Oil and gas industry is experiencing a boom from several years. Increasing energy demand coupled with the increasing oil prices has made this an attractive market for investing companies. Oil and gas exploration and production companies are investing heavily to increase the production and meet the energy demand. This boom has resulted in the increase in revenue for oilfield services market. Drilling collar is rental equipment and is used during the drilling of a well. The number of well being drilled is increasing every year and so as the demand of drilling collar.
A drill collar is a thick walled tubular pipe made from solid bars of steel. The material used to make a drill collar is generally plain carbon steel but sometimes various alloys are used such as non magnetic nickel copper alloys and other non-magnetic premium alloys. The bars of steel used to make are drilled from one end to another so as to allow drilling mud to pass through it. Drill collars are screwed together along with other downhole equipments or tools to make a bottom hole assembly. During drilling a well, a drill collar is used in drilling string and is an important part of the bottom hole assembly (BHA). Drill collar is primarily used in drill string to apply downward force on the drill bit to efficiently break the rocks.
Drill collar market can be segmented on the basis of type into standard, spiral and square drill collar. Standard collar are about 9 meters in length and round in shape. While drilling a small diameter hole and drilling directional wells, spiral drill collars are generally used to prevent differential sticking in the bore hole. Spiral drill collar also enable the circulation of drilling fluids at all the time. Squared drilling collars find application in vertical drilling and enable use of minimal clearance in bottom hole assembly. North America is expected to be the market leader in the drill collar market. However, Latin America is expected to be a potential market due to increased drilling activities in the region.
Increasing drilling activities across the world is driving the drill collar market. Shale gas boom in North America has resulted in the drilling of a large number of vertical and directional wells. Many more wells will be drilled during the forecast period creating a demand for oilfield services market and ultimately boost the drill collar market. Drilling activities in Latin America and West Africa are increasing due to huge investments in deep and ultra deep water reserves which show a huge potential for oil production for oil and gas companies. Most of the offshore deep and ultra deep water is untouched as most of the companies were restricted to shallow water reserves. Also shale gas production has not started in any regions except North America. These untapped reserves provide a huge opportunity for oil and gas industry during the forecast period and ultimately strengthen the drill collar market.
Some of the key players in the drill collar market are National Oilwell Varco, Aliron Tool Research, Challenger International Inc., Command Energy Services Ltd., Downhole Oil Tools, Inc., Drilling Services Limited, Global Drilling Solutions Inc., Goldenman Petroleum Equipment Co. Limited, Oillfield Services & Supplies Pte Ltd., Deep Drill Supply Group, Workstrings International, Tianhe Oil Group and Weatherford International among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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