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According to this report, the Global Hydraulic Workover Unit market accounted for $9.99 billion in 2019 and is expected to reach $15.80 billion by 2027 growing at a CAGR of 5.9% during the forecast period. Increasing shale gas production activities and upsurge in oil & gas production after the decline in oil prices are the major factors propelling market growth. However, the growing focus on renewable energy is hampering market growth.
Hydraulic workover units are portable pulling systems that offer different benefits for onshore and offshore installations. Hydraulic workover unit is used as a substitute to workover rigs & conventional drilling. They are mainly used in drilling, repairing, and completing wells in and around shores.
Outlook on the Hydraulic Workover Unit Global Market to 2027 - Impact Analysis of COVID-19
January 13, 2021 05:48 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
ResearchAndMarkets.com s offering. According to this report, the Global Hydraulic Workover Unit market accounted for $9.99 billion in 2019 and is expected to reach $15.80 billion by 2027 growing at a CAGR of 5.9% during the forecast period. Increasing shale gas production activities and upsurge in oil & gas production after the decline in oil prices are the major factors propelling market growth. However, the growing focus on renewable energy is hampering market growth.
Hydraulic workover units are portable pulling systems that offer different benefits for onshore and offshore installations. Hydraulic workover unit is used as a substitute to workover rigs & conventional drilling. They are mainly used in drilling, repairing, and completing wells
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Oilfield Service Giants Are Expanding Beyond Oil Tech By Irina Slav - Dec 30, 2020, 6:00 PM CST
The oilfield services sector is usually the one to suffer the most during an oil and gas industry downturn. This last crisis has been no exception in most respects. Drilling fell sharply this year in response to the demand slump in both oil and gas, budgets were cut and exploration plans shrunk. There was talk we might have already seen peak oil demand. The situation begged the question what happens to oilfield services beyond oil?
To be fair, the world will need tens of millions of barrels of oil for decades to come, so “beyond oil” is a bit misleading. Yet peak oil demand may well be over, which means a shrinking market for these companies. And the largest among them are already preparing for this shrinking market.
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ProPetro Holding Corp. reported on Dec. 21 that David Sledge, the current COO, will be succeeded in his role by Adam Muñoz at the end of 2020.
David Sledge, who joined ProPetro in November 2011 and currently serves as COO, will step down from the role at the end of the year.
David’s tenure with ProPetro spanned a period where the company grew from just a single operating hydraulic fracturing fleet to as many as 27 active fleets. David also oversaw an operational and safety record that is well regarded across the industry. He previously served on the board of directors of Comstock Resources Inc. from 1996 to 2018. Prior to joining ProPetro, Sledge was vice president of drilling for Basic Energy Services from 2007 to 2009 and was president and COO of Sledge Drilling Corp., which was sold to Basic Energy Services in 2007. David also spent 25 years working with his father, Gene Sledge, at Gene Sledge Drilling Corp. be
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