HOME Research Insight Schlumberger (US) and Halliburton (US) are the Key Players in the Perforating Gun Market

Schlumberger (US) and Halliburton (US) are the Key Players in the Perforating Gun Market

The perforating gun market is projected to grow at a CAGR of 3.71%, from 2017 to 2022. The North American market is estimated to be the largest for perforating guns, followed by Asia Pacific in 2017. The growth of the perforating gun market is driven by the increase in average well depth over the years, rising oil & gas production, and growing complexity of reservoir conditions.

The key players operating in this market include Schlumberger (US), Weatherford (US), Baker Hughes (US), Halliburton (US), and DynaEnergetics (US).

The major strategies adopted by the players include contracts & agreements, new product launches, expansions, and mergers & acquisitions. Contracts & agreements was the most commonly adopted strategy from 2014 to July 2017. Industry players also adopted new product launches, which was the second most widely followed strategy during the same period.

Schlumberger is one of the leading players in the oil & gas upstream products and services business. The company offers different products and services such as geophysical equipment and services, well production and testing services, drilling and completion fluid services, directional drilling services, and surface data logging. The company acquired Cameron on 1 April 2016. This acquisition helped the company strengthen its position in the perforating gun market with advanced drilling systems, unconventional completion methods, and pipeline transmission and storage systems. The company has segmented its business into 4 divisions, namely, production, drilling, reservoir characterization, and Cameron. The company provides perforating guns through its production segment. Schlumberger provides a wide range of guns catering to the different requirements of its clients based on regional conditions such as wellbore environment, reservoir and fuel content, and completion geometry. In February 2017, the company received a contract for deepwater perforation in Brazil. The company used its XR-Perf system to obtain the 40-meter perforation. It was completed in 3 runs over 18 hours of total operation.

Halliburton is one of the largest providers of oil & gas services. The company provides services for the lifecycle of a reservoir in the upstream oil & gas industry. This includes locating hydrocarbons and managing geological data, drilling and formation evaluation, well construction, well completion, and production optimization. The company operates through 2 segments, namely, completion and production, and drilling and evaluation. The systems and guns offered for perforation depend on various factors such as the temperature of the well, pressure in the wellbore, and the depth of the well. In September 2016, the company launched a new product, a corrosive hostile environment gun made up of CHE material that helps increase the life of the component. The company received a contract for offshore wells in Egypt. The operator of the wells was faced with challenges such as a sour environment, high water production, and high bottomhole temperature. It required wireless intervention to bring the well back to production. Halliburton successfully perforated 11 new intervention in the wells.

Related Reports:

Perforating Gun Market by Gun Type (Wireline Conveyed, Tubing Hollow Carrier, Tubing Strip, Tubing Conveyed), Depth (Up to 3000ft, 3000–8000ft, Above 8000ft), Well Type (Horizontal, Vertical), Well Pressure (High, Low), and Region - Global Forecast to 2022

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