At this point in the cycle, what every US shale market observer wants to know is when that big wave of newbuild pressure pumping equipment orders is going to hit. Pricing has been on the rise for over a year. Re-deployments have been the supply growth story so far, but most pumpers say they are virtually sold out now. Some expansion newbuild orders have been placed, but not enough for us to call this a real industry-wide newbuild cycle in frac at this point. It feels like we are on the verge… so in this update we summarize newbuilding to date and provide a summary of how some market leaders are approaching the build decision at this point in the cycle.
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Feature photo credit: Mike Rasco