Pressure pumping is a process where the fractures are propagated via layers of rock with the assistance of pressurized fracturing fluid and the cement is pumped for completion into the well bore. Pressure pumping is majorly employed in the extraction of resources from low permeability reservoirs such as unconventional liquids, shale gas, and tight gas, which are otherwise very hard to extract with normal drill processes. Gas and oil wells have to be set up using the pressure pumping procedure all over the lifecycle. The depletion in reservoir fields of shallow and onshore water has compelled oil and gas companies to aim on the deepwater areas and unconventional onshore which need pressure pumping services to remove hydrocarbons.
Hydraulic fracturing led the market, adding up for a major share of the global income. Acceptance of hydraulic fracturing is most in North America and the trend is claimed to endure in the coming period.
Cementing added up for a major share of the global income. Stable oil prices and consistent requirement for drilling activities in the US is expected to keep the requirement for cementing services solid over the coming period. On the other hand, rising number of drilled but uncompleted wells in the US can hamper development over the coming period.
Key Players in the Pressure Pumping Market Report
The major players included in the global pressure pumping market forecast are Baker Hughes Incorporated, China Oilfield Services Ltd., Schlumberger Limited, Weatherford International Limited, Halliburton Company, Premier Pressure Pumping, Frontier Oilfield Services Inc., Universal and Weatherford International, Trican Well Services Limited, Superior Energy Services, and Calfrac Well Services Ltd.
Pressure pumping market is expected to witness a solid development due to increasing activities in the production and exploration of non-conventional shale gas. These are paired with further processes such as sand controlling, enhanced oil recovery (EOR), services cementing, and acidization. Pressure pumping services are executed in the mature reservoirs which encounter the difficulty in oil extraction. The huge requirement for energy and rise for explorations, recoverable resources, and productions are the powering factors for the rising demand growth of the global pressure pumping market. Heavy spending made by the gas and oil firms in the oil drilling activities are also powering the global pressure pumping market. Concerns related to contamination of water, high installation cost, earth seismic activity, and strict government regulations are few factors that may limit the growth of pressure pumping market.
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