Shale Fracking Rebound Starts With Costlier Grains of Sand
- As rig count rises, servicers seek rebirth from higher prices
- Talks with explorers a ‘brawl’ as oil pricing stays uncertain
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The oilfield service companies that supply everything from sand to sophisticated robot rigs are seeking a new lease on life as America’s fracking fortunes begin to turn.
Shale drillers have added 158 rigs since May, according to Baker Hughes Inc. At the same time, companies such as Chesapeake Energy Corp. and EOG Resources Inc. have been increasing their efficiency by cramming more and more sand into individual wells, aiming to extend their reach miles further. That’s boosted sand prices roughly 25 percent to about $24 a ton, according to IHS Inc.