The soaring energy demand is pressurizing the operators to increase the production of hydrocarbons. The oil & gas companies have started to change their exploration focus towards the unconventional and deep hydrocarbon reservoirs such as shale gas, Coal Bed Methane (CBM), tight gas, and heavy oil. The petroleum industry, currently, has advanced IT-based machinery and software to perform operations in different unconventional and deep reservoir conditions. This paves the way for new age technology as the tool to execute stiff operations. This trend of the industry makes it lucrative for both equipment manufacturers and service operators.
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The E&P companies are focusing on increasing the hydrocarbon reserves basket, with new discoveries, resulting in a continuous rise in world’s oil & gas reserves. This increase of the exploration and production activities is expanding the well completion equipment and services market as new fields are expected require well completion tools such as packers, sand control tools, multi-stage fracturing tools, liner hangers, safety valves, and smart wells, among others.
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To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the major well completion equipment and services market participants, which combines manufacturers as well as service providers. The key players of the North American well completion equipment and services market are Halliburton Co. (U.S.), Schlumberger Ltd. (U.S.), Weatherford International Ltd. (Ireland), Baker Hughes (U.S.), and Superior Energy Services (U.S.), among others.
