According to a new study titled ‘Transportation, Water Treatment, and Multiphase Pumping Segments Drive Short-term Growth’, the United States is at the cusp of an energy revolution triggered by the shale gas boom and intensified by the tight oil boom.
Increased production of tight oil in the US is attracting more investment. In turn, operators position based on focus, geography, land acquisitions, first oil, and compliance to regulations help progress towards increased optimization. This creates tremendous opportunities for motor and drive manufacturers to offer appropriate solutions needed to overcome the challenges of tight oil production.
Highlights of the study include:
-Abundance of shale oil and gas reserves in both the United States and Canada has led to increased investments in exploration and production activities. It is estimated that the United States will be the top oil producer on shale by 2015.
-As shale oil production is rising rapidly, current midstream capacity needs to be boosted, which in turn will drive the adoption of Positive Displacement (PD) pumps.
-The North American shale oil market will be a test bed for PD pump technology to prove its potential applications and tap global opportunities in the future.
-A focus on ongoing projects in the transportation segment will ensure short-term success for PD pump manufacturers.