing conditions. Following the closing of the transaction, Liberty will offer one of the most innovative suites of completion services and technologies to operators in onshore North America. Liberty will continue to be led by its current management team.
Liberty Chairman and Chief Executive Officer Chris Wright stated, "From day one, the Liberty team has been laser focused on delivering superior returns for our customers and stockholders. The last several months have been extremely challenging for the world, the industry and the Liberty family. These times also bring opportunity. This transaction will be a transformative step forward in our journey as a company. Our expanded technology portfolio and breadth of operations will enable Liberty to further raise our already high bar for safe, innovative, efficient and ESG-conscious frac operations. I look forward to the OneStim team joining Liberty on our mission to help customers provide low-cost clean oil & gas to our country and the world."
Schlumberger, Halliburton Downsize Fracturing Services Amid Shale Sector's "Biggest Test"
22 January 2020: The world's two largest oilfield service firms are moving quickly to reduce their exposure to the slowing North American unconventional sector by laying down substantial portions of their fracturing fleets. Schlumberger and Halliburton told investors on earnings calls held in the past week not to expect a market turnaround in either the US or Canada any time soon, while playing up the importance of markets elsewhere. The companies began last year as the number one and two providers of pressure pumping services in North America; Halliburton providing 4.6 million horsepower and Schlumberger 2.6 million horsepower.
But on 17 January, Schlumberger said it had stacked half of its fracturing fleet compared with its third-quarter inventory. The shrinking US market contributed heavily to Schlumberger's loss of $10.1 billion in 2019. The year prior, Schlumberger reported an annual profit of $2.2 billion. On 21 January, Halliburton posted a $2.2 billion quarterly loss from its pressure pumping business and said it ended 2019 with a 22% reduction of its fracturing fleet. The firm's net loss for the fourth quarter was $1.7 billion.
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Halliburton's pressure pumping fleet surges past 4 million horsepower
March 6, 2018: Halliburton, already the industry's largest pressure pumper in terms of deployed horsepower, has consolidated its leading position through a massive expansion of its capacity over the past year. According to Rystad Energy's latest assessment, Halliburton has surpassed 4 million horsepower by adding roughly 700,000 horsepower since the first quarter of 2017.
Halliburton's recent additions make their fleet 1.6 million horsepower larger than their closest rival Schlumberger. The ramp-up beyond the 4 million horsepower threshold will likely come as a surprise to most of the market, as many analysts are currently reporting a fleet of around 3 million horsepower.
Rystad Energy estimates the market as a whole to have added 3.3 million horsepower during the course of 2017 and expects another 3.3 million in 2018. This comprises 1.3 million more in newbuilds and 2 million via refurbishments of non-working equipment, providing much needed relief to the tightening pressure pumping market. Among other major service providers, Schlumberger plans to add 1 million horsepower via refurbishment of the Weatherford fleet between 2017 and 2018. BJ Services is projected to finish refurbishing 2.2 million horsepower by the third quarter of 2018, although this fleet is unlikely to run at full efficiency due to the urgent need to train new crews. Pro Frac has purchased more than 500,000 horsepower worth of engines and transmissions that it expects to convert into frac capacity by the end of 2018.
Key Market Trends
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Pressure Pumping Service Market By Application (Hydraulic Fracturing, Cementing, Others) and Well Type (Horizontal, Vertical, Directional). The global pressure pumping service market report has been analysed by Region (North America, South America, Asia Pacific, ROW) and by Country (U.S, Canada, Mexico, Argentina, Brazil, China, Australia, Russia, Saudi Arabia, Algeria).
Influence Of The Pressure Pumping Service Market Report:
-Comprehensive assessment of all opportunities and risk in the Pressure Pumping Service market.
- Pressure Pumping Service market recent innovations and major events.
-A detailed study of business strategies for growth of the Pressure Pumping Service market-leading players.
-Conclusive study about the growth plot of Pressure Pumping Service market for forthcoming years.
-In-depth understanding of Pressure Pumping Service market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Pressure Pumping Service market.
The report has 150 tables and figures browse the report description and TOC:
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The Pressure Pumping Service Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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