PacWest Consulting predicts increased drilling activity | Russell T. Rudy Energy LLC
According to “Rigzone”, the “Well IQ Market Outlook” (published by PacWest Consulting Partners) foresees robust activity for drilling and completion contractors into 2016.
Of the basins with significant horizontal drilling activity, major growth is predicted for the Permian in West Texas (22%), and the DJ Basin in Colorado and Wyoming (19%). The Anadarko Woodford/SCOOP (South Central Oklahoma Oil Province) which currently has less horizontal drilling activity is projected to see a 23% increase in drilling and stimulation operations.
PacWest maintains that three fourths of the growth in absolute terms will take place in the Bakken shale (North Dakota), the DJ Basin, the Permian Basin, and the Eagle Ford shale in South Texas.
The primarily gas plays, the Marcellus and Utica shales (in Pennsylvania and Ohio) are expected to experience a 15% growth rate in drilling and stimulation activity as well.
Currently it looks as though 6% more wells will be drilled nationwide in 2014 as opposed to last year. Horizontally fracked stages are expected to increase by 10,000 in the Bakken alone. The popularity of horizontal drilling is definitely on the rise with roughly 90% of frack stages being done on horizontal wells.
To read the article in its entirety, please go to www.rigzone.com/news/article.asp?hpf=1&a_id=134779&utm .
