Directional drilling or slant drilling is a method of drilling non-vertical drills. Directional drilling is used for various purposes including to increase the number of wells from a single location, increase access to remote surface locations, and others. Various types of directional drilling include, horizontal wells, multilateral wells, and extended reach wells.
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Global Directional Drilling Solutions & Services Market – Insights
Global directional drilling solutions & services market generated revenue of US$ 8.5 billion in 2017. By 2026, the directional drilling solutions & services market is expected to be valued at US$ 18.3 billion with a CAGR of 8.6% over the forecast period. Rental segment in the market is expected to exhibit the highest growth rate during the forecast period. As costs of purchasing directional drilling equipment such as rotary steerable systems and mud motors is quite high, preference is being given to rental services wherein required tools and services can be rented out as per requirements.
The market in this report is studied across solutions, services, and applications. Across solutions, the market is further segmented into new purchase and rentals. Both sub-segments include, measurement-while-drilling (MWD) tools, logging-while-drilling (LWD) tools, Rotary steerable systems (RSS) tools, mud motors, and others. Services segment is further studied across MWD services, LWD services, RSS services, repair & maintenance, and consulting & other services.
Market Drivers: Increasing development of unconventional oil and gas resources is expected to boost the market growth over the forecast period
Advancement in directional drilling such as measurement while drilling (MWD) and downhole motor (DHM) technologies have led to development of unconventional oil and gas resources by improving access to the reservoir from surface locations and increasing reservoir contact. For instance, in April 2017, Toro launched a new horizontal directional drill operating system, which allows pipe handling functions to be performed using a single input on the joystick in the SmartTouch operating mode. Moreover, horizontal well offers greater wellbore contact with the reservoir than a vertical well. In a horizontal well, the length of reservoir contact is limited by the length of the lateral, which is determined by the mechanical ability to extend the drill bit along the lateral.
Global Directional Drilling Solutions & Services Market: Key Players
Major players operating in the global directional drilling solutions & services industry include, Schlumberger Limited, Halliburton Company, Downhole Drilling Services, LLC, Segofs Energy Services Limited, General Electric Company, KAMBI Enterprises Inc., Tolteq Group, LLC (National Oilwell Varco, Inc.), APS Technology, Inc., Shanghai Oilfield Equipment Co., Limited (SOECO), Beijing Geoshine Oilfield Technology Services Co., Ltd., Compass Directional Guidance, Inc., Scientific Drilling International, CBG Corp, China Oilfield Services Limited (COSL), Weatherford, Bench Tree, and Newsco International Energy Services Inc..
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