Drilling Market Focus: Coiled-tubing use growing faster than drilling industry

The market is booming for coiled-tubing equipment and services for well interventions and drilling.Coiled-tubing drilling, although only 15% of the overall CT industry, is growing faster than the CT intervention market.1 Because of its niche applications in coalbed methane exploitation, predominantly in Western Canada, the number of wells drilled with coiled tubing has increased 60%/year for the past 3 years.Coiled tubing is used in a wide range of applications, including well intervention and workovers, production, completion, and drilling(CTD). Coiled-tubing strings can be reused (drilling, workovers) or set in place permanently (production, injection, velocity, or siphon strings).Worko...

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