North American drilling and production activity is increasing service and technology demands and leading to shifts in capital markets and M&A transactions.
North America continues to be one of the largest oil and gas producing areas in the world. While the US oil and gas industry is still in the early stages of shale development and production, US production growth is at a record high and still accelerating. The following six trends likely will be positive for industry participants in oilfield services (OFS).
1. Shale gas and tight oil are driving changes in the field. The majority of US oil and natural gas production growth can be attributed to tight oil and shale gas. Innovation such as horizontal drilling is increasing well productivity, which has led to an exponential increase in the demand for downhole technologies, proppants, fresh water supply, and waste water and sold waste disposal.
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