Spears & Associates’ proprietary 60-page Artificial Lift Market report dissects the global artificial lift industry, a market that peaked over at $15 billion in 2014 before the collapse in oil prices drove the market to $8 billion in 2016. Spears projects that the global artificial lift market will rise to almost $10 billion in 2017, propelled by US land drilling.
Clients subscribing to the Artificial Lift Market report will receive complete and revised market reports each quarter for one year. In these years of change in the industry, Spears is committed to keeping clients up to date on commercial, technical and activity trends within the sector.
Artificial lift is installed in wells that need to supplement the natural reservoir drive in boosting fluids out of the wellbore. 90 percent of the existing producing oil wells and gas wells requiring water removal utilize some type of artificial lift. Many oil wells that are initially free-flowing will require artificial lift as they mature, particularly since most begin to produce water.
The main types of artificial lift used are rod-lift systems, gas lift systems, electric submersible pumps (ESPs) and progressing cavity pumps. Other lift systems include plunger lift and hydraulic lift. Depth of the well, well trajectory, volume of fluid to be pumped, and the properties of those fluids (e.g. whether they are corrosive) are the primary factors in choosing the type of artificial lift to be installed. Other factors are the amount of gas produced, the pressure at the wellbore, and the presence of sand.
The Artificial Lift Market report covers the following topics:
- Market drivers
- a. Global oil and gas demand and supply
- b. Oil and gas prices
- c. Drilling activity by region
- d. Producing wells by region
- Artificial lift market size ($) and growth by segment
- Trends in operators’ artificial lift practices
- Regulatory and technological change
- Profile of leading artificial lift firms
- Revenues by company, 2006-2016
The Artificial Lift Market report is available for immediate digital download as a slide deck with all supporting tables and graphs upon purchase.