re Pumping Capacity (Million HHP at Year End) 25 20 15 10 5 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E Source: PacWesl ardJ.P. Morgan. "•6.8mm HHF, was added in 2010-2011 or 1/3 of current capacity With promising pricing signs, will HAL put the Tier 2 players in their place? In