Some Known Details About Rig Fleet » Infrastructure » - John Energy Ltd.
Oil cost volatility hugely affects the demand for onshore drilling rigs, as fewer wells are drilled during the industry downturn. Historically, apart from Russia and the CIS, North America has actually held the biggest share of need, followed by the Middle East and Latin America. In the Middle East, Oman, Saudi Arabia and Kuwait are the greatest locations for land rigs.
The need patterns between the regions internationally are slightly different, where the majority of the development in The United States and Canada is for hi-spec rigs (1,500/ 2,000/ 3,000 hp) used in horizontal drilling. Historically This Article Is More In-Depth and Russia have actually utilized lower specs rigs, with more need for 2,000 hp rigs (and above) beginning to develop from 2014 onwards.
Regionally, around 75 % of the units are drilling rigs, with the rest being work-over systems. The rig fleet in the GCC region has been growing substantially over the last several years, reaching near 370, with major purchases in UAE, KSA, and Oman. Latest worldwide active land rig count (Source: Baker Hughes, various estimates for Russia and CIS) Onshore rigs have different power supply mechanisms, i.
SCR or Air Conditioning. SCR is old innovation, whereas AC-powered (with variable speed) rigs permits changing the load and torque as required. This not just provides drilling performance and control however consumes less fuel and decreases wear and tear. Most of brand-new onshore rigs worldwide are equipped with the AC power system.
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In the USA, around 70% of the land rigs are A/C powered. It is anticipated that Air Conditioning powered and rigs will dominate the increase in rig supply capability around the world. The Middle East market for onshore drilling rigs includes national/domestic rig specialists, as well as worldwide gamers, with the domestic business dominating and controlling more than 70% of the rig fleet (consisting of work-over rigs).
Around 40% of the rig count in the region is high specification 2,000 hp to 3,000 hp rigs, with circa 25%