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USA and Canada Upstream and Oilfield Services Market Report 2022 Projected Accelerated Growth of the Oilfield Services Market in the US and Canada in the Next Several Years
Research and Markets
6 min read
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Dublin, July 19, 2022 (GLOBE NEWSWIRE) -- The "USA and Canada Upstream and Oilfield Services 2022" report has been added to ResearchAndMarkets.com's offering.

The report's goal is to provide a complete picture of trends that transformed the regional oil and gas industry in the last 15 years.

In the last ten years, thanks to the shale revolution, the US and Canada combined production propelled the region to the largest oil and gas producer in the World. In 2021 the region accounted for almost 25% of liquids production and for 28% of gas compared to 12% and 24% in 2007. The growth took its toll in difficult to manage debt loads and unhappy investors.

Yet, the good news is that the growth did not exhaust the region's potential which remains large and readily available for expansion. Russian invasion into Ukraine is slowly changing future of the global oil and gas balances with the US and Canada playing the key role in the transition.

The region hosts the largest OFS market in the World whether at a peak or during sectoral downturns. However, the market is difficult to navigate successfully. Sharp swings in activity and prices along with a significant change in the technology make investment in the market cumbersome and returns uncertain. High investment required during growth leaves companies with heavy debt burden when the market is in the downturn.

Unlike in other regions, the US OFS market is particularly vulnerable to volatility. It fell in 2009, it shrank sharply in 2015-2016. The US and Canada OFS market experienced yet another shock in 2020 with the market collapsing by over 50% due to falling activity levels and enormous price pressures. The report includes the analysis of these shocks. After each cycle, many players went bankrupt, and capacities found new owners who will continue supplying the market with needed equipment and expertise.

The future of the industry in the changing global conditions is bright despite a seemingly slow recovery of 2021-2022. However, it will experience the overheating period between now and 2030 despite efforts to collectively manage the growth.

The report snapshot:

  • A detailed analysis of the North American Upstream and Oilfield Services development from 2007 to the end of 2021

  • Activity review in Texas, New Mexico, Oklahoma, North Dakota, Colorado, Louisiana, Pennsylvania, Ohio, Alaska, the Gulf of Mexico, and Canadian provinces. Largest operators by the state in 2013-2021

  • Analysis based on core data (wells, footage, fracturing stages, water per well)

  • OFS market size for individual states and Canada. Benchmarked to revenues of the largest OFS firms in North America

  • Profiles of 17 largest frackers/ operators in North America

  • Briefs of 42 OFS companies (revenue, debt, service offering)

  • Forecast of the physical activity and OFS market development in the States and Canada's provinces till 2030

  • Forecast includes changes due to global supply shifts because of the Russian aggression against Ukraine

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