Oil Field Chemicals (SCUP)

Probably the most significant change in the oil field chemicals market over the last four years has been the rapid exploitation of shale gas and oil reserves in North America. Recent advances in both horizontal drilling and hydraulic fracturing have meant that reserves that were previously uneconomic to develop have been rapidly exploited. A number of factors contributed to the rapid exploitation of these reserves—e.g., rig and equipment availability, availability of water for fracturing, and mineral rights licensing/exploitation in the United States.

There has been a real and significant increase in the activity level across all the oil field chemical sectors—drilling fluids, cementing and stimulation (including fracturing), and oil production chemicals. Increases in well stimulation have been significantly impacted by the growth in shale oil and gas developments in North America. The increase in shale gas and oil activity has also resulted in higher volumes of drilling and cementing chemicals.

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