Reformation in Mexico’s Oil & Gas Industry is expected to Drive the Market
Mexico’s crude oil production has been declining since 2005, due to the natural decline in mature fields and lack of significant start-ups to compensate. The daily production in 2016 was around 34% less than that 2005. The revenue from the sector has decreased significantly during the same period. The Mexican government in 2013 ended the seven-decade monopoly Pemex, a state oil firm, and opened its energy sector for private investment. The government is planning to auction several offshore fields in the coming years for exploration, which is expected to attract foreign players and drive the oilfield services market.
United States is the largest Market for Drilling Oilfield Services
As of February 2018, the United States has 968 active rigs and more than a million producing wells, and it is one of the largest markets for drilling oilfield services in the world. Drilling activity in the United States, in 2018, seems to be positive with the addition of 51 active rig count in the first 40 days of 2018. Permian is the largest hotspot for upstream activities in the country, and other regions are also growing significantly. Also, the government has opened around 98% its coastal waters for drilling, which was earlier not allowed. As a result, the drilling activity is expected to further increase in the country. With the increase in drilling activity, demand for oilfield services market is poised to grow.
Key Developments in the Market
- July 2017: General Electric completed its buyout of Baker Hughes Inc., merging it with its own oil & gas equipment and services operations, to create the world's second-largest oilfield service provider by revenue. The new company is named "Baker Hughes, a GE company“.
- January 2017: Schlumberger acquired Peak Well System, which is a specialist in the design and development of advanced downhole tools for well intervention, flow control, and well integrity.
Reasons to Purchase this Report
- Current and future North America oilfield services market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Countries that are expected to witness the fastest growth during the forecast period
- Identify the latest developments and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
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2. Research Methodology
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Force Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Location of Deployment
7.2 By Type
8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1.1 United States
8.1.3 Rest of North America
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
9.1 Schlumberger Limited
9.2 Weatherford International PLC
9.3 Baker Hughes A GE Co
9.4 Halliburton Company
9.5 National Oilwell Varco
9.6 Superior Energy Services Inc.
"9.7 Expro Group
9.9 Aker Solutions
9.10 ALTUS Intervention
10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
*List not Exhaustive
**Subject to availability on public domain
- Schlumberger Limited
- Weatherford International PLC
- Baker Hughes A GE Co.
- Halliburton Company
- National Oilwell Varco
- Superior Energy Services Inc.
- Expro Group
- Aker Solutions
- ALTUS Intervention