Drilling to Increase 4.9% in 2021

Operators worldwide report plans to drill 4.9% more wells in 2021 versus 2020.

Regional variances are observed, with US land operators projecting to drill 9.6% more wells in 2021 versus 2020 (led by the Permian basin) while Canadian operators anticipate a slight decline of approximately 1.8% in 2021. Gulf of Mexico operators report plans to drill 4.1% more wells in 2021 while international offshore operators anticipate keeping drilling activity nearly flat with 2020 levels. International land operators anticipate drilling 5.6% more wells in 2021.

These findings are based on interviews with over 500 respondents conducted in Q4, 2020 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 2021 and provide updates. Feel free to reach out to discuss.