After falling from $16.5 billion in 2014 to $7.1 billion in 2016, the directional drilling services market rebounded 16% in 2017 as increased US horizontal drilling activity and longer per-well lateral length has more than offset faster rate-of-penetration. Growth in the directional drilling services market is projected to accelerate over the near term in response to continued gains in US drilling activity and lateral length.
Developed in partnership with Oilfield Logix, Spears evaluated the directional drilling programs on ~15,000 horizontal wells drilled across the US during the period 2013-2017 to develop a robust description of North America, which represents about a quarter of the global market.
Rotary steerable technology has become the predominate form of directional service worldwide and is moving onshore in the US due to operators embracing extended reach drilling in places like the Midland Basin of the Permian Basin.
The report ranks regional market shares by service company, ranks regional service company performance, identifies vendor-customer relationships for each play and quantifies the market in terms of dollars, wells and feet drilled directionally.
The report includes a profile of the main directional drillers, along with an estimate of directional drilling sales over the last decade:
Clients of the Directional Drilling Market report receive Spears’ proprietary forecast of drilling activity for each region. In the US we include the leading E&P companies in each region.
The slide deck with all supporting tables and graphs embedded is available for immediate digital download upon purchase.