Directional Drilling Market 2015-2019
About directional drilling
Directional drilling is a practice of controlling the deviation and direction of a wellbore in order to access the predetermined target zone. The major application of directional drilling are mentioned below:
Technavio Announces the Publication of its Research Report – Global Directional Drilling Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Directional Drilling Market: Baker Hughes, Gyrodata, Halliburton, Schlumberger and Superior Drilling Products
Other Prominent Vendors in the market are: Cathedral Energy Services, Calmena Energy Services, General Electric Oil & Gas, Leam Drilling Systems, the Directional Drilling Company, Michels Corporation, and Nabors Industries.
Commenting on the report, an analyst from Technavio’s team said: “The high demand for oil and gas and the rising number of maturing oilfields have increased the adoption of digital oilfield technology. Advances in digital oilfield technologies will help improve production rates, redevelop existing oilfield wells, facilitate production from unconventional resources such as shale formation, and improve well management. These advanced drilling technologies with remote monitoring and intelligent well completion will significantly increase the efficiency, control, and monitoring of the well. ”
According to the report the increased consumption and demand for oil and gas from various end-user segments is driving the global directional drilling market. Vendors and governments of various countries are therefore investing in directional drilling to enhance the global oil and gas production and maintain the demand-supply balance in the market. The diminishing oil production from existing reserves will further drive the market in terms of increased applications and drilling of multilateral and extended reach wells.
Further, the report states that the decline in prices is expected to be persisting during the forecast period and reduce investments in drilling activities, which will negatively impact the directional drilling services market.
Baker Hughes, Gyrodata, Halliburton, Schlumberger, Superior Drilling Products, Cathedral Energy Services, Calmena Energy Services, General Electric Oil & Gas, Leam Drilling Systems, the Directional Drilling Company, Michels Corporation, Nabors Industries.
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