The oil & gas industry is experiencing a notable shift, marked by innovations in shale technologies showcased through patents, strategic deals driving industry advancements, and a changing job market with a focus on roles like installation, maintenance, and repair. These developments illuminate the industry’s transformative path, positioning it for a dynamic future. GlobalData’s Haynesville Shale In The United States Of America (USA) report offers valuable insights into the Haynesville shale’s crude oil and natural gas industry, from production trends to pandemic impacts and mergers. Buy the report here.
This article presents a quarterly round-up of the latest trends in the oil & gas industry regarding shale. It provides an overview of recent developments in shale-related deals, talent acquisition, and patent filings within the oil & gas industry.
Diverse applications of shale in oil & gas industry
Oil & gas companies in the field of shale are leveraging new technologies and applications to innovate and improve their businesses. Recent patents reveal some of the advancements in this area. Halliburton Co has patented a single slip frac tool that improves well casing sealing in hydraulic fracturing. They have also developed wellbore stability compositions comprising nanoparticles to reduce fluid loss into subterranean formations. CARBO Ceramics Inc has patented a micromesh proppant for hydraulic fracturing, which enhances well productivity. Exxon Mobil Corp has developed modeling methods to minimize grid sensitivity in fracture propagation calculations, improving accuracy in geological modeling. Southwest Petroleum has patented a supramolecular star-shaped polymer with ß-CD as a core, which enhances recovery ratios and hydraulic fracturing in oilfields. These patents provide the acquirer with valuable technologies and applications to enhance their operations in the shale industry.
The industry experienced a 7% decline in the number of shale-related patent applications in Q2 2023 compared with the previous quarter. On an annual basis, the number of shale-related patent applications in the oil & gas industry witnessed a drop of 0.83% compared with Q2 2022.
Strategic deal trends in shale in oil & gas industry
Oil & gas companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in shale. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of shale in the oil & gas industry.
In Q2 2023, the number of shale-related deals in the oil & gas industry declined by 37% compared with Q2 2022. On a quarterly basis, there was 28% increase in the number of deals in Q2 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2023, the oil & gas industry experienced a 12% growth compared with the previous quarter. On an annual basis, job postings also grew by 32%. Notably, installation, maintenance, and repair occupations, with a share of 10%, emerged as the top shale-related job roles within the oil & gas industry in Q2 2023, with new job postings rising by 29% quarter-on-quarter. Construction and extraction occupations came in second with a share of 10% in Q2 2023, with new job postings rising by 72% over the previous quarter. The other prominent shale roles include architecture and engineering occupations with a 9% share in Q2 2023, and business and financial operations occupations with a 8% share of new job postings.
Pioneer Natural Resources, Select Water Solutions, Southwestern Energy, Halliburton, and Chord Energy are among the top companies leading in shale hiring within the oil & gas industry.
Countries driving adoption of shale in oil & gas industry
The US is the leading country in shale adoption within the oil & gas industry, boasting the highest number of shale-related patents, jobs, and deals. Meanwhile, the UK, Canada, China and Argentina also maintain significant positions in shale adoption within the oil & gas industry.
In summary, the oil & gas industry experienced fluctuations in shale-related patent applications and deal trends while witnessing substantial job market growth, particularly in installation and maintenance roles. Pioneer Natural Resources, Select Water Solutions, Southwestern Energy, Halliburton, and Chord Energy emerged as key players in the shale sector.
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