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Petroleum Machinery Industry
Drilling rig, workover truck and fracturing truck are the most demanding parts of oilfield service equipment. Drilling rigs and fracturing equipment are of high value. The value of a single rig equipment is 1-200 million, the value of a single fracturing truck is 6-15 million, and the value of a single workover equipment is low, with an average value of 1 workover truck for 10 oil wells. The demand for a workover truck is huge.
Oilfield drilling rigs and fracturing equipment are in a balanced or even surplus situation. The development of natural gas, coalbed methane and shale gas has created new demand for fracturing equipment, and the demand for workover equipment has increased steadily. The stock equipment of social oil service company is in the situation of overcapacity, and the demand for drilling rig and fracturing equipment industry is more sensitive to oil price. The development of natural gas resources has been on the rise for a long time. Coalbed methane development has been included in the "Twelfth Five-Year Plan" of energy resources. The demand for newly increased horsepower fracturing equipment has increased clearly. The US CBM has entered a stable production period, and shale gas has entered a period of rapid growth. The prospect of fracturing equipment exports is bright. Overall, workover equipment is in a period of steady growth. The number of oil wells serviced by single workover equipment is limited. Demand increases steadily with the development of new wells. However, technical barriers and concentration of the industry are low, and market competition is fierce.
Oilfield service industry has a high profit margin. The utilization rate of oil service equipment increases with the rise of oil price, and new investment and demand for oil service equipment are added. The profit rate of fracturing and well servicing is high, and the investment recovery period of equipment is short. High oil price and high expectation in 2008 and short payback period of investment in oil clothing equipment are the main reasons for overinvestment in social oil clothing equipment.
Oilfield drilling rigs and fracturing equipment are in a balanced or even surplus situation. The development of natural gas, coalbed methane and shale gas has created new demand for fracturing equipment, and the demand for workover equipment has increased steadily. The stock equipment of social oil service company is in the situation of overcapacity, and the demand for drilling rig and fracturing equipment industry is more sensitive to oil price. The development of natural gas resources has been on the rise for a long time. Coalbed methane development has been included in the "Twelfth Five-Year Plan" of energy resources. The demand for newly increased horsepower fracturing equipment has increased clearly. The US CBM has entered a stable production period, and shale gas has entered a period of rapid growth. The prospect of fracturing equipment exports is bright. Overall, workover equipment is in a period of steady growth. The number of oil wells serviced by single workover equipment is limited. Demand increases steadily with the development of new wells. However, technical barriers and concentration of the industry are low, and market competition is fierce.
Oilfield service industry has a high profit margin. The utilization rate of oil service equipment increases with the rise of oil price, and new investment and demand for oil service equipment are added. The profit rate of fracturing and well servicing is high, and the investment recovery period of equipment is short. High oil price and high expectation in 2008 and short payback period of investment in oil clothing equipment are the main reasons for overinvestment in social oil clothing equipment.
