Harvey's Floods Could Delay 10% of U.S. Fracking: Analyst
- Eagle Ford Shale in South Texas one of nation’s busiest fields
- Fracking activity expected to be delayed by a week or more
Has Gasoline Peaked Post Hurricane Harvey?
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As much as 10 percent of U.S. fracking work could be delayed after Hurricane Harvey ripped through southeast Texas, soaking thousands of miles of dirt roads snaking through one of the nation’s busiest oilfields.
More than half of the rigs running in Texas’ Eagle Ford Shale are estimated to have suspended drilling because of the storm, Marshall Adkins, an analyst at Raymond James & Associates Inc., wrote Thursday in a note to clients. The muddy conditions left in Harvey’s wake will hinder the fracking sector that has consistently lagged speedier drilling crews.