The new 15 000 ft2 Houston facility will support the company's operations in US onshore unconventional plays.
More Hydraulic fracturing news
Most US shale producers are being conservative in their production and capital guidance, as priorities remain around protecting balance sheets and generating free cash flow, according to GlobalData.
The electric fracturing solution reduced emissions for Chesapeake in the Marcellus by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network.
The number of ‘live’ drilled but uncompleted wells in the US’s major oil regions slumped to 2381 wells in June 2021, the lowest level since 2013, analysis by Rystad indicates.
According to GlobalData’s latest report, ‘Bakken Shale in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025’, Bakken Shale accounted for a mere 11% of oil and 2.8% of natural gas production in the US Lower 48 for 2020, which is a drop from 12% for crude oil and 3% for natural gas in 2019.
The two companies have agreed to develop 20 oil wells in the Bajada del Palo Oeste block, located in the Vaca Muerta shale play in Argentina.
The new facility is part of the company’s planned expansion into the northeast (Marcellus and Utica) market.
Applied Petroleum Technology has ramped up its presence in Houston to support US operators involved with shale oil as well as companies engaged in offshore E&P in the Gulf of Mexico.