Research and Markets has announced the addition of the report “Global Hydraulic Fracturing & Services Market Analysis and Forecast (2011-2020)” to its information product offerings.
The report covers the U.S. market and also China, which has been aggressively expanding its fracturing capacity over the last two years. The report also identifies several other countries in Europe and Asia-Pacific with rich shale oil and gas resources that can be economically extracted.
Regulations for hydraulic fracturing in some European countries are not favorable. However, recent technological advancements have made the fracturing process safer and efficient, making many countries across the globe eager to extract their oil and gas resources.
The report also covers the demand for water, sand and other additives used in hydraulic fracturing. Fracturing sand and water are limited resources, procured from different suppliers. Stringent regulations owing to the scarcity of water play a major role in the fracturing market.
Water regulations for different countries have been covered in extensive detail. The chemical additives used in the fracturing process are classified as Friction reducers, Biocides, Solvents, Surfactants, Scale inhibitors and Acids. Waste disposal techniques and the demand for the same have been projected until 2020.
- Hydraulic fracturing demand has slowed down in the U.S. due to excess supply of oil and gas domestically and a limited number of exploration projects.
- Fracturing cost per well is expected to decrease on an annual basis in U.S but will continue to increase in Canada for the next two years.
- China has increased its frac capacity and will continue to increase substantially for the next five years.
- Majority of the European countries continue to support the ban on hydraulic fracturing.
- Globally fracturing service cost stood in the range of $2.0-3.5 million per well for wells greater than 15 and less than 30 frac stages.