Newbuild

Permian pure-play oilfield services operator ProPetro Holding Corp. increased its revenue and boosted its hydraulic horsepower (hhp) capacity during the fourth quarter, with an eye on building its business even more in 2018.

Hercules Offshore Inc. last week emerged from Chapter 11 bankruptcy protection, but the hard work continues after CEO John Rynd said activity in the U.S. Gulf of Mexico (GOM) was “lower today than at any time since the early days of the offshore drilling industry.”

Crosstex Energy LP and Apache Corp. said they will invest $85 million in a newbuild natural gas processing facility in the Permian Basin in West Texas. The initial phase of the project will provide interim and long-term processing solutions, compression and residue gas takeaway for Apache’s Deadwood development in Glasscock County. Crosstex and Apache will fund the project equally and each hold a 50% working interest. Separately, Crosstex will buy and upgrade a nearby rail terminal to provide transportation of natural gas liquids to its Eunice fractionation facility in southern Louisiana.