- Halliburton (HAL -0.3%), already the industry’s largest pressure pumper in terms of deployed horsepower, has surpassed 4M horsepower after adding ~700K horsepower since Q1 2017, according to an assessment by Rystad Energy.
- HAL’s recent additions make its fleet 1.6M hp larger than closest rival Schlumberger (SLB +0.8%), which plans to add 1M hp through the refurbishment of the Weatherford fleet during 2017-18.
- Rystad estimates the total pressure pumping market to have added 3.3M hp during 2017 and expects another 3.3M hp in 2018, and foresees pressure pumping spot prices to rise 10%-25% through Q2 2018, as utilization rates approach the 80%-85% threshold.