Oil well re-fracking is on the rise in the United States, Reuters has reported. For oil producers, refracking is a cheap way to add output to existing pipelines.
Shortages of steel, diesel, frac sand and workers have doubled oilfield inflation since January, making this discount method of boosting output even more attractive.
A re-frac can be up to 40 percent cheaper than a new well, according to experts. More important, it can double or triple oil flows from aging wells, said Garrett Fowler, chief operating officer for ResFrac, which helps producers optimize the technique.