Wireline Logging Services Market Size By Hole (Cased Hole, Open Hole), By Technology (E-line, Slickline), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2015 – 2022
Published Date: March 2016 | 90 Pages | Report ID: GMI135 Report Format: PDF
Wireline logging services market size was USD 14.18 billion in 2014. These services are precisely used to run equipment and tools into the downhole before and after the completion.
Latin America wireline logging services market size, by hole, 2012-2022 (USD Million)
The log can be performed in boreholes drilled for the mineral and geothermal exploration, oil & gas, and geotechnical & environmental studies. It may be based on physical measurements made by instruments lowered into the hole or on visual inspection of samples brought to the surface. Few logging techniques include Logging While Drilling (LWD), Measurement While Drilling (MWD), gamma ray, and nuclear magnetic resonance.
Potential increase in recoverable resources, high demand for real-time logging, and increasing energy demand are encouraging oil & gas companies to invest highly into exploration & production (E&P) activities, thereby boosting wireline logging services market size on a global scale. The industry is evolving continuously owing to technological advancements, evolving standards, and changes in customer requirements.
The equipment and tools are lowered into the wells either through a cased or open-hole It offers critical information, which is used for optimized and efficient drilling purposes. Surging demand for intensive R&D has led to the development of sophisticated high-end products, which are delivered for ease-of-use and to provide control to meet process requirements. Concerns regarding the adverse environmental impact may hamper the wireline logging services market share over the forecast period.
Hole Type Analysis
Cased-hole logging market consists of procuring logging measurements by means of the well chasing or metal piping inserted during the completion operations. Global revenue generation from this segment accounted for over 75% of the share in 2014.
In contrast, open-hole services refer to logging operations that are performed on a well before the wellbore has been cemented. The segment is expected to grow at a CAGR of 7.7% from 2015 to 2022. The new reservoir conditions including high pressure, high temperature, and ultra-deep water require new challenging wireline logging tools and services. Several competitors prevailing in the market are challenged to provide innovative solutions, which help consumers address changing technologies and business practices.
Under electric line well intervention services, a steel armored electric cable is used, which has the capability of transmitting well logging data continuously to the surface. The size of the cable varies as per the mechanical strength of wireline and number of electrical conductors. It is used to get real-time data such as tubing inspections, reservoir monitoring, cement bond logs, better depth control accuracy, and working with high angle wells along with tractors.
Slickline services market includes the control of sliding sleeves for opening and closing access to zones combined with the replacement of gas lift valves. Further, it can measure the depth of the well, well perforation, temperatures, and down-hole pressures. The technology offers cost-saving as it requires less equipment and personnel; it also allows safer operation as it offers more reliable pressure control with less environmental hazard. As a result, the segment is expected to grow faster than the global average over the next few years.
North America, owing to Canada and U.S. wireline logging services market size, is expected to continue being the leading region in the coming years. This is mainly a result of growing number of wells both in offshore & onshore areas and increasing shale activities. Majority of wells drilled are horizontal, requiring artificial lift to produce hydrocarbon or dewater the gas wells.
Latin America is estimated to witness high growth, mainly on account of increasing energy demand, exploration activities, and growing need for logging.
Competitive Market Share
Wireline logging services market share is dominated by Schlumberger, Halliburton, Baker Hughes, Weatherford International, etc. Other players include Superior Energy Services, Pioneer Energy Services, OilSERV, and Nabors Industries.
E&P companies award service and maintenance contracts to firms that offer higher degree of cost efficiency. Key product development and competent distribution channels are expected to be critical for competitive advantage in the consolidated wireline logging services market share.
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