Schlumberger CEO Andrew Gould says the service market is supported by liquids production and pressure pumping demand in the Eagle Ford Shale. The Eagle Ford's liquid production demands more services than a typical gas well. The demand for pressure pumping equipment is helping hold prices in the service industry.
In particular, demand for pressure-pumping gear used to extract oil and natural gas liquids from U.S. shale fields such as the Eagle Ford of southern Texas will feed growth and keep pricing firm, Gould said .These oil and gas fields require more equipment than others — a boon for services providers, he said.
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