The global Hydraulic Fracturing market, was estimated at 30 billion in 2020 and is predicted to record a 36 billion by 2026, is estimated to a CAGR of nearly 8.98% over 2021-2026.
The major drivers for the hydraulic fracturing market involve increased shale oil & gas revolution, rising demand for oil & gas, and rising concern for depletion of natural resources.
The key players of Market included Baker Hughes, Calfrac Well, Fts International, Halliburton, Nabors Industries, Patterson-Uti Energy, RPC, Schlumberger Limited, Tacrom Services, Trican Well Service, United Oilfield Services and Superior Well Services.
Pioneer Natural Resources Co. and Parsley Energy, Inc. have entered into a definitive agreement under which Pioneer will acquire all of the outstanding shares of Parsley in an all-stock transaction valued at approximately US$4.5 billion as of 19 October 2020. Under the terms of the agreement, Parsley shareholders will receive a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley common stock owned. The total value for the transaction, inclusive of Parsley debt assumed by Pioneer, is approximately US$7.6 billion.
Halliburton has introduced SmartFleet, Oct 2020 the first intelligent automated fracturing system. SmartFleet, unlike any current fracturing fleet, gives operators real-time fracture control while pumping by integrating subsurface fracture measurements, live 3D visualisation, and real-time fracture commands. The SmartFleet system connects to the reservoir through subsurface sensing to continuously measure cluster uniformity and fracture geometry. The system applies the measurements to make intelligent adjustments that improve fracture placement. SmartFleet also provides users a direct line of sight to live, 3D fracture geometry, projected fracture growth, and cross-well interactions.
Sep. 29, 2020-- Baker Hughes announced an order with longtime partner Qatar Petroleum to supply multiple main refrigerant compressors (MRCs) for Qatar Petroleum’s North Field East (NFE) project, executed by Qatargas. The total award is part of four LNG “mega trains,” representing 33 million tons per annum (MTPA) of additional capacity, which will increase Qatar’s total liquefied natural gas (LNG) production capacity from 77 MTPA to 110 MTPA and help to propel the Gulf nation to global LNG production leadership by 2025. This order is among the largest LNG deals secured by Baker Hughes in the past five years, for both MTPA and equipment awarded.
By application it splits into onshore and offshore. On the basis of well type: Horizontal and vertical wells. On the basis of Shale type it includes Antrim, Bakken, Barnett, Eagle Ford, Fayetteville, Haynesville, Marcellus, Woodford, and Rest of the U.S. ‘shale’. On the basis of Region: North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific. Among these North America to make major Contributions towards global market share by 2026. The growth of the market in the sub-continent over the forecast timespan is credited to easy availability of advanced E & P techniques and skilled workforce in the countries like the U.S. and Canada. Apart from this, high investments made by the players for improving the process will further steer the regional market growth. In addition to this, large deposits of shale gas observed in the countries like U.S. and new shale gas reservoir discoveries in the country will create lucrative growth avenues for the market in the North America.
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