AMPING UP
FRACKING ACTIVITY
Travis Bolt, NOV, USA, explains how electric fracturing will help operators usher in the next generation of performance while delivering responsible, cost-effective frac operations.
T
he oil and gas industry has undergone a significant transition over the past few years, as institutional investors which once viewed financial growth as the key to oil and gas investing are now focused on financial return and the way it is achieved. In order to attract today’s investors, operators have prioritised developing best practices that deliver on efficiency and lowering operational cost to increase profitability. In addition, these same investors are analysing oil and gas companies by their ability to implement environmental, social and corporate governance (ESG) business practices into their daily routine. This combination of market and social drivers has resulted in the evaluation of all operational aspects of energy extraction, and fracturing has not been exempt from that assessment, as it plays a significant part in the total cost of a well’s completion. As a result, service companies are seeing more pressure being exerted to evaluate new frac technologies.
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