{"id":10694,"date":"2020-08-20T16:33:37","date_gmt":"2020-08-20T16:33:37","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=10694"},"modified":"2025-04-22T14:34:06","modified_gmt":"2025-04-22T13:34:06","slug":"world-land-drilling-rig-market-forecast-2020-2024","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/reports\/world-land-drilling-rig-market-forecast-2020-2024","title":{"rendered":"World Land Drilling Rig Market Forecast 2020-2024"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][tabbed_section style=&#8221;default&#8221; tab_change_animation=&#8221;fade&#8221; alignment=&#8221;left&#8221; spacing=&#8221;default&#8221; tab_color=&#8221;Accent-Color&#8221; vs_content_animation=&#8221;fade&#8221; vs_link_animation=&#8221;opacity&#8221; vs_navigation_alignment=&#8221;left&#8221; vs_navigation_width_2=&#8221;25%&#8221; vs_navigation_func=&#8221;default&#8221; vs_navigation_width=&#8221;regular&#8221; vs_navigation_spacing=&#8221;15px&#8221; vs_navigation_mobile_display=&#8221;visible&#8221; vs_tab_spacing=&#8221;5%&#8221;][tab icon_family=&#8221;none&#8221; title=&#8221;Report Summary&#8221; id=&#8221;1745328744753-8&#8243; tab_id=&#8221;1745328744754-4&#8243;][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<h2 aria-level=\"1\"><b><span data-contrast=\"none\">Report Summary<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:320,&quot;335559739&quot;:160,&quot;335559740&quot;:259,&quot;469777462&quot;:[2115],&quot;469777927&quot;:[0],&quot;469777928&quot;:[1]}\">\u00a0<\/span><\/h2>\n<p>The report covers the historic period of 2014-2019, wherein the land drilling rig market was severely impacted by the reduction in drilling activity seen during the previous downturn, particularly in the North American market. The market experienced a recovery over 2016-2018, following the implementation of voluntary production cuts by OPEC+ member states to support the oil price, and subsequent return of investor confidence in US shales and recovery in the US rig count from mid-2016.<\/p>\n<p>The report presents the Westwood outlook for the global land drilling rig market over the 2020-2024 period, with a focus on addressing the following key questions:<\/p>\n<ul>\n<li>How does the forecast for the market look, in terms of the volume of rigs drilling and rig utilisation, when you compare it across different regions and countries? Specifically, which regions and countries are likely to drive demand for rigs in the coming years, and why is this the case?<\/li>\n<li>What factors are driving demand for rigs within specific countries or regions \u2013 key basins, plays, and E&amp;P companies?<\/li>\n<li>Given the current volatile market conditions in the wake of the Covid-19 pandemic and severe decline in oil prices, what is the uncertainty in the market outlook, and how could different oil price scenarios impact the market? As referenced below, Westwood\u2019s outlook in this report incorporates three different oil price scenarios: a Base Case, Low Case, and High Case scenario.<\/li>\n<li>What does the competitive landscape look like within specific markets \u2013 who are the key rig contractors present and how does the size and horsepower distribution of their fleet vary?<\/li>\n<li>Which companies are the largest equipment providers for rigs within a given region?<\/li>\n<\/ul>\n<h6><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-10711\" src=\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2.png\" alt=\"Global Onshore Rigs Drilling Graph\" width=\"3159\" height=\"2201\" srcset=\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2.png 3159w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2-300x209.png 300w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2-1024x713.png 1024w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2-768x535.png 768w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2-1536x1070.png 1536w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/08\/GlobalOnshoreRigsDrilling20142024-01-2-2048x1427.png 2048w\" sizes=\"auto, (max-width: 3159px) 100vw, 3159px\" \/><br \/>\nGlobal Onshore Rigs Drilling, 2014-2020<\/h6>\n[\/vc_column_text][\/tab][tab icon_family=&#8221;none&#8221; title=&#8221;Report Contents&#8221; id=&#8221;1745328744783-8&#8243; tab_id=&#8221;1745328744783-2&#8243;][vc_column_text]\n<h2>Contents<\/h2>\n<p>Executive Summary<\/p>\n<p><strong>1. Introduction<\/strong><\/p>\n<p style=\"padding-left: 40px;\">1.1 Macro Indicators<br \/>\n1.2 Industry Review<\/p>\n<p><strong>2. Methodology<\/strong><\/p>\n<p style=\"padding-left: 40px;\">2.1 Drilling &amp; Production Methodology<br \/>\n2.2 Onshore Rig Demand Methodology<br \/>\n2.3 Differing Rig Counts<\/p>\n<p><strong>3. Macro Drivers<\/strong><\/p>\n<p style=\"padding-left: 40px;\">3.1 Brent Oil Price Westwood Scenarios<br \/>\n3.2E&amp;P Capex 2020 Revisions (Select E&amp;P Operators)<br \/>\n3.3 Economic &amp; Political Considerations<\/p>\n<p><strong>4. Rig Equipment Landscape<\/strong><\/p>\n<p style=\"padding-left: 40px;\">4.1 Key Rig Components: Leading Manufacturers<br \/>\n4.2 Regional Manufacturer Ranking<\/p>\n<p><strong>5. Global Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">5.1 Global Outlook<br \/>\n5.2 Regional Rig Fleets<\/p>\n<p><strong>6. Asia-Pacific Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">6.1 Asia-Pacific Rig Supply and Demand<br \/>\n6.2 Asia-Pacific Identified Rigs<br \/>\n6.3 Australia<br \/>\n6.4 China<br \/>\n6.5 India<br \/>\n6.5 Indonesia<br \/>\n6.6 Pakistan<br \/>\n6.7 Thailand<\/p>\n<p><strong>7. Eastern Europe &amp; FSU Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">7.1 Eastern Europe Rig Supply and Demand<br \/>\n7.2 Eastern Europe &amp; FSU Identified Rigs<br \/>\n7.3 Azerbaijan<br \/>\n7.4 Kazakhstan<br \/>\n7.5 Russia<\/p>\n<p><strong>8. Latin America Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">8.1 Latin America Supply and Demand<br \/>\n8.2 Latin America Identified Rigs<br \/>\n8.3 Argentina<br \/>\n8.4 Brazil<br \/>\n8.5 Colombia<br \/>\n8.6 Ecuador<br \/>\n8.7 Mexico<br \/>\n8.8 Peru<br \/>\n8.9 Venezuela<\/p>\n<p><strong>9. MENA Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">9.1 MENA Rig Supply and Demand<br \/>\n9.2 MENA Identified Rigs<br \/>\n9.3 Algeria<br \/>\n9.4 Egypt<br \/>\n9.5 Iran<br \/>\n9.6 Iraq<br \/>\n9.7 Kuwait<br \/>\n9.8 Oman<br \/>\n9.9 Saudi Arabia<br \/>\n9.10 United Arab Emirates<\/p>\n<p><strong>10. North America Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">10.1 North America Rig Supply and Demand<br \/>\n10.2 North America Identified Rigs<br \/>\n10.3 Canada<br \/>\n10.4 USA<\/p>\n<p><strong>11. Sub-Saharan Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">11.1 Sub-Saharan Rig Supply and Demand<br \/>\n11.2 Sub-Saharan Identified Rigs<br \/>\n11.3 Chad<br \/>\n11.4 Gabon<br \/>\n11.5 Nigeria<\/p>\n<p><strong>12. Western Europe Analysis<\/strong><\/p>\n<p style=\"padding-left: 40px;\">12.1 Western Europe Rig Supply and Demand<br \/>\n12.2 Western Europe Identified Rigs<\/p>\n<p><strong>13. Conclusions<\/strong><\/p>\n<p><strong>14. Appendix<\/strong><\/p>\n<p><strong>15. Glossary<\/strong>[\/vc_column_text][\/tab][tab icon_family=&#8221;none&#8221; title=&#8221;Purchase Options&#8221; id=&#8221;1745328744800-10&#8243; tab_id=&#8221;1745328744800-2&#8243;][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]For further information on the &#8220;World Land Drilling Rig Market Forecast 2020-2024&#8221; report, please use the form below or contact <a href=\"mailto:sales@westwoodenergy.com\">sales@westwoodenergy.com<\/a><\/p>\n[\/vc_column_text][\/tab][\/tabbed_section][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#559497&#8243; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;padding-3-percent&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][nectar_animated_title heading_tag=&#8221;h6&#8243; style=&#8221;color-strip-reveal&#8221; color=&#8221;Accent-Color&#8221; text=&#8221;Request More Information&#8221;][vc_raw_html css=&#8221;&#8221;]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[\/vc_raw_html][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>The report covers the historic period of 2014-2019, wherein the land drilling rig market was severely impacted by the reduction in drilling activity seen during the previous downturn, particularly in the North American market.<\/p>\n","protected":false},"author":5,"featured_media":17347,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[353,327,346,48,349,444,443,318,322,335,334,336,404],"tags":[],"class_list":{"0":"post-10694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all_articles","8":"category-global-land-rigs","9":"category-international-land-rigs","10":"category-news","11":"category-oilfield-services","12":"category-onshore-energy-services","13":"category-onshore-energy-services-reports","14":"category-reports","15":"category-rigs-wells","16":"category-sectors","17":"category-solutions","18":"category-subsectors","19":"category-wells-services-equipment"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - 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