Wireline Logging Services Market By Trends, Technology and Key Players: Halliburton, Baker Hughes, Weatherford International, Superior Energy Services, Pioneer Energy Services, OilSERV, Nabors Industries
Cased hole and open hole are the major hole type segment in the wireline logging services market. Cased hole accounted for over 75% of the industry share in 2014 and is expected to continue its dominance. It is projected to surpass USD 18.5 billion by 2022 with 6.6% CAGR from 2015 to 2022.
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Developments in directional drilling as well as reservoir stimulations are likely to change the U.S. energy scenario over the time frame. As the operating water depth limit for production and drilling has exceeded to over 10,000 feet from a few hundred feet, specialized equipment such as Radio Frequency Identification (RFID) chips at the seabed and surface are required for executing drilling and production activities.
This equipment aids in tracking data when operating downhole and exposure to pressure, temperature and corrosive environments. In addition it can also accurately determine the position for repair and maintenance.
E-Line services are expected to experience massive growth opportunities owing to broad application across numerous E&P activities. In addition, its ability to transmit electric data by providing a communication pathway through downhole equipment and the surface is predicted to further contribute to growth.
By technology, E-line services uses high mechanical strength steel armored cables for transmitting well logging data continuously to the surface. Other technologies include slickline services which controls opening and closing access to zones along with substitution of gas lift valves. Furthermore, it is enabled to measure well depth, temperatures, perforation and down-hole pressure. The key benefits offered include cost saving, safe operation owing to reliable pressure control and less environmental degradation.
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Slickline technology was valued at over USD 6 billion in 2014 and is forecast to grow at 7.4% CAGR from 2015 to 2022. The technology is predicted to witness substantial growth prospects owing to its high importance for maintaining the production levels of well through intervention and logging processes.
North America held the highest wireline logging services market share in 2014 and is expected to lead over the forecast period. This can be credited to increasing number of wells both in onshore and offshore areas and growing shale activities across the region. Latin America is projected to witness substantial growth owing to rising energy demands.
U.S. wireline logging services market growth can be associated to rising number of wells in both onshore and offshore areas accompanied by increasing shale exploration.
Wireline logging services market share is dominated by Schlumberger, Halliburton, Baker Hughes, Weatherford International, Superior Energy Services, Pioneer Energy Services, OilSERV, and Nabors Industries.
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