"Actionable Insights to Fuel Your Growth"

Underbalanced Drilling Service Market Size, Share & Industry Analysis, By Drilling Fluid ( Gaseous (Compressible), Two-Phase, Liquid (Incompressible) ), By Application ( Onshore, Offshore ) and regional Forecast, 2024-2032

Region : Global | Report ID: FBI104026 | Status : Ongoing



The ever-growing demand for hydrocarbon made to think operators for innovative technologies in recovering oil and gas. Underbalanced drilling is one such technology used by several oilfield service companies to save millions of dollars by increasing the retrieval of oil within a short time. In contrast, conventional drilling method frequently causes fluid invasion, which may damage the formation though it is the safest method for drilling a well but may cause severe damage to formation and increase the cost of production. The underbalanced drilling method used to drill a well with a wellbore fluid gradient less than natural formation gradient. This technique is widely recognized for minimizing the damage caused by the invasion of fluid in the formation. There multiple benefits due to the use of underbalanced drillings, such as increased bit life, reduced drilling time, and early detection and dynamic testing of productive intervals while drilling. Hence, an underbalanced drilling service may exhibit robust growth in forthcoming years.

The underbalanced drilling service market is segmented into drilling fluid and application. Drilling fluid is further classified into gaseous (compressible), two-phase, and liquid (incompressible). Gaseous (compressible) is one of the oldest techniques that use dry air drilling. It has several advantages such as increased penetration rate over other drilling fluids and extended bit life since the compressed air cools the bit. Two-phase drilling fluid consists of foam type fluid or aerated drilling mud. Liquids are mixed with gas to achieve the required circulating fluid density. The technology is majorly used in onshore and offshore. Onshore segment exhibit strong growth due to substantial investment by major conglomerate companies. However, the offshore segment shows rapid growth in the forthcoming years owing to the high potential of discovering hydrocarbon deposits.

The enormous demand for hydrocarbon, coupled with the expansion of industries and growing urbanization, may fuel the growth of the underbalanced drilling service. The significant formation of damage is avoided that may reduce the drilling time and increase the bit of life, which drives the market.

The high risk associated with well due to the use of underbalanced drilling technique i.e. blowout which causes severe damage that may hinder the market. The technology is still expensive and complicated that may restrain the market.  


Key Market Driver -

Tremedous demand for oil and gas

Key Market Restraint -

High risk of blowout, fire and exploration  

Key Players Covered:

  • The major companies for the underbalanced drilling service market are Reform Energy Services, Weatherford, Halliburton, International Snubbing Services, Air Drilling Associates, Strata Energy Services Inc., Blade Energy Partners, Ltd., Viking Services, Hurricane Air Drilling Services Ltd Co., and Precision Air Drilling Services.

Regional Analysis:

The global underbalanced drilling service market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Underbalanced drilling has proven the ability for reduced formation damage in horizontal wells that driving its demand in the United States. The rising investment in E&P activities and increasing concern over damaged formation may fuel the market. Underbalanced drilling is gaining acceptance in European countries owing to its advantages. Germany, UK, and Russia, among others, are adopting this technology to increase the production of oil and gas. China, India, Japan, and Indonesia, among others, are extensively investing in the exploration and production of hydrocarbon to meet the rising demand. Several oilfield service companies are inclined towards cost-effective drilling technology to reduce the production cost that may underpin the market. Middle East and Africa may exhibit positive growth owing to consistent investment in exploration activities. UAE, Saudi Arabia, Iran, and Iraq, among others, are playing a crucial role in uplifting the growth of the underbalanced drilling service market.


To gain extensive insights into the market, Request for Customization




By Drilling Fluid

  • Gaseous (Compressible)

  • Two-Phase

  • Liquid (Incompressible)

By Application

  • Onshore

  • Offshore

By Geography

  • North America (USA and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



Key Industry Developments

  • In June 2019, Weatherford International recently unveiled Victus intelligent MPD, and industry 4.0 solution with advanced technology. The Victus is capable of delivering cost-effective drilling solutions to operators with high-level safety.

  • In February 2019, Weir Oil & Gas secured a contract from Expro to provide repair services for the PowerChokes product range. Expro manufactures advanced chokes and control consoles that used in underbalanced and managed pressure drilling. The cooperation will strengthen the portfolio of both the companies to provide a comprehensive drilling solution to its consumer.

  • In May 2014, ONGC turned out to be the first company in India to implement an underbalanced drilling pilot project in the Heera and Mumbai High Fields.

  • Ongoing
  • 2023
  • 2019-2022


  • $4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients


Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.