Hydraulic Fracturing

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Hydraulic Fracturing

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This 160-page report covers the hydraulic fracturing market and its supply chain, focusing on the North American basins which represent most of the global industry.

Clients subscribing to the Hydraulic Fracturing Market report will receive complete and revised frac market reports each quarter for one year.  In these years of massive change in the industry, Spears is committed to keeping clients up to date on commercial, technical and activity trends within the sector.

Global demand for hydraulic fracturing services is on track to rise 35% in 2018 to $37.2 billion in response to continued gains in US drilling activity, longer laterals and increased proppant consumption per foot, leaving frac service firms scrambling to meet demand while also prompting them to order new equipment.  However, a shortage of pipeline takeaway capacity in the Permian basin is expected to slow completion activity in that important area for much of 2019 until new pipelines come onstream late in the year, at which point hydraulic fracturing activity is expected to accelerate dramatically.

This year's report profiles 50 companies in the frac supply chain, along with service company interviews, investing activity, and regional frac/acid/water/proppant demand.  Again this year we have included frac price changes each quarter starting in Q1 2008 and a count of each frac company’s available hydraulic horsepower in North America (2003 through 2020):

NORTH AMERICAN FRAC HYDRAULIC HORSEPOWER

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Each year the Spears team estimates frac stages pumped for each North American basin by quarter, projected through 2020.  Our analysis points to about 160,000 stages pumped in Q2 2019 after a low of 70,000 per quarter in 2016 and a peak of about 180,000 stages quite recently:

NORTH AMERICAN FRAC STAGES PUMPED

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And along with proppant demand by basin, we are now tracking proppant shipped by rail (for a detailed review of the proppant industry, including in-basin sand, please consider our sister publication, Proppants

SAND SHIPMENTS ON CLASS I RAILROADS

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We have again partnered with Oilfield Logix and its data mining team to evaluate drilling and completion trends for tens of thousands of wells across the US.  This data mining exercise allows us to see, for example, the increasing use of proppants in many basins throughout the US as longer laterals are allowing more stages and more sand to be pumped.  For example, the report includes horizontal drilling by lateral length in the Midland Basin of the Permian Basin…where extended reach wells became the predominant drilling technique since summer 2016.

Spears’ unique data and analysis includes our proprietary forecast of reservoir feet of hole completed each quarter in each basin. This is the primary driver of hydraulic fracturing spending:

US RESERVOIR FEET COMPLETED BY BASIN

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New in 2019 is Spears’ review and forecast of the burgeoning electric frac fleet trend.  These so-called e-frac fleets have been around for several years, but technology advancements and the E&P companies’ relentless pursuit of lower cost frac jobs is driving a sea change in the industry’s interest in e-frac:

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Each quarter the Hydraulic Fracturing market report has detailed analysis on the global frac industry, the US frac market (including frac service company market shares by basin), frac horsepower over time by company, performance of each frac service within the basins where they operate, proppant demand overview, the frac equipment supply chain, drivers of activity, lateral length trends by basin, impact of hot wells, quarterly frac pricing trends, and a review of associated markets, such as coiled tubing and water management.

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The Hydraulic Fracturing Market report is built from the ground up.  The Spears team interviews frac service company personnel, people throughout the supply chain, E&P completions engineers, consultants, procurement staff, logistics providers, railroad car fabricators, sand mine operators…  We combine this with in-depth analysis from our sister company, Oilfield Logix, who reviews the drilling and completion techniques on every well frac’d in the US.

The Hydraulic Fracturing Market report is available for immediate digital download upon purchase as a PowerPoint deck.  The data driving most charts and graphs is embedded in each report.