North America Well Intervention Market Forecast to 2024: Halliburton, Schlumberger, BHGE, Weatherford, and C&J Energy Dominate the $4.2 Billion Market

DUBLIN, Oct. 24, 2019 /PRNewswire/ -- The "North America Well Intervention Market by Service (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation), Type (Light, Medium, Heavy), Application (Onshore, Offshore), Well Type (Horizontal, Vertical), Country - Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The North America well intervention market was valued at USD 2.9 billion in 2018 and is projected to reach USD 4.2 billion by 2024, at a CAGR of 6.5% during the forecast period.

North America well intervention market is dominated by a few major players that have a wide regional presence. The leading players in the North America well intervention market are Halliburton (US), Schlumberger (US), BHGE (US), Weatherford (US), and C&J Energy Services (US).

Well intervention operations are done after particular intervals as per the requirement of the well. Few oil & gas wells perform constantly throughout their lifespan. However, with time, the well parts and equipment worn out, tubulars develop leaks, and the production declines due to pressure failure. The upstream operators demand well intervention operations in order to address these challenges. Intervention services are economical and help the operators reduce the operational cost of production.

Well intervention operations are done using the slickline, wireline, or coiled tubing tools to clear the sand from falling into the well; remove the paraffin, hydrates; or clear the debris through the fishing operations. Moreover, the pressure is also lifted with the help of artificial lifts, which is done with the help of Electrical Submersible Pumps (ESPs), so that the trapped oil & gas comes to the surface.

The major players in the global well intervention market, such as Schlumberger, Halliburton, C&J Energy, Weatherford, and BHGE, have comparable strengths in terms of customer base, diversified products & services portfolios, technological capabilities, and diversified state-level presence in the US and Canada. They cumulatively hold a significant portion of the total market share.

The existing players have constantly been adopting both organic and inorganic growth strategies to mitigate any decline in their respective market share. Contracts & agreements and new product launches are the most widely adopted strategies by these players to ensure their market dominance.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.2.1 North America Well Intervention Market, By Service: Inclusions vs Exclusions
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Limitation
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Scope
2.2.1 Scope of North America Well Intervention Services Considered Under the Report Mainly Include:
2.3 Key Influencing Factors/Drivers
2.3.1 Well Count
2.3.2 Rig Count
2.3.3 Production
2.3.4 Crude Oil Prices
2.4 Market Size Estimation
2.4.1 Ideal Demand-Side Analysis
2.4.1.1 Assumptions
2.4.1.2 Calculation
2.4.2 Supply-Side Analysis
2.4.2.1 Assumptions
2.4.2.2 Calculation
2.4.3 Forecast
2.5 Market Breakdown & Data Triangulation
2.6 Primary Insights

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in North America Well Intervention Market During the Forecast Period
4.2 North America Well Intervention Market, By Country
4.3 US Well Intervention Market, By Well Type & States
4.4 Market, By Application
4.5 Market, By Service
4.6 Market, By Intervention Type
4.7 Market, By Well Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Well Intervention Services to Ramp Up Production From Maturing Oil & Gas Fields
5.2.1.2 Proliferating Shale Activities in the US and Canada are Increasing the Demand for Well Intervention Services in North America
5.2.1.3 Expanding the Offshore Reach of Oil & Gas Exploration & Production in the Gulf of Mexico and East Offshore Canada
5.2.2 Restraints
5.2.2.1 Strict Government Regulations on Drilling Activities
5.2.2.2 Fluctuating Oil Prices are Affecting Operational Spending on Well Maintenance and Well Intervention Services
5.2.3 Opportunities
5.2.3.1 Digitalization of Intervention Services
5.2.3.2 Rising Exploration & Production Activities are Expected to Drive the North America Well Intervention Market
5.2.4 Challenges
5.2.4.1 Challenging Intervention Operations in High-Pressure High-Temperature (HPHT) Drilling
5.2.4.2 Application of Artificial Lift Techniques of Well Intervention in Horizontal Wells
5.3 Supply Chain Overview
5.3.1 Key Influencers

6 North America Well Intervention Market, By Service
6.1 Introduction
6.2 Logging & Bottomhole Survey
6.2.1 Operators are Determined to Better Understand the Geology of the Reservoirs, Which is Driving the Logging & Bottomhole Survey Service Across North America
6.3 Tubing/Packer Failure & Repair
6.3.1 Growing Focus for Maintaining the Well Integrity During Well Life is Driving the Tubing/Packer Failure & Repair Well Intervention Services Segment in North America
6.4 Stimulation
6.4.1 Demand for Hydraulic Fracturing in the US Offers A Lucrative Opportunity to Stimulation Service Providers
6.5 Remedial Cementing
6.5.1 Complexity in Carrying Out Squeeze Jobs in Offshore and Shale Reserves is Expected to Drive the Remedial Cementing Segment in North America
6.6 Zonal Isolation
6.6.1 Increase in Oil & Gas Production From Mature & Horizontal Wells is Expected to Drive the Zonal Isolation Market
6.7 Sand Control
6.7.1 Redevelopment of Aging Reservoirs in Oil Sands in Canada Provides A Lucrative Opportunity for the Sand Control Market
6.8 Artificial Lift
6.8.1 Increasingly Challenging Production Environments From Mature Oil & Gas Fields
6.9 Reperforation
6.9.1 Increasing Production From Mature Wells is Likely to Support the Growth of the Reperforation Segment
6.10 Fishing
6.10.1 Prevention of Significant Nonproducing Time in the Oil & Gas Wells is Driving the North American Fishing Service Segment
6.11 Others

7 North America Well Intervention Market, By Intervention Type
7.1 Introduction
7.2 Light Well Intervention
7.2.1 Increasing Demand for Riserless Light Well Intervention (Rlwi) Vessel Assists the Growth of the Light Well Intervention Segment
7.3 Medium Well Intervention
7.3.1 Medium Well Intervention Segment is Growing at the Highest Rate Owing to the Rising Developments of Unconventional Reserves With the Support of Snubbing Units
7.4 Heavy Well Intervention
7.4.1 Developments in Mature Fields Support the Adoption of Heavy Well Intervention Services

8 Well Intervention Market, By Well Type
8.1 Introduction
8.2 Horizontal Well
8.2.1 Wells Drilled Horizontally Into Tight Oil, and Shale Gas Formations Continue to Account for an Increasing Share of Horizontal Wells in North America
8.3 Vertical Well
8.3.1 Demand for Well Intervention Services in the Ageing Oil & Gas Fields is Likely to Drive the Vertical Well Segment

9 North America Well Intervention Market, By Application
9.1 Introduction
9.2 Onshore
9.2.1 Growing Shale Activities in the Onshore Region and Rising Rate of Onshore Oilfields Reaching Maturity Drive the Onshore Well Intervention Services
9.3 Offshore

10 North America Well Intervention Market, By Country
10.1 Introduction
10.1.1 By Country
10.2 US
10.2.1 By Service
10.2.2 By Intervention Type
10.2.3 By Well Type
10.2.4 By Application
10.2.5 By States
10.2.6 Texas
10.2.6.1 Huge Amount of Shale Resources and Significant Drilling Activities are Driving the Well Intervention Market in Texas
10.2.7 Kansas
10.2.7.1 New Oil & Gas Field Discoveries Bring Opportunities to the Kansas Well Intervention Market
10.2.8 California
10.2.8.1 Urge for the Redevelopment of Mature Oilfields in California is Driving the Well Intervention Market in the State
10.2.9 Oklahoma
10.2.9.1 Continuous Well Drilling Activities in Oklahoma to Drive the Well Intervention Market in the State
10.2.10 Pennsylvania
10.2.10.1 Advances in Proven Technologies are Delivering New Opportunities in Oil & Natural Gas Exploration & Production Around Pennsylvania, Thereby Driving the Well Intervention Services Market
10.2.11 Colorado
10.2.11.1 Huge Oil & Gas Reserves in Colorado and Continuous Production From the State Drive the Colorado Well Intervention Market
10.2.12 North Dakota
10.2.12.1 Demand for Hydraulic Fracturing Services in the Bakken Ford is Likely to Drive the North Dakota Well Intervention Market
10.2.13 Illinois
10.2.13.1 Shale Development Prospects in the Near Future are Likely to Drive the Well Intervention Market in Illinois
10.2.14 New Mexico
10.2.14.1 New Discoveries in New Mexico Would Drive the Well Intervention Market in the State
10.2.15 West Virginia
10.2.15.1 Low Oil Well Drilling Activities are Hampering the Well Intervention Market in West Virginia
10.2.16 Rest of the US
10.3 Canada
10.3.1 By Service
10.3.2 By Intervention Type
10.3.3 By Well Type
10.3.4 By Application
10.3.5 By Province
10.3.6 Alberta
10.3.6.1 Huge Potential From Shale Reserves in Alberta Brings Opportunities to the Alberta Well Intervention Market
10.3.7 British Columbia
10.3.7.1 Innovations From Hydraulic Fracturing Services are Driving the Well Intervention Market in British Columbia
10.3.8 Saskatchewan
10.3.8.1 Focus on Increasing Heavy Oil Production is Driving the Saskatchewan Well Intervention Market
10.3.9 Rest of Canadian Province

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping, 2018
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic
11.2.4 Emerging
11.3 Market Share Analysis, 2018
11.4 Competitive Scenario
11.4.1 New Product Launches
11.4.2 Expansions & Investments
11.4.3 Contracts & Agreements
11.4.4 Mergers & Acquisitions

12 Company Profiles

• Altus Intervention
• Archer
• Baker Hughes Incorporated
• Baker Hughes, A Ge Company
• Basic Energy Services
• Bhge
• C&J Energy Services
• Calfrac Well Services
• Expro Group
• GE Oil & Gas
• Halliburton
• Key Energy Services
• Legend Energy Services
• Nine Energy Services
• Oceaneering
• Pioneer Energy Services
• RPC
• Schlumberger
• Step Energy Services
• Superior Energy Services
• Trican
• Weatherford
• Welltec

For more information about this report visit https://www.researchandmarkets.com/r/rugeo7

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com