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Rockies: Workover Prices Static In Face Of Increasing Demand

Contractors expect workover rates to remain flat for the remainder of 2016, even with growing activity in the Greater Rockies’ Uinta Basin and Niobrara Shale.

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Hint Of Demand For Midcontinent Workover Rigs

Pricing remains steady and bid inquiries are up for Midcon workover services. Demand was actually on the cusp of increasing in the second quarter until weather interrupted field work.

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Permian Attitudes Improve As Workover Pricing Bottoms Out

Demand for workover rigs in the Permian Basin has remained low with the majority of work focused on maintaining producing wells to keep cash flowing.

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Time Is Running Out For Some Eagle Ford Service Companies

Eagle Ford operators need a sustained $50 oil price to stoke demand. Meanwhile, service companies are almost exclusively working on maintenance projects as drilling slows in the shale play.

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Well Servicing Demand Stalls In Bakken Shale

No completion work for Bakken workover contractors this quarter though pricing has stabilized. Meanwhile, fracking crews in the area dwindle, according to Hart Energy’s Heard In The Field report.

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Marcellus Shale: No Demand For Workover Services

Well service work has focused on necessary maintenance and little else in the Marcellus Shale area, according to Hart Energy's Heard In The Field survey respondents.

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Small Workover Firms Shutter Operations In Midcontinent

Several respondents of Hart Energy's Heard In The Field survey said smaller “mom and pop” workover companies were either leaving the Midcontinent region or shutting in operations until prices recover.

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Barnett, Fayetteville, Haynesville Operators Stretch Out Workover Payments

Workover contractors in dry gas basins are hunkering down as several operators go dormant or redirect capital spending elsewhere, according to Hart Energy’s Heard In The Field survey.

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Permian Workover Firms Face Growing Duress

The ‘winter of discontent’ continues for Permian Basin workover providers. Routine maintenance now accounts for 80% of job mix. Meanwhile, average hourly rates drop further.

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Price War Underway In Eagle Ford For Limited Workover Jobs

Some Eagle Ford operators are working as cheaply as possible to get whatever work they can. Contractors report a majority is focused solely on routine maintenance, done only as necessary.

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Essential Maintenance Keeps Bakken Workover Firms Afloat

Operators in the Bakken Shale are now announcing 2016 capital spending reductions that indicate significant cutbacks in store. Meanwhile, workover contractors grapple with the implications.

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Some Marcellus Workover Firms Shut-In Until Gas Prices Improve

Hourly workover rates dropped 10% in the last 90 days, according to Hart Energy’s Heard In The Field report. Contractors say the region needs gas prices above $3 before activity improves.