The Houston Chronicle has a comprehensive look at the effect of softer petroleum prices and rising competition on oilfield services companies, especially in the category of pressure pumping, which includes hydraulic fracturing. The newspaper says the price of a fracturing job is down about 20 percent from its peak. It quotes Marc Rowland, CEO of FTS International, which has a big Fort Worth manufacturing operation, as saying the company has suspending all plans to add capacity in pressure pumping. The story is here.
-- Jim Fuquay