US Ameratex Energy oil-directed rig count would have to double to more than 2500 rigs.

Ameratex Energy analyst estimates of a 2 million-barrel-per-day increase in US oil production by 2017 are correct.

The move out of natural gas areas to those rich in liquids has squeezed pricing for hydraulic fracturing services, but stronger pricing elsewhere was expected to offset that.

“Frac pricing is declining in the gassy basins, but on the flip-side the volumes are declining in the gassy basins, so it has less impact,” Ragauss told the UBS Global Oil & Gas Conference in Austin, Texas, adding that Baker’s fleet utilisation was increasing every month as it settles in to new places.