Market Trends of Shale Gas Hydraulic Fracturing Industry
This section covers the major market trends shaping the Shale-Gas Hydraulic Fracturing Market according to our research experts:
Horizontal and Directional Well Type to Witness a Significant Growth
- Combining a new technique of horizontal drilling with the pre-existing hydraulic fracturing techniques is making it favorable for drilling in shale gas regions.
- The United States can be considered as the country that has benefited the most from the combination of horizontal drilling and hydraulic fracturing, as the country has abundant shale reserves. The shift from vertical to horizontal wells has been the most important change to occur over the last decade, allowing for greater formation access, while only incrementally increasing the cost of the well.
- Since 2010, horizontal drilling activity has dominated and accounts for most of the drilling activity. Therefore, an increase in the horizontal well drilling activities propels the high production of shale gas through hydraulic fracturing.
- Also, horizontal drilling is economically viable, as it covers the maximum surface of the strata (cap rock) in which shale gas is preserved.
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North America to Dominate the Market
- North America is anticipated to lead the worldwide market for shale gas, in terms of sales. As of 2018, this region held more than two-thirds of the overall market in terms of volume and value.
- In the United States, the production from Marcellus/Utica shale is expected to account for most of the growth in gas production.
- In December 2018, US shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of the total US dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of the total US oil production).
- Hence, the increasing dominance of the United States in shale gas hydraulic fracturing is reforming the overall energy scenario of North America, and it is expected to have a strong impact on the energy domain, worldwide.
- Also, the availability of resources, including manpower and advanced technology, is favoring the growth of the North American shale gas hydraulic fracturing.
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