Global Hydraulic Fracturing Market Projected to Reach $81.10 Billion By 2024

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Hydraulic fracturing is a technique that has been commercially in use since the last few decades for the extraction of crude oil and natural gas. The process of hydraulic fracturing mainly consists of injection of water along with the propping agents and chemical additives at a very high pressure and temperature to create and open a network of fractures to enhance the rock permeability. Initially, the fracturing fluid is injected into the formation at a high pressure of approximately 600 bars. The fluid pressure creates fractures that increase in width as the injection continues. Fractures can stretch over tens or hundreds of meters away from the wellbore.            

 Majority of the injected hydraulic fracturing fluid flows back to the surface, while the rest remains inside the wellbore. Flow-back water also comprises saline water mixed with dissolved minerals from the rock formation. The flow-back water is either collected in tanks/pits for reuse or is either disposed. The network of fractures that is created links the shale formation to the well and allows the gas to travel from the rock pores to the surface. Hydraulic fracturing of unconventional reservoirs is basically combined with horizontal drilling. Fractures are created at set intervals along the horizontal wells. Stages are fractured sequentially, starting with the farthest away and moving towards the start of the well. Fracturing fluids are generally a mixture of water, chemical additives, and propping agent. The composition of the hydraulic fracturing fluid is highly fluctuating and majorly depends on the geological properties of the rock formation.         

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In the current scenario, plug and perf and sliding sleeves are the most commonly used techniques for hydraulic fracturing. Plug and perf is a widely used technique for wellbore completions. It is a cased hole completion technique. It requires bridge plug and a perforation gun to be placed at a specific depth in a wellbore. Once the plug is set, the perforation gun directly fires holes in the casing, thereby piercing the reservoir section between the plugs. Hydraulic fracturing process then takes place and fracturing fluid is then pumped in. The process is then repeated at each and every stage. Sliding sleeves is a newer technique in comparison to plug and perf. It is especially designed to speed up the fracturing jobs. Sliding sleeves is an open hole completion technique through which multiple stages can be easily fractured in a single pumping session. High efficiency is achieved by performing multiple fractures in a single pumping session, thereby resulting in a significant time and cost savings. Hazards associated with drilling activities also get reduced as multiple fractures are carried out in a single session.        

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Hydraulic fracturing is utilized in North America on a large scale owing to the presence of vast unconventional reserves in the region. A large number of wells in the U.S. are stimulated by hydraulic fracturing. In North America, hydraulic fracturing is being implemented since over 60 years on crude oil and natural gas wells. The shale gas reserves in North America are attracting upstream companies from across the globe as shale gas is a clean and green fuel compared to oil and coal. Also, the successful evolution of shale gas reserves has reduced North America’s dependency on foreign crude oil and natural gas imports from Middle East. The shale rock segment in North America is considered to be a game changer as it has the potential to transform the entire oil and gas sector across the globe. The output received from hydraulically fractured wells is around 40%-45% of the crude oil production and 65%-70% of natural gas production in the U.S. The hydraulic fracturing market in the U.S. ensures energy security, economic growth, and large employment opportunities. Barnett, Marcellus, Utica, and Fayetteville are the major shale gas basins in the region.    

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