Drilling and Completion Fluids Market

Date: 2/24/2014

Drilling Fluids (Drilling Mud) Market & Completion Fluids Market Report, 2018

Controlling and Monitoring Processes and Automation Equipment at Oilfield Equipment & Services

  • By: marketsandmarkets.com
  • Publishing Date: September 2013
  • Report Code: EP 2113

Drilling fluids and completion fluids are critical for any drilling and exploration activity carried onshore or offshore. They are used extensively worldwide at drilling sites for cooling the wellbore, remove the rock cuttings, and transport them to the surface. The high world energy demand and rise in population are forcing to drill as deep as possible and in challenging geological conditions. The shale boom in North America and other regions have again fueled the growth of drilling and completion fluids. The largest application area for completion and drilling fluids market is the onshore application as most of the drilling activities are carried onshore. The major countries for the drilling and completion fluids market are U.S., Canada, and Russia where most of the drilling activities are taking place.

The completion and drilling fluids market is driven by the increasing drilling activities and it is expected to be another strong, profitable year for E&P companies around the globe, especially for those focusing on crude oil. The price trend of crude oil and natural gas will support greater liquids and shale exploration in a number of international areas, just like it has been done in North America over the past few decades. The relatively high price also supports large development projects offshore. The drilling fluids market is growing at 7.5% from 2013 to 2018 which directly complements the drilling activities.

Almost 13% of the oil and gas reserves are found in offshore waters. Around 10% of those are found in deep water and around 3% in ultra-deep waters. Technological developments coupled with high demand are increasingly putting pressure to increase the depth of wells which in turn results in various damages to the drill bit and pose several challenges. To overcome these challenges, specialized drilling fluids are required. Hence, the critical factors responsible for the growth of the drilling and completion fluids market include growth in drilling activities globally, rise in deep drilling activities onshore and offshore, discoveries of new CBM and shale reserves, and the emergence of nanotechnology. The key concerns in the industry pertain to the environmental impacts and damages to the ecosystem due to discharge of highly toxic chemicals.

Shale Boom: Driver of drilling fluids and completion fluids market

Global drilling fluids market is witnessing a decent growth based on the rising world energy demand, shale boom, and deep water drilling activities. The biggest markets for drilling and completion fluids are North America, Asia-Pacific, and Europe. The shale boom is driving the demand for drilling and completion fluids in these regions along with deep water drilling activities.

M-I SWACO (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Newpark Drilling (U.S.), Tetra Technologies Inc. (U.S.), and Anchor Drilling (U.S.) are the major players constituting major share of the global drilling fluids market.

Research and Markets has announced the addition of the "Drilling Fluids (Drilling Mud) Market & Completion Fluids Market by Types, Application Areas & Geography - Forecast to 2018" report to their offering. Learn More >

CONTINUATION:

Controlling and Monitoring Processes and Automation Equipment at Oilfield Equipment & Services

Drilling and Completion Fluids Class I Div 2, ATEX zone 2 HMI Touch Panel PCHMI and visualization solutions for drilling rig applications from AIS help oil & gas end-users deal with and solve the several common problems they confront with in their operations including: the lack of experienced labor and personnel to control and monitor the drilling equipment, the need to reduce costs and have better metrics, minimize operator errors and improve overall operator safety. Utilizing AIS’s HMI open system architecture will improve the overall maintainability of their site.  Learn More >

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