Analysts: Water Needs, Spend To Escalate
Horizontal drilling and upsized completions have fast-forwarded the oil and gas industry’s demand for water. At the same time, the lower for longer oil price recovery has placed ever more pressure on operators to cut costs, including for water, according to a new report, “Water for U.S. Hydraulic Fracturing,” from Bluefield Research.
The report forecasts that at a flat rig count of 650, 20.8 billion barrels (bbl) of water will be required for hydraulic fracturing from 2017 through 2026. Last year, fracturing consumed more than 1.3 billion bbl of water and produced 574 million bbl of water for disposal. Investors and industry players are positioning to play a role in this growing water market.
Source: Oilandgasinvestor.com Feeds