Patterson-UTI Says No Plans To Invest In E-Frac, Points To Oversupplied Market
Oilfield services provider Patterson-UTI on Sept. 3 said it had no plans to invest in electric hydraulic fracturing fleets, pointing to the high cost of building equipment and the oversupplied pressure pumping market. The company provides drilling and hydraulic fracturing services for oil and gas producers. It has explored divesting its fracking business as customers
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