Oil and gas industry comes under the category of the most successful industries in the world. Another one of its innovative product is a ‘liner hanger’ which is allowing this industry to make giant strides in the global market. Like in so many industries, Liner Hanger Manufacturers USA is leading the way here as well.
A liner holder is a framework/device that is used to drape a liner in a generation well. The demand for liner holders is identified to be directly related to the number of wells penetrated and finished. The expanding interests in investigation, creation, and boring exercises and the number of upstream tasks, over the world, by the oil makers like the United States and OPEC is relied upon to drive the liner holders market. Therefore, Liner Hanger Manufacturers USA has been dominant in recent times.
The function that separates a liner from a standard casing column is that it does not begin at the highest point of the well, but at a certain point, below the ground.
Liners are also used to save money on metal expenses, as the pipe does not run to the top of the well. It also minimizes cementing costs.
The Global Market of Liner Hangers Manufacturers USA
The demand for Liner Hanger has risen by a substantial 6.5% from 2017. The influence of Liner Hanger Manufacturers USA can be highlighted by the fact that North America has the largest share in the market, which is followed by Pacific-Asia and Middle-East countries. Together, these three areas contribute to 50% of the total demand.
Why Is The Demand For Liner Hangers Going To rising?
One of the main reasons for a predicted rise in demand is a shift from vertical drilling to lateral drilling which has led to a rise in drilled footage per well. Consequently, the demand for liner hanger is also expected to rise.
Over the previous decade, the horizontal lengths of the unusual wells bored in the United States have expanded from 2,500 feet to almost 7,000 feet. As China and Argentina have likewise begun to put resources into their traditional fields, following the United States, the interest for liner holders is believed to increment in the next few years.
United States: The Real Market!
According to EIA, United States Crude production will rise by 25% in the next two years. Tight oil production in the USA rose considerably in 2017 and formed 54% of the total crude production of the United States. Effective hydraulic fracturing and horizontal drilling have also contributed to the increased production rates.
The horizontal rig count in the US in 2017 rose by 19.5% in a matter of just one year. This will have a positive impact on demand for liner hangers in future. The tight oil production of West Texas and New Mexico is the main driver of The United States market.
This increased tight oil production along with the growth of renewable resources has provided opportunities to increase economic development in North America. The average active rig count IN North America is 2018 was twice as it was in 2016. This had a massive impact on the demand for liner hangers in the recent past. The demand for liner hangers will be positively affected by the fact that the USA is planning to become an oil exporter by 2022.
Undoubtedly, Liner Hanger Manufacturers USA has grown tremendously and will only get better from here. Below are some listed major Liner Manufacturers USA-
- Schlumberger Ltd: It is considered to be the best oilfield service. It employs 1,00,000 people and got headquarters in Paris, Houston, London and the Hague. It operates in 85 countries.
- Halliburton: It is one of the largest oil field companies which operates in more than 70 countries and employs about 55,000 countries. It has got its headquarters in Dubai and Houston. Its primary business segment is Energy Service Groups.
- Weatherford: It is one of the leading oilfield organizations giving imaginative arrangements, innovation and administrations to the oil and gas industry. The Company works in more than 90 nations and has a system of roughly 800 areas, including production, administration, innovative work, and preparing offices.
- Baker Hughes Incorporated: This company is another important market player as it is the only provider of integrated oilfield products, services and digital products. It claims to have resources, technology and the cloud to reduce wastage and risk. It operates in 120 countries.
The energy consumption is supposed to increase by 28% from 2015 to 2040 worldwide. This fact throws light upon how the demand for liner hanger is expected to rise. With a shift from vertical to horizontal drilling added with effective hydraulic fracturing and continuous growth in renewable resources like natural gas, the Liner Hanger Manufacturers USA have risen rapidly in the global market for liner hangers and is supposed to only go forward and be the leading market player in this industry.