Increasing Investments in Unconventional Oil and Gas Reserves Driving Underbalanced Drilling Market Growth

 OVERVIEW:

The Global Underbalanced Drilling Market size is projected to reach USD XX million, from an estimated USD XX million, with 5.24% CAGR from 2022 to 2030.  

The underbalanced drilling market is a vital segment of the global oil and gas industry. Underbalanced drilling is a technique used in oil and gas drilling operations to maintain the pressure of the wellbore below the formation pressure. This technique allows for better drilling efficiency and reduces damage to the formation.

MARKET SEGMENTATION

By Technique

  • Lightweight Drilling Fluids
  • Gas Injection
  • Foam Injection

By Application

  • Onshore
  • Offshore

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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GLOBAL UNDERBALANCED DRILLING MARKET SHARE, BY REGION, 2018

  • North America: XX%
  • Europe: XX%
  • Asia-Pacific: XX%
  • Rest of the World (RoW): XX%

Drivers –

  • Rising demand for crude oil owing to rapid urbanization
  • Increasing exploration and drilling activities
  • Discovery of new oil and gas deposits

Opportunities

  • The current trend in drilling and completion activities
  • New product launches and R&D amongst major key players

KEY COMPANIES PROFILED

  • Air Drilling Associates Inc. (US)
  • Ensign Energy Services (Canada)
  • Schlumberger Limited (US)
  • Halliburton Inc. (US)
  • Weatherford International (US)
  • National Oilwell Varco (US)
  • Beyond Energy (Canada)
  • STRATA Energy Services (Australia)
  • Kinley Exploration LLC (US)
  • Precision Air Drilling Services Inc. (US)

 

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