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The oilfield-gear market is so tight that oil explorers already are talking to Halliburton about 2023 drilling and fracking schedules, “well in advance” of the typical planning cycle, he said. Even the diesel-powered fracking equipment that is being gradually supplanted by more climate-friendly electric equipment is scarce.
“Supply-chain bottlenecks, even for diesel fleet, make it almost impossible to add incremental capacity this year,” Miller said. “Existing active equipment and experienced crews are in high demand and will continue to be highly sought after.”
HPK is in the cat bird seat.