The Status of Onshore Drilling Rampup in USA

Abstract:

The world’s oil and gas market had entered into a downturn period since the free fall of international oil price in June 2014. Then, US onshore drilling industry began to ramp up since a great abundant shale oil was discovered in Permian Basin in Q2 2016. Contractors and operators of all sizes with rig fleet are flocking to Permian Basin and other plays. The upturn of the oil market has been promoting upgrade of drilling rig. Factory drilling mode, Highspec AC and SCR top drive rigs with powerful mud pumps and walking or skid systems, as well as bifuel capabilities have been the most in demand, the majority of older mechanical rigs should be retired. On the other hand, a lot of excellent technicians and skilled workers were cut and lost during the downturn period, so that may companies adopt effective measures to keep experienced employee and train the new drilling crew.