Latest news with #hydraulicfracturing
Bloomberg
3 hours ago
- Business
- Bloomberg
Halliburton to Retire Some Gear Amid Weakening Oilfield Demand
Halliburton Co. is idling some oilfield equipment in response to deteriorating demand among shale companies. The world's largest provider of hydraulic fracturing is forecasting shrinking margins in its biggest business line as weakening demand weighs on the prices it can charge, Chief Executive Officer Jeff Miller said Tuesday. The company plans to idle or retire some equipment.
Yahoo
a day ago
- Business
- Yahoo
Here is Why ProPetro Holding (PUMP) Plunged This Week
The share price of ProPetro Holding Corp. (NYSE:PUMP) fell by 13.3% between July 11 and July 18, 2025, putting it among the Energy Stocks that Lost the Most This Week. An oil derrick silhouetted against a rising sun with a blue sky in the background. ProPetro Holding Corp. (NYSE:PUMP) is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. ProPetro Holding Corp. (NYSE:PUMP) plunged this week following a downturn witnessed in the overall oilfield services sector, amid reports of a slowdown in drilling activity and a broader pullback in exploration and production spending. Analysts expect the sector to post a decline in earnings in the Q2 earnings season, as well as a drop in guidance for the second half of the year. Moreover, investors may also have reacted to ProPetro Holding Corp. (NYSE:PUMP) recently announcing a change in leadership, with Mr. Caleb Weatherl appointed as the company's new CFO on July 14, 2025. Following the recent decline, the share price of ProPetro Holding Corp. (NYSE:PUMP) has plunged by over 42% since the beginning of 2025. While we acknowledge the potential of PUMP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Oil and Gas Dividend Stocks to Buy Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Oilfield service group says relief from counter-tariffs on U.S. sand 'fantastic news'
The federal government is offering Canadian oil and gas drillers counter-tariff reprieve on the vast amounts of sand they import from the United States. The sand is used in the hydraulic fracturing — or fracking — process to help free resources trapped in hard-to-access shale formations deep underground. It's among the imported U.S. goods on which Canada has imposed a surcharge in retaliation for President Donald Trump's flurry of tariffs. Sand from Wisconsin meets the specs needed by Canadian drillers, and the lion's share of what they use is brought in from the Midwestern state. A federal order published in the Canada Gazette newsletter this week says relief is available for companies that import silica and quartz sand, among other products. Gurpreet Lail, the chief executive of industry group Enserva, says it's fantastic news, as the counter-tariffs on sand alone would have cost industry $275 million a year.
CTV News
5 days ago
- Business
- CTV News
Oilfield service group says relief from counter-tariffs on U.S. sand ‘fantastic news'
A sand dune is backdropped by Atlas Energy plant at the beginning of a 68-kilometre conveyor belt that carries sand needed for hydraulic fracturing Wednesday, Feb. 26, 2025, in Kermit, Texas. (AP Photo/Julio Cortez) CALGARY — The federal government is offering Canadian oil and gas drillers counter-tariff reprieve on the vast amounts of sand they import from the United States. The sand is used in the hydraulic fracturing — or fracking — process to help free resources trapped in hard-to-access shale formations deep underground. It's among the imported U.S. goods on which Canada has imposed a surcharge in retaliation for President Donald Trump's flurry of tariffs. Sand from Wisconsin meets the specs needed by Canadian drillers, and the lion's share of what they use is brought in from the Midwestern state. A federal order published in the Canada Gazette newsletter this week says relief is available for companies that import silica and quartz sand, among other products. Gurpreet Lail, the chief executive of industry group Enserva, says it's fantastic news, as the counter-tariffs on sand alone would have cost industry $275 million a year. --- Lauren Krugel, The Canadian Press This report by The Canadian Press was first published July 17, 2025.
National Post
04-07-2025
- Business
- National Post
STEP Energy Services Ltd. to Announce Second Quarter 2025 Results and Host Conference Call
Article content CALGARY, Alberta — STEP Energy Services Ltd. ('STEP') (TSX: STEP) intends to release its second quarter results on Wednesday, August 6, 2025 after markets close. Article content Financial Statements and Management's Discussion and Analysis will be posted to STEP's website and SEDAR+ after the press release is disseminated. Article content Article content STEP will host a conference call on Thursday, August 7, 2025 at 9:00 a.m. MT to discuss the results for the first quarter. Article content To listen to the webcast of the conference call, please click on the following URL: You can also visit the Investors section of our website at and go to 'Upcoming Events and Meetings'. Article content To participate in the Q&A session, please call the conference call operator at: 1-800-717-1738 (toll free) 15 minutes prior to the call's start time and ask for 'STEP Energy Services Second Quarter 2025 Earnings Results Conference Call'. Article content ABOUT STEP Article content STEP is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures. STEP has a high-performance, safety-focused culture and its experienced technical office and field professionals are committed to providing innovative, reliable and cost-effective solutions to its clients. Article content Founded in 2011 as a specialized deep capacity coiled tubing company, STEP has grown into a North American service provider delivering completion and stimulation services to exploration and production ('E&P') companies in Canada and the U.S. Our Canadian services are focused in the Western Canadian Sedimentary Basin ('WCSB'), while in the U.S., our coiled tubing services are concentrated in the Permian and Eagle Ford in Texas, the Uinta-Piceance, and Niobrara-DJ basins in Colorado and the Bakken in North Dakota. Article content Our four core values – Safety, Trust, Execution and Possibilities – inspire our team of professionals to provide differentiated levels of service, with a goal of flawless execution and an unwavering focus on safety. Article content Article content Article content Article content Contacts Article content For more information please contact: Article content Article content Steve Glanville Article content Article content Article content Telephone: 403-457-1772 Article content
