Freedonia In The News
Article Title: Products & Services for Unconventional Plays
Publication: Upstream Pumping Solutions, 4/2/2014
Freedonia Study: Shale Gas & Tight Oil: Products & Services (3112)
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A combination of improved technologies—especially horizontal drilling and high-volume hydraulic fracturing—and high oil and gas prices helped make the development of shale gas and tight oil economically feasible and played a significant role in the industry’s rapid expansion between 2007 and 2012. Much of this demand was in nontraditional oil and gas areas, resulting in insufficient infrastructure and product and service shortages. In new plays, lease retention efforts increased drilling rates while a shift to liquids-rich plays—after natural gas prices plummeted—only exacerbated shortages. The prices of products—such as guar gum gelling agents, proppants and completion services—rose.
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