Artificial Lift

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Artificial Lift

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The Artificial Lift Market report quantifies and forecasts the global artificial lift market by service company and by lift type for the period 2007 through 2020.  For customers interested in an evaluation of the artificial lift industry, this report is the right tool.

Clients subscribing to the 100-page Artificial Lift Market report will receive complete and revised market reports each quarter for one year.  In these years of change in the industry, Spears is committed to keeping clients up to date on commercial, technical and activity trends within the sector.

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After falling sharply from its peak in 2014, the artificial lift market has been digging itself out of a hole, climbing to almost $11B in 2019 with further growth projected for 2020.  Competition within the sector is evolving as firms position themselves following the GE/Baker Hughes and Halliburton/Summit ESP acquisitions and Dover’s divestiture of its Energy Services group.  The current report identifies high-growth new companies like Valiant Artificial Lift and Alkhoreyef Petroleum in the Middle East: 

GLOBAL ARTIFICIAL LIFT MARKET BY SERVICE COMPANY

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Artificial lift is installed in wells that need to supplement the natural reservoir drive in boosting fluids out of the wellbore.  90 percent of the existing producing oil wells and gas wells requiring water removal utilize some type of artificial lift.  Many oil wells that are initially free-flowing will require artificial lift as they mature, particularly since most begin to produce water. 

The main types of artificial lift used are rod-lift systems, gas lift systems, electric submersible pumps (ESPs) and progressing cavity pumps.  Other lift systems include plunger lift and hydraulic lift. Depth of the well, well trajectory, volume of fluid to be pumped, and the properties of those fluids (e.g. whether they are corrosive) are the primary factors in choosing the type of artificial lift to be installed. Other factors are the amount of gas produced, the pressure at the wellbore, and the presence of sand. 

The Artificial Lift Market report covers the following topics:

·      Market drivers

o   a. Global oil and gas demand and supply

o   b. Oil and gas prices

o   c. Drilling activity by region

o   d. Producing wells by region

·      Artificial lift market size ($) and growth by segment

·      Trends in operators’ artificial lift practices

·      Regulatory and technological change

·      Profile of leading artificial lift firms

o   Revenues by company, 2007-present

The artificial lift market tracks the big drivers of the industry, such as well servicing activity in the US land market.  The chart below plots well servicing revenue by basin since 2014, with a projection through 2020:

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The report discusses trends in the industry that pose challenges to ongoing market growth, such as the ever-increasing lateral lengths in every US basin.  Extremely long laterals now dominate the US land market, which is the world’s largest consumer of artificial lift products and services.  This tends to REDUCE the number of new wells needed in the future, which will have a negative impact on demand for lift:

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 Each of Spears’ oilfield market reports is built from the ground up.  We meet with or have conversations with hundreds/thousands of participants in the industry each year, from lift manufacturers to supply chain specialists to E&P production managers to procurement teams…  These conversations are then married to our data-rich analysis that comes from our sister company, Oilfield Logix, who evaluates the drilling and completion techniques of every well drilled in the US.  Lastly, we constantly peer review our analysis with people working in the industry each day. 

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The Artificial Lift Market report is available for immediate digital download as a slide deck with all supporting tables and graphs upon purchase.