According to a recent article in Bloomberg, one of the world's biggest frackers is seeing signs of rebirth as a lengthy slump ebbs.
Hallburton reportedly indicated that attrition among oilfield service companies is beginning to show results and, in North America at least, a bottom may have been reached, according to a statement on Monday.
That said, the news is bittersweet given dramatic reductions to fracking crews.
In fact, executives revealed last week that half the company’s North American workforce has been eliminated over the trailing 12 months.
Chief Executive Officer Jeff Miller said in the statement that "The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing."
Some say that Hydraulic fracturing - a process that blasts water, sand and chemicals underground to release trapped hydrocarbons - could actually see a slight uptick thanks to a plethora of pre-drilled wells waiting to be completed.
But there's a long way to go.
While the number of frack crews working in U.S. fields has climbed back above 100 up from a record low in May of this year, it is still down by more than half since the start of the year, according to data collector Primary Vision Inc.
