Quest for Unconventional Recovery to Drive the Market
The United States has set itself an ambitious target of being a net oil exporter by 2022. In the midst of the current ‘lower for longer’ oil prices scenario across the globe, the US shale witnessed a 53% jump in investment in 2017 and lead the global upstream investment chart. Despite the concerns surrounding worldwide over oil prices and reduced upstream capital expenditure, shale drillers of the region remain optimistic of the increased drilling and completion activity, resulting in Shale Boom 2.0. Furthermore, oil production from Alberta oil sands is projected to reach 3.4 million billion per day (MMbpd) by 2020, on account of the increased drilling activity, thus bolstering the demand for drilling & completions fluids in the North American region. Mexico is also expected to offer a significant number of offshore oil blocks for exploration, thereby boosting the demand for drilling & completion fluids in the North American region.
Growing Demand for Longer Lateral Supplementing in the United States
The lateral lengths of the unconventional wells drilled in the United States have increased from 2,500 feet to nearly 7,000 feet. Each unconventional well, on an average, is being drilled with longer lateral well sections. Furthermore, advancements in drilling technology, dynamic positioning equipment, and floating production and drilling units, have made drilling into farther and farther offshore more viable, thereby boosting deepwater drilling. With the increased application of horizontal drilling and into deeper water, the average drilling & completion fluids required for a well is on the rise. With the opening up of approximately 90% of outer continental shelf (OCS) by the US government, the deepwater drilling activities with increased lateral are expected to register further growth, thereby boosting the demand for drilling & completion fluids in the United States.
Key Developments in the Market
- March 2018: W&T Offshore announced plans to drill up to 14 projects in the Gulf of Mexico.
- February 2018: The fourth Transocean ultra-deepwater drillship was on duty for Shell, in the Gulf of Mexico.
Reasons to Purchase this Report
- Current and future North America drilling & completion fluid market outlook in the developed and emerging nations.
- Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market.
- The 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
3.4 Government Policies and Regulations
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Products and Services
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Fluid Type
7.1.4 Other Fluid Types
7.2 By Deployment
8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1 United States
8.3 Rest of North America
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
9.1 Schlumberger Limited
9.2 Baker Hughes (A GE Company)
9.3 Halliburton Company
9.4 CES Energy Solutions Corp.
9.5 National-Oilwell Varco Inc.
9.6 Tetra Technologies Inc.
9.7 Anchor Drilling Fluids USA Inc. (A QMax Company)
9.8 Newpark Resources Inc.
9.9 Chevron Phillips Chemical Company LLC
9.10 Geo Drilling Fluids Inc.
9.11 Trican Well Service Ltd
10. Competitive Landscape
10.1 Mergers & Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
(*List of companies is not exhaustive)
(**Subject to availability on the public domain)
- Schlumberger Limited
- Baker Hughes (a GE Company)
- Halliburton Company
- CES Energy Solutions Corp.
- Anchor Drilling Fluids USA Inc. (a QMax Company)
- Newpark Resources Inc.
- Chevron Phillips Chemical Company LLC
- Geo Drilling Fluids Inc.