Directional Drilling Market – Overview
The need to increase production from the harshest wells has raised the growth of directional drilling considerably. Market reports related with the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to expand with a 3.48 % CAGR in the forecast period.
Directional drilling is the science of deviating a wellbore along a planned path to a target located a given lateral distance and direction from vertical. Directional drilling can be used to reach targets that cannot be drilled with a vertical well. The escalation in discoveries related to the oil and gas industry along with shale activities have raised the use of directional drilling substantially. The capability of directional drilling to enable the drilling of multiple wells from the parent wellbore are raising the growth potential of the market. Moreover, the escalated level of demand from upstream oil companies will create new prospects for the directional drilling in the upcoming years.
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Directional Drilling Market Segmental Overview
- National Oilwell Varco (U.S.),
- Weatherford International Plc. (U.S.),
- Jindal Drilling & Industries Limited (India),
- Halliburton Company (U.S.),
- Schlumberger Ltd (U.S.),
- Nabors Industries Ltd (Bermuda),
- Baker Hughes Incorporated (U.S.),
- Cathedral Energy Services Ltd (Canada), and
- Gyrodata Incorporated (U.S.)
The segmentation of the directional drilling market has been carried out on the basis of application, well type, services, and region.
On the basis of application type, the directional drilling market is segmented into onshore and offshore.
The segmentation of the directional drilling market on well type comprises of multilateral wells, horizontal well, and extended reach wells.
The services-based segmentation of the directional drilling market consists of logging while drilling (LWD), rotary steerable system, measurement while drilling (MWD), and motors.
The regions included in the directional drilling market are Europe, North America, Asia Pacific and rest of the world.
Latest Industry News:
- In August 2017, Greka Drilling Limited, the largest independent and specialized unconventional oil & gas driller in Asia, was awarded two new drilling contracts from PetroChina Huabei Oilfield Limited, a subsidiary of CNPC. The contract for the Fanzhuang Block is for one year with a scope of 16 wells consisting of vertical/directional production wells as well as exploration wells.
- In October 2016, GDC contracted the Great Wall Drilling Company Limited to drill directional geothermal wells in Menengai. Under this contract Great wall was expected to drill 16 directional wells in Menengai.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Directional Drilling Market Share, By Application, 2017 (%)
Figure 9 Global Directional Drilling Market, By Application, 2018-2023 (USD Million)
Figure 10 Global Directional Drilling Market Share, By Services, 2017 (%)
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