The oil and gas wells drilling services industry includes companies primarily engaged in oil and gas wells drilling services for others on a contract or fee basis. This industry also includes contractors specializing spudding in, drilling in, redrilling, and directional drilling. This market covers outsourced drilling services sold on a contract basis to oil and gas extraction companies and does not include any in-house drilling services of oil and gas extraction companies.
The top five companies covered are Schlumberger Ltd., Halliburton, Transocean Ltd., Weatherford International plc, and Baker Hughes Incorporated. Schlumberger Ltd. was the largest company in the oil and gas wells drilling services market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Oil and Gas Wells Drilling Services Market Size
The global oil and gas wells drilling services market was valued around $243.6 billion in 2017. Middle East was the largest region in the oil and gas wells drilling services market in 2017, accounting for around 25% of the total market. The USA was the largest country in the market accounting for around 12% of the total market.
Oil and Gas Wells Drilling Services Market Trend
Advanced drilling technology services such as geosteering and measurement while drilling technologies (MWD) are aiding companies in drilling process by providing access to real time data. Geosteering technology provides real time information in the form of surveys, imaging studies, 2D and 3D projections of the terrain around the oil reservoir by continuous adjustment of placement of the drill head above the oil well.
Oil and Gas Wells Drilling Services Market Segmentation
The oil and gas wells drilling services market includes Oil and Gas Wells Drilling Services, Oil And Gas Supporting Activities.