While it’s been said before, the US oil and gas production renaissance is nothing short of astonishing in terms of incremental volumetric production growth and the speed with which it occurred. It is interesting to drill down into new market developments that have manifested as a result of the production boom, like the emergence of new oil service market sectors for advanced well drilling and completion technology like hydraulic fracturing and directional drilling.

The following infographic details some of these new market realities and is particularly timely given Halliburton’s Baker Hughes acquisition. It also illustrates the drilling boom’s scale and rapid growth, while providing some insight into recent oil price movement.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infographic courtesy of Tolteq.