U.S.-focused oilfield services firms fall on lower natural gas prices

Nextier Oilfield Solutions

26/01/2023 17:34

** Shares of some U.S.-focused oilfield service (OFS) firms
edge lower, tracking fall in natural gas prices     
    ** U.S. natural gas futures  NGc1  plunge 8.9% on forecasts
for less cold weather and lower heating demand next week than
previously expected, and a growing belief that Freeport LNG's
Texas liquefied natural gas (LNG) export plant will not restart
until March or later
    ** Liberty Oilfield Services Inc  LBRT.N , Nextier Oilfield
Solutions Inc  NEX.N , Propetro Holding Corp  PUMP.N  and
Patterson-UTI Energy Inc  PTEN.O  down between 2.1% and 4.1%   
    ** LBRT also says there could be a pullback in pressure
pumping market in the U.S. in response to lower natural gas
prices
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))