Global Land Drill Rigs Market Will See A Capital Expenditure (Capex) Of $2,823.7 Mn In 2017

07 August 2017
Energy

Visiongain’ has launched a new energy report Global Land Drill Rigs Market Analysis to 2027: Forecasts By Rig Type (Conventional Rigs & Mobile Rigs), By Power (<1500 Hp, 1500–2500 Hp, and >2500 Hp) AND By Region PLUS Profiles of Leading Companies in the Land Drill Rigs Market

Drilling rigs play an important role while producing hydrocarbons from different types of wells. Around 70% hydrocarbon production comes from onshore oil and gas fields while the remaining 30% is contributed by offshore fields.

Drill rigs are versatile equipment used for the drilling a hole in the earth’s surface to extract hydrocarbons. New oil fields are discovered every year to meet the increasing energy demand and consumption.

Crude oil price continues to fluctuate, but the fall of crude oil price in 2015 hit the oil and gas industry hard. The oil price downturn and subsequent reduction in drilling activity have had a severe impact on the global land drill rig market. Depleting hydrocarbons and its harmful environmental impacts are also creating a restraint to the oil and gas drilling rigs market.

The visiongain report analyst commented “increased primary energy demand and along with increased production of oil and gas are the main drivers of the land drill rigs market. Advancement in technologies related to oil field discovery, oil drilling is expected to create the demand for the global land drill rigs market.”

Leading companies featured in the report who are developing Land Drill Rigs include KCA Deutag, Nabors Industries Ltd., Cactus Drilling Company, LLC, SDP Services Ltd., Drillmec Inc., Marriott Drilling Ltd., China Oilfield Services Ltd., Helmerich & Payne, Inc, Parker Drilling & Patterson-UTI Energy, Inc

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

About visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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