Pressure Pumping Market- Industry Insights,
Trends, Outlook, and Opportunity Analysis,
2018-2026
Pressure pumping involves propagation of cracks and fractures through rocks by
using pressurized fracturing fluid and pumping cement into well bore to complete it.
Pressure pumping is required for stimulation, completion, intervention and other
processes related to well lifecycle. It is used for extraction of resources from
resources such as tight gas, shell gas, and unconventional liquids. They are mainly
used for extraction of resources that are difficult to recover by regular drilling and low
permeability reserves. Pressure pumping services are primarily used by sand control
services, acidizing services, cementing services and hydraulic fracturing services.
The advantage of using pressure pumping services is the enhancement of
productivity of reserves which, in turn, improves asset value and investment return.
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The increasing energy requirements, availability of advanced technology and
increasing investments in unconventional and offshore exploration are expected to
drive the pressure pumping market in North America. The growing concern about the
environmental damage caused by pressure pumping such as seismic activities and
water contamination are the major factors hindering the growth of pressure pumping
market.
North America Pressure Pumping -Market Outlook
The pressure drilling market is largest in U.S., due to rising shale gas plays and
increasing oil and gas exploration. According to Annual Energy Outlook 2017,
published by U.S. Energy Information Administration, the natural gas production may
account for 40% of U.S. energy production by 2040, which will augment pressure
pumping market. However, the increasing environmental concerns will restrain the
growth of pressure pumping market in U.S.
The oil and gas industry in Canada has a lucrative growth, due to increased
exploration, drilling, production, refining activities. Furthermore, advancement in
science and technology, availability of experienced financing institutes for oil and gas
sector, abundant resources, and proficiency in remote location operation are factors
fueling the growth of oil and gas industry which, in turn, is propelling pressure
pumping market growth in Canada. According to Natural Resources Canada, oil
sands production is estimated to double to 3 mb/d by 2020, while production of crude
oil from oil sands will exceed 4.5mb/d by 2025. This will augment the demand for
pressure pumping in Canada.
Key Players in the North America Pressure Pumping Market
The pressure pumping market players are adopting various strategies such as
merger and acquisition to retain their market position. For instance, in April 2017,
Patterson-UTI Energy merged with Seventy Seven Energy Inc. Some market players
operating in pressure pumping market in North America include Halliburton, RPC,
Inc., Baker Hughes, Calfrac Well Services Ltd, Schlumberger, Frac Tech Services,
International Step Energy Services Ltd., Trican Well Services Ltd., Key Energy
Services, Sanjel Energy Services, Liberty Oilfield Services, Consolidated Oil Well
S2ervices, LLC Magnum Cementing Services, and Ltd. Nine Energy Services.
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Pressure Pumping Market report categorizes North America market by Well Type (Vertical Wells, Horizontal Wells), By Service Type (Cementing Services, Remedial cementing, Primary cementing, Hydraulic Fracturing, Others), and By Resource Type (Unconventional, Conventional) - Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

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