DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/bhtpxs/global_drilling) has announced the addition of the "Global Drilling and Completion Fluids Market 2015-2019" report to their offering.
The analysts forecast the Global Drilling and Completion Fluids market to grow at a CAGR of 8.02% over the period 2014-2019
Drilling and completion fluids are fluids used in drilling activities to perform various functions. Drilling fluids, also referred to as drilling mud, is a composite fluid that is a mixture of chemical, water, and clays. Sometimes, oil is used instead of water to obtain desirable properties.
These fluids, essentially used to cool and clean drill bits, reduce friction, maintain wellbore stability, lubricate and reduce friction, seal pores and openings in formation while drilling, and control formation pressures. After the initial drilling of the well, completion fluids, which are primarily brines, are pumped down the hole to conduct further operations. They primarily serve to reduce formation pressures and formation damage, and circulate and transport solids.
An increase in the incorporation of nanofluids is one key trend emerging in the market. Nanofluids will lend additional functional properties to drilling and completion fluids and enhance their technical performance, resulting in increased efficiency and effectiveness of these fluids.
According to the report, one of the main drivers in this market is the increase in exploration and drilling activities. An increased need for energy and the growth in the global population have resulted in greater demand for oil and gas, resulting in more exploration and drilling activities.
Further, the report states that one of the major challenges confronting the market is the lost circulation of drilling and completion fluids because of naturally occurring fractures in the reservoirs, causing serious complications during drilling of wells. It reduces the hydrostatic pressure, which allows gas to flow to the wellbore, and increases the risk of explosions.
- Baker Hughes
- Calumet Specialty Products
- New Park Resources
- Tetra Technologies
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by Base Type
- Market Segmentation by Application
- Geographical Segmentation
- Key Leading Countries
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
- Other Prominent Vendors
For more information visit http://www.researchandmarkets.com/research/bhtpxs/global_drilling