Table of Contents
Expansion of Drilling Activities, Mainly CSG Wells, Propels Demand
With a number of wells being drilled for coal seam gas and shale gas, the onshore oilfield equipment rental market is anticipated to witness growth. Rental companies supply oilfield driiling companies with oilfield equipment for drilling services. This study discusses the onshore oilfield drilling activities in Australia and the number of wells that have been drilled, besides projecting the number of wells that will be drilled in future. The study period is from 2010 to 2020, with 2010 to 2012 as the historical period, 2013 as the base year, and 2014 to 2020 as the forecast period.
-Australian onshore drilling and completion activities are mainly focused on eastern Australia, particularly in the Surat–Bowen Basins in Queensland (QLD) that have experienced rapid development over the last 5 years.
-Multi-billion dollar coal seam gas–liquefied natural gas (CSG-LNG) projects under construction will commence production in 2015.
-From 2013 to 2020, 10,347 wells will be drilled, with more than 94% of these being CSG wells. This will help meet the demand of the 3 CSG-LNG liquefaction plants in QLD.
-The sudden expansion of drilling activities necessitates high capital expenditure on rigs and tools. This creates opportunities for equipment rental that is targeted at drilling service providers.
-Based on current committed projects, market revenue in Australia is estimated to grow from $ million in 2013 to $ million in 2020.
-Drilling service companies with large equipment inventories have seen the potential in this market. For example, Titan Energy Systems, Ltd. acquired Hofco Oilfield Services in 2013 to capitalize on the equipment rental business opportunity.
-At present, the market is characterized by the presence of a few small enterprises (mainly domestic) and a few overseas-owned enterprises.
Key Questions This Study Will Answer
What are the onshore oil and gas drilling and well completion activities happening in Australia?
What is the expenditure forecast for Australian onshore oil and gas drilling and well completion?
What is the market demand outlook for onshore oilfield equipment rental up to 2020?
What are the challenges facing the industry, and what is the competitive environment in the market?
What are the key opportunities and success factors in the equipment rental business?
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