What Are the Key Driving Factors for the Directional Drilling Services Market Growth?
The driver of this strong growth is an increase in the production of oil and gas from unconventional reserves. In March 2024, production of crude oil in the US hit a record high, exceeding 13.3 million barrels per day, showing the importance of directional drilling in helping to not just drill vertically, but to better access and extract oil and gas reserves.
What Are the Segments of the Directional Drilling Services Market?
The directional drilling services market is divided into key sectors:
1) Services: Logging-While-Drilling (LWD), Rotary Steerable System (RSS), Measurement While Drilling (MWD) And Survey, Drag Analysis, Well Bore Positioning, Other Services.
2) Well Type: Horizontal, Multilateral, Extended Reach.
3) Application: Onshore, Offshore.
Who Are the Major Players in the Directional Drilling Services Market?
Industry heavyweights such as Baker Hughes Incorporated, Cathedral Energy Services Limited, Crescent Directional Drilling LP, Halliburton Company, Jindal Drilling and Industries Limited, Leam Drilling Systems Inc., Nabors Industries Limited, National Energy Services Reunited Corporation, NewTech Services Holding Limited, NOV Inc. among others represent the major companies operating in this market.
What Are the Emerging Trends in the Directional Drilling Services Market?
Major companies in this sector are invested in technological advancements, like DeviDrill RSS (Rotary Steerable System), to improve drilling precision, increase operational efficiency, and reduce costs in complex wellbore navigation applications. Making a significant impact in the sector, Norway-based company, Devico AS, announced the availability of its directional drilling technology, DeviDrill RSS in October 2022.
Which Region Dominates the Directional Drilling Services Market?
In 2024, North America was the largest region in the directional drilling services market, followed by Asia-Pacific.
What Does The Directional Drilling Services Market Report 2025 Offer?
Directional drilling service refers to the process of managing a wellbore’s direction to a predetermined subsurface target or location. These services are used to precisely locate the most lucrative zone of the reservoir. Irrespective of the reservoir environment, the integrated suite of directional drilling services significantly reduces construction costs and increases output. The Directional Drilling Services Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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