EnergentGroup.com

Schlumberger-Weatherford JV Could Challenge Halliburton

On March 24, 2017, Weatherford and Schlumberger announced a proposed joint venture to deliver completions products and services for the development of unconventional plays in the United States and Canada. Going by the name OneStim, the venture will boast one of the largest hydraulic fracturing fleets in the industry, possibly rivaling that of Halliburton. Schlumberger’s hydraulic fracturing fleet currently has 2 million horsepower and Weatherford’s is estimated at 800,000-1 million HHP. The com
EnergentGroup.com

NOV Banks on Growing Demand for Longer Laterals, Improved Monitoring

On April 27, 2017, National Oilwell Varco (NYSE:NOV) released its Q1’17 results to investors in its quarterly earnings call. During the first quarter, the company booked orders for Highlights from Q1 also included introduction of a new coiled tubing string, two new condition-based monitoring (CBM) systems, and new technology for tubular inspections, as well as two key success stories involving NOV equipment. NOV’s new QT-1400™ is the strongest coiled tubing string available on the market today
EnergentGroup.com

Parsley Energy Grows Drilling Inventory 73% with Permian Acquisition

Parsley Energy (NYSE: PE) announced in its Q1’17 earnings call that it had closed the acquisition of about 71,000 acres and associated assets in the Permian Basin from Double Eagle Energy Permian LLC. The acquisition — which spans Dawson, Andrews, Martin, Howard, Midland, Glasscock, Upton, and Reagan Counties — increases Parsley’s total leasehold in the Permian to about 230,000 net acres and grows its net drilling inventory (in terms of locations in priority target zones) by 73 percent: The Dou