Drilling is an integral part in exploration and production activities. There are various services that are associated with drilling such as contract drilling, directional drilling, and logging while drilling which are further discussed in this report.
The growth of the drilling market is influenced by various stakeholders such as raw material suppliers, equipment manufacturers, drilling contractors, oilfield rental companies, oilfield operator companies, government and research organisations, power and energy associations, and environment research institutes.
Drilling is advancing beyond the conventional mud motor applications. With the increase in demand for energy, and the depletion of the existing reservoirs, it has become important to go for the untapped reservoirs with typical geological structures. But, this cannot be achieved effectively with the existing vertical well technology; companies need to go for other/horizontal drilling technologies to explore the most difficult structures.
Technological and organizational improvements have enabled faster drilling rates, greater drilling density, and higher new-well production. These have all been important in maintaining higher production rates.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the major drilling services market players, such as Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Weatherford (Switzerland), and Superior Energy Services (U.S.).