Global Conventional Shale Gas Exploration and Production Industry
Shale gas can be described gas, which can be found in shale formations. It has become an important source of gas as the fossil fuel is depleting and the demand for alternatives is rising. Various countries in the world are now looking towards this alternative to maintain their constant flow of energy. But the production method is starkly different from other procedures of gas exploration. The type is a bit unconventional for both its exploration and production procedure. However, its growing demand is expected to boost the global market for conventional shale gas exploration and production methods.
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One of the most prominent methods of extracting shale gas is called fracking, in short for hydraulic fracturing. The process includes drilling holes into the shale rock and horizontal drilling to reach the shale reserve and enabling the gas reserve to come out smoothly. The process involves less involvement of water, sand, and other materials that would make the extraction easier. The process is a conventional one for exploration and production.
However, the global market for conventional shale gas exploration and production may find some hindrances in terms of the involvement of environmentalists. Spillage in the process could lead to water contamination, which can cause serious harm to the ecological chain and the process can also influence minor earthquakes, which is a worry for many. However, the increasing safety measures that are getting adopted in the exploration and production procedure can influence better market outcomes in the coming years.
The key players covered in this study
Baker Hughes Incorporated
Calfrac Well Services Ltd.
Nabors Industries Ltd
United Oilfield Services
Cudd Energy Services
Trican Well Services Ltd
The global market report on conventional shale gas exploration and production can be studied using a proper segmentation. The segmentation in this report includes type and application, which can be used to get a closer analysis of factors that can impact the market.
By type, the global market for conventional shale gas exploration and production can be segmented into Proppants, Sand, Ceramics, Resin coated Sand and Others.
By application, the global market for conventional shale gas exploration and production can be segmented into conventional and non-conventional.
North America is showing some significant progress in the market as several companies are getting involved in the production of shale gas. The findings of these reserves are a relatively new phenomenon and its growing popularity as an alternative measure is proving essential for several segments. Europe is also witnessing significant growth in the procedure. The market study and constant influx of investment in both these regions are providing significant thrust to the growth of the market. In the Asia Pacific region, the regional market would get traction from China as it has a significantly large reserve of shale gas. The regional market also has ample scope for growth in the market.
In October 2019, Great Eastern Energy Corporation and Essar Oil and Gas Exploration and Production announced that they have approached the West Bengal government with proposals for amendments in existing mining leases (MLS). This has the potential for shale production in the Raniganj area.
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