Bharatbook added a new report on “Well Stimulation Materials” which tells US demand for oil and gas well stimulation materials. Well Stimulation Materials to 2014
Rebounding oilfield activity to fuel US well stimulation materials demand
US demand for oil and gas well stimulation materials is projected to post doubledigit gains and exceed $7 billion in 2014, buoyed by renewed efforts to reduce dependence on foreign energy sources, particularly from unfriendly or unstable countries. Well stimulation services are necessary in order to maximize the output from aging US oil and gas fields, and to optimize production in unconventional settings such as tight gas, shale and coal bed methane. The Haynesville Shale in East Texas/Western Louisiana and the Marcellus Shale in the Eastern US are among the areas generating the most enthusiasm in terms of their productive potential; and hydraulic fracturing is critical to the successful development of these formations.
In conventional production environments, the increasing prevalence of deeper wells in harsher environments — such as in extremely deep offshore waters — will increase the demand for higher performance engineered ceramic proppants and other value-added materials. The exploitation of coal beds and tight sands for the production of natural gas will intensify the need for hydraulic fracturing systems that are less damaging to low permeability formations. Finally, despite a retreat from the lofty prices of 2007 and 2008, oil and gas prices are expected to remain historically high in the coming years, which will encourage new drilling and efforts to maximize the output from marginally producing wells. (more…)