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The oil and gas industry has been employing directional drilling for 35 years and hydraulic fracturing for 65 years, but the combination of the two in the Barnett Shale demonstrated to engineers that every known basin might be a candidate for horizontal wells with multiple-stage hydraulic fracturing.  Starting in 2004, E&P spending on drilling technologies and well completion equipment & services began to soar, setting records each year through 2008, and then again in 2010, 2011 and 2012.

 

Richard Spears will lead a discussion about his firm’s outlook for drilling and completion-related services in 2013 and the company’s forecast of the hydraulic fracturing market in 2012 and 2013.