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Drilling Stabilizer is an integral part of bottom hole assembly (BHA) of a drill string. It stabilizes the BHA in the borehole to avoid unintentional vibration, sidetracking, thus reducing the risk of stuck pipe. Drilling stabilizer is composed of hollow cylindrical body and stabilizing blades made of high strength steel. The market for drilling stabilizer can be segmented on the basis of type, application, location, and geography.
On the basis of type, drilling stabilizer is majorly divided into three types i.e. Integral blade stabilizer, welded stabilizer, and replaceable sleeve stabilizer. Among these, the welded stabilizer is widely used in drilling operations due to its application in the soft & medium hard formation and economical alternative as compared with other technologies.
On the basis of application, drilling stabilizer can be bifurcated into the directional well and vertical well. And on the Location, the market can be segmented by Onshore and Offshore. The offshore segment can be further bifurcated into shallow water, deepwater and Ultra-deepwater.
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The major driver for Drilling Stabilizer Market is the demand for increasing well-drilling efficiency and minimizing well cost. The Major function of drilling stabilizer is to concentrate the weight of drill collar on the bit and keep the drill collar away from the borehole wall. It increases lateral stability, reduce vibration, supply flexibility and reduce well cost.
The factor that is expected to inhibit the growth of the market is the huge saving on daily drilling cost of the well which can be reduced by adopting various drilling stabilizers also available as per customized requirement. As such, there is no major restraint for this market but the fluctuation in crude oil price and rising concern over reducing well cost may affect the demand of drilling stabilizers.
Some of the major companies that are present in the global drilling stabilizers market are National Oilwell Varco, Sandvik AB, Schlumberger, Tasman, Drillstar Industries, Weatherford International, Adriatech Europe, Sovonex Technology, LOG Oiltools, Dando Drilling International Ltd, Atlas Copco, etc.
· Integral Blade Stabilizer
· Welded Stabilizer
· Replaceable Sleeve Stabilizer
· Directional Well
· Vertical Well
· North America (USA and Canada)
· Europe (UK, Germany, France, Netherlands, Norway, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, Venezuela and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, Nigeria and Rest of Middle East & Africa)
The global drilling stabilizers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for drilling stabilizers at present and it is expected to account for a large proportion of the market in the forecast period as well. Currently, the US is focusing on increasing oil and gas production from its huge shale reserve which further requires advanced bottom hole tool & equipment to be economically viable. Europe and Asia Pacific region are expected to provide the largest market opportunity as the number of wells drilled in those countries are increasing year-on-year basis.
Key Industry Developments
· In Feb 2019, SMG Industries, Inc. an oilfield service company based in Texas, has entered into a strategic alliance with Christopher Equipment and Rentals, LLC, Texas, to rent bottom hole assembly tools and services to directional drillers and operators in Permian basin.
· In Apr 2018, Drilling Tool International Inc. has announced the acquisition of drill pipe rental division of Premium Oilfield Services LLC. DTI rental equipment portfolio includes drill stabilizers, drill collars, Drill N Ream, casing centralizers, and other downhole tools.
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