Drilling to Increase 16.1% in 2022

Operators worldwide report plans to drill 16.1% more wells in 2022 versus 2021.

Regional variances are observed, with US land operators projecting to drill 21.6% more wells in 2022 versus 2021 while Canadian operators anticipate an increase of 12.6%. Gulf of Mexico operators report plans to drill 11.1% more wells in 2022 while international offshore operators anticipate drilling 5.1% more wells and international land operators 16.8% more wells in 2022.

2022 reflects a year in which growth in the upstream sector will be broad-based across North America, internationally, and offshore following the sharp market downturn in 2020.

These findings are based on interviews with over 500 respondents conducted in Q4, 2021 by Kimberlite Oilfield Research with drilling engineers, drilling managers, and geologists worldwide. The findings from these interviews will be used in support of upcoming product line reports for wireline logging, LWD, surface logging, surface wellheads, liner hangers, and cementing services.

Kimberlite will continue to track operator plans in 2022 and provide updates. Feel free to reach out to discuss.