Report

Oil well Fishing Tools and equipment Market: Development, Opportunities and Market Outlook (2016-26)

Oil and Gas Industry is highly capital intensive in nature. Daily operational costs of Exploration and Production activities especially drilling may sum up to millions of dollars. Any disruption in the activities due to failure of equipment or services may add up to huge amount of losses. Therefore, it is absolutely essential to develop technology and tools for efficient and effective problem mitigation and minimize the workflow disruption. Various advancements in the industry have given rise to methods that function as fail-safe and mitigation processes for the industry. Oil well fishing is one such service utilized to overcome and resolve various problems during drilling fishing operations.

'Fish' refers to any equipment or component that is left in the wellbore during or after drilling operations. Intentional or unintentional, once the component is lost, it is referred to as fish. ‘Oil well fishing’ refers to the operations aimed at retrieval of the fish. A fish may be broken drill pipe length, junk metal, hand tools or expensive logging tools and more. As fish can vary in size and nature, proper identification of the fish characteristics is an essential step for a successful fishing job. The need of fishing job arises because of the following reasons:

  • Unexpected wearing and breakage of drill bits
  • Drill string failure
  • Loose or weak joints
  • Unconventional borehole conditions (High dogleg severity etc.)
  • Human errors, etc.

The exponential growth in Exploration and Production especially in drilling markets mark a rise in drilling associated complications, therefore, marking a growth in Oil well Fishing Tools and equipment Market. The Market had an estimated worth of XX Billion dollars in 2016, and is growing at a steady rate of XX% every year. Our extensive and in-depth analysis concludes that the market is booming and suggests that it will eventually reach an approximated net worth of xx billion dollars by 2026.

Technological overview:

The primary factor that drives the implementation of a fishing job is cost and time taken. Sophisticated and accurate analysis need to be made in order to decide the route with least capital investment. For a fishing operation to be successful, the following steps need to be taken care of:

  • The circumstances of the accident must absolutely be known in detail
  • The various recordings covering the drilling phase should be examined thoroughly
  • Geologist’s daily report must be analyzed
  • Pre-operation information of fish should also be thoroughly collected etc.

Primarily fishing operations is carried in case of the following:

  • Removal of stuck drill string
  • Removal of broken drill string
  • Removal of broken drill bits and pieces etc.

Fishing operations incorporates various tools and technologies. They can be primarily classified as follows:

  • Internal catching tools: These tools catch the fish by the action of internal grapping mechanisms. They engage the fish on its internal diameter. They are ideal if the fish has large diameter and is tapered or can be easily tapered from the inside. Some examples are taper tools, spears etc.
  • External catching tools: These are tools that catch the fish by the action of an external grapping mechanism. They act on the external diameter of fish and thus are ideal for fish with tapered/rough edges. Some examples are overshot with basket grapples, overshot with spiral grapples etc.
  • Junk catch tools: These are used to small pieces of junk metals or broken equipment. For Example, Fishing magnets, junk basket etc.
  • Milling and cutting tools: They are used to mill the fish or to cut a struck tool, so that the proceeding fishing operations becomes easier. For Example, Mill suits, Drill pipe cutters etc.

Thorough and comprehensive analysis of Oil well Fishing Technology, tools, equipment and advances etc. is provided in the report.

The primary drivers of the market include tremendous increase in drilling activities and increasing complexions associated with unconventional drilling operations (directional drilling, offshore etc.) which increase the chances of tool related complications to happen. Environmental concerns, Cost of fish, cost of well etc. also drive the decision to conduct a drilling operations. However, high costs of fishing operations and services, alternates of side-tracking, lower probability of success etc. are some challenges faced by fishing operations and service industry. Moreover, exponential development in research and technology is making fishing more cost-efficient and effective and thus showcases the potential of growth in the market.

Comprehensive competitive analysis and profiles of major market players such as National Oilwell Varco, GE, Schlumberger, Halliburton Company, Weatherford International, Baker Hughes, etc. is also provided in this report.

Kindly fill the details below to get the Table of Contents

By Location

  • Onshore
  • Offshore

By Application

  • Removal of stuck drill string
  • Removal of broken drill string
  • Removal of broken drill bits and pieces etc.
  • Others

By Technology and Equipment

  • Internal catching tools
  • External catching tools
  • Junk catch tools
  • Milling and cutting tools
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
  • Market overview and forecasting covering Optimistic, Realistic and Pessimistic scenarios (2016-2026)
  • Analysis and study of various services provided by major players active in the Oil well Fishing Tools and equipment Market
  • Market segmentation based on Location, Application, Technology and Equipment & Geography
  • Detailed coverage of technology and services involved
  • Technical comparative studies and case analysis
  • Competitive landscape with in depth analysis of the market players’ strategy
  • Infraline’s Techno Managerial edge covering SWOT, TOWS, Porter’s five forces and PESTLE analysis

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