United States Onshore Drilling Fluid Market by Product, Basin, Additive Type and Geography - Growth, Trends and Forecast (2018-2023) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 24, 2019--The “United States Onshore Drilling Fluid Market - Segmented by Product, Basin, Additive Type, and Geography - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The US onshore drilling fluid market is expected to witness a CAGR of 13.92% over the forecast period 2018-2023.
The market is majorly driven by the factors such as low break even price and high crude oil price, increasing demand for longer lateral length, and continuous growth in demand for permian basin.
Permian Basin to Dominate the Market
With the increasing demand for unconventional resources, the activity in the Delaware Basin and the Marfa Basin has revived. Currently, the number of exploring wells are increasing in the basin.
During May-June 2018, the number of rigs increased by five times. Additionally, it is the largest shale oil producing basin in the country and is poised to become one of the largest crude producing regions, only next to Saudi Arabia and Russia.
The major operators in the basin include Pioneer Natural Resources Company, Occidental Petroleum Corporation, Apache Corporation, Concho Resources Inc. (Cog Operating LLC), BHP Billiton Pet (Txla OP) CO, Cimarex Energy, and Anadarko Petroleum Corporation among others.
DriversLow Breakeven Price and High Crude Oil Price Increasing Demand for Longer Lateral Length Continuous Growth in Demand from Permian Basin
RestraintsHigh DUC Well Count Drilling Fluid Challenges
OpportunitiesRe-emergence of Austin Chalk Increasing Exploitation of Unconventional Reserves
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Competitive Landscape
7. Company ProfilesImdex Limited Horizon Mud Company AES Drilling Fluids Medserv Baker Hughes - a GE Co. Schlumberger Limited Newpark Resources Weatherford International National-Oilwell Varco Francis Drilling Fluids Oleon Americas (Avril Group) Q’max Solutions Unique Drilling Fluids Sunwest Fluids McAda Drilling Fluids Geo Drilling Fluids CES Energy Solutions Corp.
For more information about this report visit https://www.researchandmarkets.com/research/37nt8n/united_states?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190124005398/en/
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Related Topics:Oilfield Equipment and Services,Oilfield Chemicals
INDUSTRY KEYWORD: ENERGY OIL/GAS NATURAL RESOURCES MINING/MINERALS OTHER NATURAL RESOURCES
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 01/24/2019 07:51 AM/DISC: 01/24/2019 07:51 AM