The hydraulic fracturing sector’s call for water management solutions continues as the resurgence of drilling activity has been maintained over the past 24 months. Signals from energy markets are positive, with oil prices up edging towards US$70 per barrel– and total spending on water management for hydraulic fracturing forecasted to climb past US$15 billion at the close of this year.
The US hydraulic fracturing (fracking) industry consumed over 2.2 billion barrels of water in 2017, producing approximately 660 million barrels of contaminated water for disposal, with only about 14 percent treated and re-used. Water management spending for fracking is expected to total US$161 billion over the next decade, according to Bluefield’s forecasts.
This latest forecast builds upon Bluefield’s analysis in previous versions, providing three market outlooks and taking into account horizontal drilling activity in 438 counties and 28 U.S. states.