Permian Basin: As expected, and as usual, frac’ing falling faster than expected. “ProPetro plunged as much as 21% after posting a surprise second-quarter loss” and “Halliburton Co., the world’s biggest provider of fracking services, … will park some equipment amid deteriorating conditions in the US shale patch.”

Permian Basin fracking falling faster than expected, ProPetro CEO says by Carl Surran, Jul 30, 2025, Seeking Alpha

Permian Fracking Tumbles on Trade, OPEC Uncertainty, CEO Says by David Wethe, July 30, 2025, Bloomberg

Fracking in the Permian Basin is throttling back faster than expected….

There are now about 70 hydraulic fracturing crews working in the world’s largest shale patch, down from as many as 100 at the start of the year, Sam Sledge, chief executive officer at ProPetro Holding Corp., told analysts and investors Wednesday on a conference call.

… ProPetro plunged as much as 21% after posting a surprise second-quarter loss. The company now expects to run 10 to 11 frack crews in the current quarter and may cut that in the final three months of the year.

The third-quarter forecast is weaker than expected, Scott Gruber, an analyst at Citigroup Inc., wrote in a note to investors.

Halliburton Co., the world’s biggest provider of fracking services, said last week it will park some equipment amid deteriorating conditions in the US shale patch.