United States Directional Drilling Services Market to Gain from Investments in Oil and Gas Reserves
The growing investment in untapped oil & gas reserves and the rising
discoveries in the oil & gas industry are likely to boost the United
States directional drilling services market during the forecast period.
According to TechSci Research report, United States Directional
Drilling Services Market - By Region, Competition Forecast & Opportunities,
2028,” the United States directional drilling services market is expected
to register robust growth during the forecast period. The directional drilling
services market is anticipated to be driven by factors, such as the requirement
for drilling operations in the United States is growing rapidly.
There has been an increase in offshore exploration and production
(E&P) activity recently due to the expanding number of maturing onshore
oilfields. Although production from older wells has begun to drop and fresh
discoveries are discovered in certain regions, the Permian Basin in the United
States is the most significant in terms of crude oil production in the nation.
To fulfil the rising demand, the oil and gas industry is shifting its attention
to deeper locations in search of oil and gas.
The refurbishment of old fields and new offshore projects essentially
drive the directional drilling services market in the United States. Most of
the increase in petrol output is anticipated to come from new oil wells and
Marcellus/Utica shale production.
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The United States Directional Drilling Services Market is analyzed based
on type, service, technology, and application. Based on type, the market is
divided into Conventional and Rotary Steerable Systems. Based on service, the
market is divided into Logging-While-Drilling (LWD), Measurement-While-Drilling
(MWD) & Survey, Motors (MUD Motors), and Others. Based on technology, the
market is divided into Wellbore Positioning, Side Tracking, Well Planning, and
Others. Based on application, the market is divided into Onshore and Offshore.
Based on region the market is segmented into the South-Region, West-Region,
Mid-West Region, and Northeast-Region.
Based on type, the market is divided into Conventional, Rotary Steerable
Systems. Over the anticipated period, the conventional type segment is
anticipated to account for the greatest market share for directional drilling
services. Traditional directional drilling services divert the wellbore using
mud motors, specialized BHA parts, whipstocks, particular drill bits, and other
tools. Its cheap operating costs, effective drilling of low-angle wells in
challenging formations, and simple components support the predicted expansion
of the conventional type segment. Both onshore and offshore wells can use the
rotary steerable system (RSS) type segment of directional drilling services.
Even in complex formations, it can drill lengthy horizontal wells with a high inclination
angle.
Based on the service, the market is broadly categorized into Measurement
While Drilling (MWD), Logging While Drilling (LWD), Rotary Steerable
Systems (RSS), mud motors, and others. The crucial methods of gathering the
wellbore's dimensions during drilling operations and transferring the gathered
data to the surface using logging tools are measurement while drilling (MWD)
and logging while drilling (LWD). The category is anticipated to grow during
the forecast period as more attempts are being made to successfully drill deep
formations and achieve real-time monitoring. Rotary Steerable Systems (RSS)
offer a broad range of directional drilling capabilities in addition to giving
the drilling bit a lot of power.
Based on the location, this market is segmented into onshore and
offshore. Due to simple drilling techniques, low drilling and operational
costs, abundant resource availability, and several other factors, the onshore
segment is predicted to have significant expansion in the industry. Onshore
conventional and unconventional reservoirs of substantial size have been
identified recently, which would increase demand in the market in the next
years. Due to rising investments in drilling additional wells from a single
platform to boost production output, the offshore segment is anticipated to
develop significantly during the forecast period.
Major market players in the United States Directional Drilling Services
Market are: -
- Schlumberger Ltd
- Weatherford International
- Halliburton Company
- Baker Hughes Company
- Gyrodata
- Leam Drilling Systems
- National Oilwell Varco
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The low-permeability shale formations in the United States were
estimated to contain over 46 billion barrels of oil, 280 trillion cubic feet of
gas, and 20 billion barrels of natural gas liquids as of 2021. These fields are
probably going to be explored and produced to meet the growing demand for oil
and gas in the near future. All these developments are likely to aid the United
States Directional Drilling Services Market over the next few years,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm”.
United States Directional Drilling Services Market By Type
(Conventional, Rotary Steerable System), By Service (Rotary Steerable System
(RSS), Logging-While-Drilling (LWD), Measurement-While-Drilling (MWD), Survey,
Motors (MUD Motors), Others), By Technology (Wellbore Positioning, Side Tracking,
Well Planning, Others), By Application (Onshore v/s Offshore), By Region,
Competition, Forecast and Opportunities, 2028 has evaluated the future growth
potential of United States Directional Drilling Services Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities United States Directional Drilling Services
Market.
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