Pioneer will acquire all of the outstanding shares of Parsley in an all-stock transaction valued at approximately US$4.5 billion.
ConocoPhillips has agreed to buy US shale oil producer Concho Resources Inc for US$9.7 billion.
SmartFleet gives operators real-time fracture control while pumping by integrating subsurface fracture measurements, live 3D visualisation, and real-time fracture commands.
More Hydraulic fracturing news
Rystad estimates that the total number of started frac operations will end up below 300 wells in April 2020.
The VX Hydraulic Fracturing Pump Fluid End has been designed for use with GD-2500Q hydraulic fracturing pumps and comparable 8 in. stroke quintuplex power ends from other manufacturers.
The revised 2020 capital budget of US$1.3 billion or less includes the implementation of 2Q20 frac holidays in the Bakken and Eagle Ford.
The company has more than US$585 million of cash on its balance sheet and will continue to operate its business in the normal course without material disruption to its vendors, partners or employees.
The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.