New Study Predicts Growth in Market for Drill Pipe: Tenaris, Tejas Tubular Products, Vallourec, Premier Drill Product
The U.S. Drill Pipe Market is set to surpass annual deployment of 13 million feet by 2024. Increasing exploration of unconventional wells coupled with ongoing capital expenditure from independent players will stimulate the industry growth in the country. According to the U.S. Energy Information Administration, 44 onshore oil companies have augmented their capex by 72% from 2015 to 2016 in the country. Furthermore, availability of proven technically recoverable shale oil and gas reserves will further enhance the product adoption.
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