Underbalanced Drilling Market Research Report - Global Forecast till 2027

Underbalanced Drilling Market Research Report: Information by Technique (Lightweight Drilling Fluids, Gas Injection and Foam Injection), by Application (Onshore and Offshore) and by Region (North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America) - Forecast till 2027

ID: MRFR/E&P/6613-HCR | February, 2021 | Region : Global

Underbalanced Drilling Market Scenario


Underbalanced drilling market size is projected to reach USD XX million by 2024 from an estimated USD XX million, with 5.24% CAGR from 2019 to 2024.


The major factors driving the growth of the global underbalanced drilling market include rising demand for crude oil owing to rapid urbanization, increasing exploration and drilling activities, and discovery of new oil and gas deposits. Moreover, there are various oil and gas operators investing in the oil and gas industry due to improving crude oil prices. Moreover, the projected high growth of underbalanced drilling is due to the potential for higher penetration rates, increasing concern about formation damage, and the ability to reduce lost circulation in depleted reservoirs. Additionally, the current trend in drilling and completion activities also present a growth opportunity for the global underbalanced drilling market.


Additionally, the global underbalanced drilling market is projected to grow at a high rate during the forecast period owing to an immediate need to increase productivity and reducing drilling damage. Oil and gas companies are significantly investing in advanced techniques including underbalanced drilling, which increases the productivity of the drilling process and provides cost savings in the digital transformation of oil & gas industry. According to IEA, the demand for oil is estimated to grow by 6.9 million barrels a day by 2023. Thus, governments around the world have developed attractive investment plans to increase their refinery capacity that would further drive the growth of the global market. For instance, in 2018, Indian Oil Corporation announced its plans to invest around USD 24.83 billion to increase its refinery and drilling capacity, improve its petrochemical production, expand gas business, and extend its drilling process. Similarly, in May 2018, Abu Dhabi National Oil Company invested USD 45 billion to expand its facility into one of the world’s largest refining and petrochemical plants, which would boost its refining capacity by 65% to 1.5 billion barrels per day by 2025. These investments would in turn drive the need for efficient drilling techniques in a refinery, thereby boosting the market for underbalanced drilling.


Key Players



  • Air Drilling Associates Inc. (US)

  • Ensign Energy Services (Canada)

  • Schlumberger Limited (US)

  • Halliburton Inc. (US)

  • Weatherford International (US)

  • National Oilwell Varco (US)

  • Beyond Energy (Canada)

  • STRATA Energy Services (Australia)

  • Kinley Exploration LLC (US)

  • Precision Air Drilling Services Inc. (US)


Many players in the global underbalanced drilling market that are actively focusing on signing contracts and agreements with oil and gas operators to offer the best suitable underbalanced drilling systems. For instance, in April 2019, Northland Energy Corporation, a wholly owned subsidiary of Precision Drilling Corporation, entered into a contract with PEMEX for providing integrated multi-well contracts for underbalanced drilling and separation services in the southern region of Mexico. This would additionally also raise the need for proper underbalanced drilling, which is an integral part of exploration and drilling.


The global underbalanced drilling market has been segmented based on technique and application. On the basis of technique, the global market lightweight drilling fluids, gas injection, and foam injection. The foam injection segment is expected to dominate the global market as it provides efficiency during the well hole cleaning process. Due to this, it is considered as the most preferred underbalanced drilling technique. On the basis of application, the global market is divided into onshore and offshore segments. The offshore segment is expected to grow with the highest CAGR during the forecast period due to increasing exploration activities in deep and ultra-deep-sea regions.


Market Segmentation


 Underbalanced Drilling Market_Image


The global underbalanced drilling market is expected to witness high growth during the forecast period owing to the increase in oil and gas exploration, rising concern about formation damage, substantial potential for higher penetration rates, and ability to reduce lost circulation in depleted reservoirs.


On the basis of region, the global underbalanced drilling market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America. North America holds the largest share in the underbalanced drilling market due to the discovery of shale gas reserves in the US and presence of significant number of private oil companies.


Underbalanced drilling is a type of drilling method that is used to drill oil and gas wells. In this method, pressure of the well in kept lower than the pressure of the formations that are being drilled. It differs from conventional overbalanced drilling as a fact that the bottom hole circulating pressure is lower than the formation pressure, thereby permitting the well to flow while the drilling proceeds. This method is considered suitable for minimizing formation invasion problems. Since the majority of hydrocarbons are found in existing fields with depleting pressures or in complex and low-quality reservoirs, the economical use of underbalanced drilling becomes more and more prevalent. The key underbalanced drilling equipment include rotating control heads, chokes, and non-return valves. Moreover, underbalanced drilling services include precise pressure control services, which help deliver high-performance drilling solutions.


Intended Audience



  • Oil & Gas Operators

  • Government and Research Organization

  • Consulting Companies in the Oil & Gas Industry

  • Underbalanced Drilling Industry

  • Investors and Shareholders

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

3.3 Market Size Estimation

3.4 Forecast Model

3.5 List of Assumptions

3.6 Limitations of the Study

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Market Drivers

5.3 Market Restraints

5.4 Market Opportunities

5.5 Porter’s Five Forces Analysis

5.5.1 Threat of New Entrants

5.5.2 Bargaining Power of Buyers

5.5.3 Bargaining Power of Suppliers

5.5.4 Threat of Substitutes

5.5.5 Intensity of Rivalry

5.6 Value Chain/Supply Chain Analysis

6 Global Underbalanced Drilling Market, by Technique

6.1 Introduction

6.2 Lightweight drilling fluids

6.2.1 Market Estimates & Forecast, 2020–2027

6.2.2 Market Estimates & Forecast, by Region, 2020–2027

6.3 Gas Injection

6.3.1 Market Estimates & Forecast, 2020–2027

6.3.2 Market Estimates & Forecast, by Region, 2020–2027

6.4 Foam Injection

6.4.1 Market Estimates & Forecast, 2020–2027

6.4.2 Market Estimates & Forecast, by Region, 2020–2027

7 Global Underbalanced Drilling Market, by Application

7.1 Introduction

7.2 Onshore

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast, by Region, 2020–2027

7.3 Offshore

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast, by Region, 2020–2027

8 Global Underbalanced Drilling Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, by Technique, 2020–2027

8.2.2 Market Estimates & Forecast, by Application, 2020–2027

8.2.3 Market Estimates & Forecast, by Country, 2020–2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, by Technique, 2020–2027

8.2.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, by Technique, 2020–2027

8.2.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.3 Europe

8.3.1 Market Estimates & Forecast, by Technique, 2020–2027

8.3.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.3 Market Estimates & Forecast, by Country, 2020–2027

8.3.4 Norway

8.3.4.1 Market Estimates & Forecast, by Technique, 2020–2027

8.3.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.5 UK

8.3.5.1 Market Estimates & Forecast, by Technique, 2020–2027

8.3.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.6 Russia

8.3.6.1 Market Estimates & Forecast, by Technique, 2020–2027

8.3.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.3.7 Rest of Europe

8.3.7.1 Market Estimates & Forecast, by Technique, 2020–2027

8.3.7.2 Market Estimates & Forecast, by Application, 2020–2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, by Technique, 2020–2027

8.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.3 Market Estimates & Forecast, by Country, 2020–2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, by Technique, 2020–2027

8.4.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.5 Malaysia

8.4.5.1 Market Estimates & Forecast, by Technique, 2020–2027

8.4.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.6 Indonesia

8.4.6.1 Market Estimates & Forecast, by Technique, 2020–2027

8.4.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.4.7 Rest of Asia-Pacific

8.4.7.1 Market Estimates & Forecast, by Technique, 2020–2027

8.4.7.2 Market Estimates & Forecast, by Application, 2020–2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, by Technique, 2020–2027

8.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.5.3 Market Estimates & Forecast, by Country, 2020–2027

8.5.4 Middle East

8.5.4.1 Market Estimates & Forecast, by Technique, 2020–2027

8.5.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.5.5 Africa

8.5.5.1 Market Estimates & Forecast, by Technique, 2020–2027

8.5.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, by Technique, 2020–2027

8.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.6.3 Market Estimates & Forecast, by Country, 2020–2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, by Technique, 2020–2027

8.6.4.2 Market Estimates & Forecast, by Application, 2020–2027

8.6.5 Mexico

8.6.5.1 Market Estimates & Forecast, by Technique, 2020–2027

8.6.5.2 Market Estimates & Forecast, by Application, 2020–2027

8.6.6 Venezuela

8.6.6.1 Market Estimates & Forecast, by Technique, 2020–2027

8.6.6.2 Market Estimates & Forecast, by Application, 2020–2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, by Technique, 2020–2027

8.6.7.2 Market Estimates & Forecast, by Application, 2020–2027

9 Competitive Landscape

9.1 Competitive Scenario

9.2 Competitive Benchmarking of the Global Underbalanced Drilling Market

9.3 Major Growth Key Strategies in the Global Underbalanced Drilling Market

9.4 Market Share Analysis: Global Underbalanced Drilling Market

9.5 Schlumberger Limited: The Leading Player in Terms of Number of Developments in Global Underbalanced Drilling Market

9.6 Product Development in Global Underbalanced Drilling Market

9.7 Mergers and Acquisitions in Global Underbalanced Drilling Market

9.8 Contracts and Agreements in Global Underbalanced Drilling Market

9.9 Expansions and Investments in Global Underbalanced Drilling Market

10 Company Profile

10.1 Air Drilling Associates, Inc (US)

10.1.1 Company Overview

10.1.2 Products/Services Offered

10.1.3 Financial Overview

10.1.4 Key Developments

10.1.5 Key Strategies

10.1.6 SWOT Analysis

10.2 Ensign Energy Services (Canada)

10.2.1 Company Overview

10.2.2 Products/Services Offered

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 Key Strategies

10.2.6 SWOT Analysis

10.3 Schlumberger Limited (US)

10.3.1 Company Overview

10.3.2 Products/Services Offered

10.3.3 Financial Overview

10.3.4 Key Developments

10.3.5 Key Strategies

10.3.6 SWOT Analysis

10.4 Halliburton Inc (US)

10.4.1 Company Overview

10.4.2 Products/Services Offered

10.4.3 Financial Overview

10.4.4 Key Developments

10.4.5 Key Strategies

10.4.6 SWOT Analysis

10.5 Weatherford International (US)

10.5.1 Company Overview

10.5.2 Products/Services Offered

10.5.3 Financial Overview

10.5.4 Key Developments

10.5.5 Key Strategies

10.5.6 SWOT Analysis

10.6 National Oilwell Varco (US)

10.6.1 Company Overview

10.6.2 Products/Services Offered

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 Key Strategies

10.6.6 SWOT Analysis

10.7 Beyond Energy (Canada)

10.7.1 Company Overview

10.7.2 Products/Services Offered

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 Key Strategies

10.7.6 SWOT Analysis

10.8 STRATA Energy Services (Australia)

10.8.1 Company Overview

10.8.2 Products/Services Offered

10.8.3 Financial Overview

10.8.4 Key Developments

10.8.5 Key Strategies

10.8.6 SWOT Analysis

10.9 Kinley Exploration LLC (US)

10.9.1 Company Overview

10.9.2 Products/Services Offered

10.9.3 Financial Overview

10.9.4 Key Developments

10.9.5 Key Strategies

10.9.6 SWOT Analysis

10.10 Precision Air Drilling Services Inc (US)

10.10.1 Company Overview

10.10.2 Products/Services Offered

10.10.3 Financial Overview

10.10.4 Key Developments

10.10.5 Key Strategies

10.10.6 SWOT Analysis

List of Tables


Table 1 Global Underbalanced Drilling Market, by Region, 2020–2027 (USD Million)

Table 2 North America Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 3 Europe Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 4 Asia-Pacific Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 5 Middle East & Africa Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 6 Latin America Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 7 Global Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 8 North America Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 9 Europe Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 10 Asia-Pacific Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 11 Middle East & Africa Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 12 Latin America Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 13 Global Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 14 North America Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 15 Europe Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 16 Asia-Pacific Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 17 Middle East & Africa Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 18 Latin America Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 19 Global Underbalanced Drilling Market: by Region, 2020–2027 (USD Million)

Table 20 North America Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 21 North America Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 22 North America Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 23 US Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 24 US Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 25 Canada Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 26 Canada Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 27 Mexico Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 28 Mexico Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 29 Europe Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 30 Europe Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 31 Europe Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 32 Norway Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 33 Norway Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 34 UK Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 35 UK Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 36 Russia Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 37 Russia Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 38 Italy Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 39 Italy Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 40 Rest of Europe Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 41 Rest of Europe Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 42 Asia-Pacific Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 43 Asia-Pacific Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 44 Asia-Pacific Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 45 China Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 46 China Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 47 Malaysia Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 48 Malaysia Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 49 Indonesia Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 50 Indonesia Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 51 Australia Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 52 Australia Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 53 Rest of Asia-Pacific Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 54 Rest of Asia-Pacific Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 55 Middle East & Africa Underbalanced Drilling Market, by Country, 2020–2027 (USD `Million)

Table 56 Middle East & Africa Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 57 Middle East & Africa Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 58 Middle East Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 59 Middle East Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 60 Africa Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 61 Africa Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 62 Qatar Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 63 Qatar Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 64 South Africa Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 65 South Africa Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 66 Rest of the Middle East & Africa Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 67 Rest of the Middle East & Africa Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 68 Latin America Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Table 69 Latin America Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 70 Latin America Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 71 Brazil Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 72 Brazil Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 73 Mexico Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 74 Mexico Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Table 75 Rest of Latin America Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Table 76 Rest of Latin America Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)


List of Figures

Figure 1 Research Process of MRFR

Figure 2 Top-Down and Bottom-Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter’s Five Forces Analysis

Figure 7 Value Chain Analysis

Figure 8 Global Underbalanced Drilling Market Share, by Technique, 2020 (%)

Figure 9 Global Underbalanced Drilling Market, by Technique, 2020–2027 (USD Million)

Figure 10 Global Underbalanced Drilling Market Share, by Application, 2020 (%)

Figure 11 Global Underbalanced Drilling Market, by Application, 2020–2027 (USD Million)

Figure 12 Global Underbalanced Drilling Market Share (%), by Region, 2020

Figure 13 Global Underbalanced Drilling Market, by Region, 2020–2027 (USD Million)

Figure 14 North America Underbalanced Drilling Market Share (%), 2020

Figure 15 North America Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Figure 16 Europe Underbalanced Drilling Market Share (%), 2020

Figure 17 Europe Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Figure 18 Asia-Pacific Underbalanced Drilling Market Share (%), 2020

Figure 19 Asia-Pacific Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Figure 20 Middle East & Africa Underbalanced Drilling Market Share (%), 2020

Figure 21 Middle East & Africa Underbalanced Drilling Market, by Region, 2020–2027 (USD Million)

Figure 22 Latin America Underbalanced Drilling Market Share (%), 2020

Figure 23 Latin America Underbalanced Drilling Market, by Country, 2020–2027 (USD Million)

Underbalanced Drilling Market