Fracking companies are blasting less sand into shale wells for the first time in almost three years as oil explorers adjust to lower oil demand and prices amid the coronavirus pandemic, according to an article on Bloomberg.
Shale explorers are pumping an average of roughly 2.9 million lb. of sand a day during the current quarter, marking the first time since the final three months of 2017 that growth has subsided, according to Coras Research LLC. Sand per well is a key measurement of frac efficiency because more sand typically means more of the rock fissures that allow crude to flow.
“E&Ps are not getting the same bang for their frac buck this quarter,” Daniel Cruise, founder of Coras, wrote in a report. If frac efficiency continues to decline, it “would put more pressure on U.S. shale production going forward.”