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Workover Market Enters Newbuild Cycle

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By Richard Mason, Hart Energy
April 16, 2014

Industry retooling is no longer confined to new high-spec drilling rigs. The well service/workover market has embarked on a newbuild cycle with 2014 manufacturing capacity essentially sold out.

In a few cases, manufacturers are taking orders for 2015 delivery.

A Hart Energy survey of equipment manufacturers in the well service/workover segment found respondents reporting strong demand for newbuild workover rigs. The newfound interest points to change underway in the completions side of the business.  As operators push lateral lengths beyond a mile, coil tubing has become less effective, and oil ...


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