The shale gas development boom in the United States is overshadowing. In the context of declining demand, shale gas prices have fallen, development gains are continuing to deteriorate, and the number of mining equipment is rapidly decreasing. Oilfield service companies that provide mining operations are also at risk of bankruptcy. The number of excavators currently working in the United States has dropped to 422, a 48% decrease from the previous year. This is the largest decline since the 1988 statistics of Baker Hughes, a US oil development and service provider. year. One reason for the decline in the number of excavators is that the US energy industry is shifting from shale gas production to shale oil production. In the July revenue and expenditure report, Schlumberger CEO, ranked third in the US oil services industry, pointed out that “the biggest cause of the decline in shale gas demand is that the industry is turning to shale. Oil production.†Because shale gas fields are at a higher pressure than shale oil fields, the output power of the required mining equipment is greater. The “hydraulic crushing technology†commonly used in the development of shale gas requires higher processes and more expensive equipment, which undoubtedly brings huge profits to the petroleum development and service industry. But this situation is changing. In addition, in the context of the recent sharp decline in natural gas prices and the global economic slowdown, high-cost oil service work is no longer indispensable. Investment by energy producers is showing a downward trend. Some companies, such as US Gas Company Chesapeake Energy, have begun to scale down their mining. Companies such as Halliburton, Baker Hughes, and Weatherford, the largest oil service providers in the United States, predict that their operating profit in North America will fall by about $1 billion in the second quarter of this year. Excessive competition within the industry and oversupply of mining equipment exacerbate the seriousness of the situation. Over the past five years, oilfield service providers have invested more than $10 billion in renewing machinery and equipment due to the accelerated development of shale gas fields in the United States. Although the total output of machinery and equipment necessary for the construction process of “hydraulic crushing technology†has reached about 15.6 million horsepower, the actual required capacity is only about 12 million horsepower, and the overcapacity ratio is 30%.
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