US player Basic Energy Services has agreed to buy an additional 74,000 hydraulic horsepower of pressure-pumping capacity and additional associated equipment for about $28.5 million.
The acquisition equates to less than $400 per unit of horsepower. The additional capacity will be applied across two hydraulic fracturing spreads, the Fort Worth-based company said.
Chief executive Roe Patterson said Basic has seen frack pricing rise from the beginning of the year by between 5% and 15%, depending on the basin.
