Nextier Oilfield says insufficient fracs could bottleneck U.S. output growth in 2024

Nextier Oilfield Solutions

26/07/2023 16:27

HOUSTON, July 26 (Reuters) - Nextier Oilfield Solutions
 NEX.N  said it expects more demand than supply for its oilfield
drilling equipments as soon as next year and that could
bottleneck growth in U.S. oil and gas production. 
    "Considering our view that newbuilds have been insufficient
to entirely replace attrition, we believe frac equipment could
once again be the bottleneck to US oil and gas production growth
by next year," said Chief Executive Officer Robert Drummond.   

 (Reporting by Arathy Somasekhar in Houston)
 ((arathy.s@thomsonreuters.com; +1 832 610 7346; Twitter:
@ArathySom;))