Pressure pumping, a market practically owned by Halliburton both here and abroad, is in a sellers market.
Directional drilling, bits, submersible pumps, pressure pumping, oilfield chemicals (which is about to be huge, as shale wells get frakked)--they do it all.
Pressure pumping, a market practically owned by Halliburton (nyse: HAL - news - people ) both here and abroad, is in a sellers market.
Of late, the U.S. oil field services sector has been impacted by weak natural gas pricing, which has taken its toll on companies that offer pressure pumping services.
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However, results from the international operations are expected to be encouraging as the company has lower exposure to the global pressure pumping space and enjoys better pricing power for its services.
In Q3, the firm reported a 2% sequential drop in revenues and an 18% drop in operating income, primarily due to weak drilling in North America and an oversupplied pressure pumping market.
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This has driven down demand and pricing for pressure pumping services like fracking that are used to extract gas from shale rock formations, severely impacting margins of most large oil field firms including Baker Hughes.
For this quarter, the firm expects profit margins from the region to be between 8.5% and 9.5%, down from around 11.7% in Q3 due to its heavy exposure to the oversupplied pressure pumping market and a decrease in land based drilling demand.
Pricing power in North America pressure pumping remained robust, but more importantly towards the end of the quarter it became clear that pricing traction for certain other services particularly those related to drilling high-risk deepwater plays or other complex developments was in place both in North America and internationally.
Yet securities research firm Macquarie Capital estimates there is a shortage of pressure-pumping services.
Its customer base comprises four of North America's largest providers of pressure-pumping services to the drilling industry: Baker Hughes Inc.
Geologists have found huge deposits in the U.K. and Poland, yet the entire international pressure-pumping fleet outside of Russia is just 2 million hp, Pursell says.
This is the same gas responsible for recent coal mine accidents, and it can infiltrate the water reservoir if there is too much pumping, which creates a pressure draw down.
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But robbers are getting more sophisticated, sometimes pumping water back into the pipes to fool pressure sensors.
Fracking is a technique involving pumping water and chemicals into shale rock at high pressure to extract gas.
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Pumping billions of barrels of Toxic Fluids UNDER MASSIVE PRESSURE INTO the GROUND.
Fracking is a controversial process that involves pumping water and chemicals into shale rock at high pressure to extract gas.
Fracking is a technique of shale gas extraction that involves pumping water and chemicals into shale rock at high pressure to extract gas.
They had been protesting at a site in Hesketh Bank operated by energy firm Cuadrilla which was given a licence in 2008 to extract gas by pumping water, sand and chemicals into shale rock at pressure.
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It extracts oil from the ground using a method called fracking - pumping down a mixture of sand, water and chemicals at high pressure.
The process involves pumping water containing small percentages of other materials into the porous shale under pressure to hydraulically fracture it and release the trapped oil and gas.
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We variously talked about fitting bicycle valves to the caps and pumping them up, building a hyperbaric chamber to fill the bottles under pressure and finally liquid nitrogen.
Under the process of fracking, oil or gas is extracted from shale rock by pumping a mixture of sand, water and chemicals into the rock at high pressure.
During the pumping and displacement of the heavyweight spacer used to displace the mud, a breach in pressure integrity resulted in the undetected loss of drilling mud into the probably uncemented well-bore.
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Either way, the CO2 must be put somewhere, for which strategies include pumping it into rocky formations (such as depleted oil and gas wells) at a pressure of 100 atmospheres, or even piping it in liquid form under pressure onto the sea-floor where it is cold enough and the pressure high enough that it is hoped the material will stay there, assisted by the formation of CO2-hydrate.
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