Drilling Fluids Procurement Research – Market Trends and Spend Analysis by SpendEdge
Global procurement intelligence advisory firm, SpendEdge,
has announced the release of their ‘Drilling
Fluids Market Procurement Research Report.’ The insights and
data in this report provide a strategic analysis of the supply markets,
factors influencing purchasing decisions, procurement best practices,
pricing models, supplier landscape, and an analysis of the supplier
capability matrix for the chemicals
industry. This report breaks down the data and analysis behind
the procurement of drilling fluids and acts as an all-inclusive guide
for making smart purchasing decisions.
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Global Drilling Fluids Procurement Market Intelligence Report (Graphic: Business Wire)
“The use of procedures such as directional drilling and hydraulic
fracturing, in addition to improvements in proppants used for aiding
shale gas extraction, is expected to make shale gas extraction
commercially viable in countries like Algeria and Mexico,” says
SpendEdge procurement analyst Anil Seth. “Also, the slow recovery in oil
and gas prices will motivate buyers to increase their spend on oil and
gas E&P activities,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Drilling
Fluids Market:
-
Consolidation among companies offering oilfield services
-
Recovery of oilfield services segment due to the rise in prices of oil
and gas
-
Concerns about environmental damage leading to the demand for
environment-friendly drilling fluids
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Consolidation among companies offering oilfield services:
M&A activities among companies in the oilfield services sector are
resulting in the formation of oilfield service-related companies that
can cater to a wide range of service requirements. It also enables them
to complement and complete their portfolios of oilfield services.
Moreover, such activities allow the buyers to negotiate better as they
can procure all the integrated oilfield-related services from a single
global supplier. Also, acquiring different services from a single
supplier helps the buyers in reducing their management complexities.
Recovery of oilfield services segment due to the rise in prices of
oil and gas:
Gradually, recovering oil and gas prices are leading to a recovery of
the oilfield services segment worldwide. Environments with low
production costs, such as onshore basins, are observed to have a faster
recovery, as opposed to high production cost environments such as
deepwater plays. Moreover, the restoration of the oilfield services
segment will increase the negotiation opportunities for buyers while
allowing them access to higher options.
Concerns about environmental damage leading to the demand for
environment-friendly drilling fluids:
Regulations exist on the use and disposal of different types of drilling
fluids and drill cuttings coated with these drilling fluids. The growing
concerns regarding the environmental damage that can be caused by these
drilling fluids are the reason for the enactment and enforcement of
these environmental regulations. This has led to the demand for drilling
fluids that have a minimal environmental impact. Also, the use of
environmental-friendly drilling fluids enables users to perform drilling
operations without the risk of being penalized.
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SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred procurement market intelligence partner
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180203005054/en/
Copyright Business Wire 2018
Source: Business Wire
(February 3, 2018 - 3:45 PM EST)
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