HYDRAULIC FRACTURING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In December 2022, ProPetro Holding Corp. entered into an agreement with a leading independent operator in the Permian Basin to deploy its first electric-powered hydraulic fracturing fleet ("e-fleet"). Under this three-year agreement, ProPetro Holding Crop. will deliver committed hydraulic fracturing services following the fleet's delivery. ProPetro Holding Corp. is a leading oilfield services company primarily focused on providing hydraulic fracturing services to upstream oil and gas operators in the U.S.
• In January 2022, Texas A&M University graduate researcher at Texas A&M University developed an innovative approach using 3D printing technology to accurately replicate the hydraulic fracturing process involved in oil and natural gas extraction
• In July 2021, Halliburton Company launched the Express Fiber optic solution, providing precise subsurface measurements. This cost-effective technology is designed for routine cross-well monitoring, minimizing disruption to ongoing operations. Halliburton Company is one of the largest and most diversified oilfield services companies in the world. The company provides a wide range of services and solutions for the upstream oil and gas industry, including exploration, development, and production optimization.
• In January 2021, the U.S. Environmental Protection Agency (EPA) informed the Texas Commission on Environmental Quality that the state could assume federal oversight for regulating the discharge of produced water, provided it meets specific toxicity standards. This initiative is expected to drive the adoption of cleaner hydraulic fracturing practices.