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Oil price volatility hugely impacts the demand for onshore drilling rigs, as fewer wells are drilled throughout the industry downturn. Historically, apart from Russia and the CIS, The United States and Canada has actually held the biggest share of demand, followed by the Middle East and Latin America. In This Article Is More In-Depth , Oman, Saudi Arabia and Kuwait are the greatest areas for land rigs.

The need patterns in between the regions internationally are slightly various, where most of the growth in North America is for hi-spec rigs (1,500/ 2,000/ 3,000 hp) used in horizontal drilling. Historically the Middle East and Russia have used lower specifications rigs, with more need for 2,000 hp rigs (and above) beginning to construct up from 2014 onwards.

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Regionally, around 75 % of the systems are drilling rigs, with the rest being work-over systems. The rig fleet in the GCC area has been growing substantially over the last numerous years, reaching near to 370, with major purchases in UAE, KSA, and Oman. Newest global active land rig count (Source: Baker Hughes, different estimates for Russia and CIS) Onshore rigs have various power supply systems, i.

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SCR or Air Conditioner. SCR is old technology, whereas AC-powered (with variable speed) rigs enables adjusting the load and torque as needed. This not only provides drilling performance and control but consumes less fuel and decreases wear and tear. Most of brand-new onshore rigs worldwide are geared up with the A/C power system.

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In the U.S.A., around 70% of the land rigs are Air Conditioner powered. It is expected that A/C powered and rigs will control the increase in rig supply capacity around the world. The Middle East market for onshore drilling rigs includes national/domestic rig specialists, in addition to international players, with the domestic business dominating and managing more than 70% of the rig fleet (including work-over rigs).

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Around 40% of the rig count in the area is high spec 2,000 hp to 3,000 hp rigs, with circa 25% of the units being 1,500 hp to 2,000 hp rigs and c. 15% 1,000 hp to 1,500 hp rigs. This information is since Q4 2020 and based upon various business reports and presentations and our quotes.