Race Is On to Frack Shale Fields Before Costs Jump in 2022
- Explorers added 10 completion crews over past few weeks: Lium
- U.S. oil-drilling rigs rose by 6 this week, Baker Hughes says
A pumpjack operates near a drill rig standing over an oil well in the Permian Basin near Midland, Texas.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Explorers are racing to get frack jobs done in the Permian Basin and other U.S. shale-oil fields before higher prices kick in next year, according to research and analysis firm Lium LLC.
The number of hydraulic-fracturing crews deployed across the U.S. shale patch jumped by 10 in recent weeks to 230, Lium analysts said in a note titled “Permianflation” on Friday. A crew typically consists of 25 to 30 workers who operate a huge array of truck-mounted pumps, storage tanks for fluids and sand, hoses, gauges and safety gear.