But by 2017 that figure dropped to just over 20% in 2017 before falling sharply again to the 2018 level of around 16%. The individual market share for the legacy service companies are:Īs recently as 2013, these companies collectively shared 28% of the Texas DD/MWD market, by far the largest in North America for such services. The market is heavily dominated by everybody outside of that group-private equity, independents, and publically traded companies,” said David Gibson, founder of Gibson Reports, which tracks DD/MWD activity for the shale sector. “Schlumberger, Halliburton, Baker Hughes, and Weatherford, they only make up 16% of the total footage drilled in the state. The DD/MWD arena has become so crowded that the “big four” service companies have seen their positions shrink substantially since the start of the bust, according to regulatory data compiled by Gibson Reports. In 2019, there were 78 DD/MWD companies operating in Texas-with a little under half working out of Midland County, the Permian Basin’s primary hub. This is particularly the case for directional drilling (DD) and measurement-while-drilling (MWD)-two cornerstone technologies required to construct a horizontal wellbore. Since the onset of the downturn, the Texas drilling market has become one of the most competitive spaces in the upstream industry.
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