Future Looks Rosy for Oilfield Products and Servicesblueskyadmin
According to the latest report, the demand for services and products used in the development of tight oil reservoirs and shale gas is expected to exceed $90 billion by 2017. Such rapid growth with the production of these untraditional oil resources is also creating a ripple effect throughout the American economy. Following years of declines, crude oil production is finally on the rise again in the United States. Additionally, abundant sources of low-cost natural gas are further stimulating the American manufacturing sector. Such gains will continue to provide significant opportunities for oilfield service companies, including carbon dioxide removal and natural gas production companies.
Such demand for oilfield products and services will be driven by improved overall levels of industry activity as well as by increasing well depths. Continued efforts to maximize the output of wells will also serve to drive the demand for such products. Increasing amounts of fracturing proppants and fluids will also be required as the use of high volume hydraulic fracturing continues throughout many locations.
As oilfield plays make their way into the development stage, it will become increasingly important for operators to work toward optimizing process designs. At Blue Sky, we are committed to providing operators with the latest and most efficient solutions for every stage of development and operation. We continually look for ways to help our clients work more efficiently and reduce operational costs for natural gas processing and other treatments.
In recent years, there has been significant development of new and even unconventional resource development in areas that were once deemed unrecoverable. This has actually resulted in a backlog of wells in need of completion, in some instances. A shortage of completion crews and a lack of available infrastructure have proven to be problematic in terms of completing new wells, in many cases. At the same time, such unconventional development has also led to an increased demand on a regional level for numerous products and services required for well drilling as well as operation.
Over the course of the next decade, many of these tight oil plays and shale gas plays will begin reaching maturity. It is largely anticipated that this will serve as an impetus for the demand of workover and production services while also prompting continued drilling of even more new wells to support output levels.
The ability to work in remote environments will also likely continue to evolve, further driving the need for revolutionary products and services designed specifically to meet the needs of working in such challenging environments. Throughout the world, gas exploration in remote areas is already on the rise. While locations such as Prudhoe Bay on the North coast of Alaska and the Campos Basin in offshore Brazil are certainly distant, oil and gas companies are now turning to innovative technology solutions to effectively manage those locations. In fact, with the latest designs, it is often possible for an oil and gas production company to actually save a significant amount of money while still managing a remote operation without on-site supervision.